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Belen

Current Mortgage Rates in Belen, New Mexico

Compare mortgage rates and fees for leading lenders in Belen, NM. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Belen.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Belen. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Belen, NM as of December 11, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Belen, NM Mortgage Rates Compare?

December 11, 2019

The current average rate for a 30 year fixed rate mortgage in Belen is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Belen, NM Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Belen, New Mexico?

The median home value for Belen, NM (Valencia County) is $139,228

The median household income for Belen, NM (Valencia County) is $44,756

Based on current mortgage rates and a 10% down payment, you need to make $25,831 per year to buy the median priced home in Belen

The home price you can afford to buy based on household income in Belen is 173% of the median home value which means housing prices are average

Belen (Valencia County) ranks 13 out of 33 counties in New Mexico and 2,135 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Belen, NM is average

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Loan Limits for Belen, New Mexico

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Belen (Valencia County) below.

Conforming loan limits for Belen, NM

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Belen, NM

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Belen, NM

1 unit: $484,350

Additional Mortgage Resources for Belen, NM Residents

Mortgage Rates for New Mexico Cities

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Las Cruces Mortgage Rates

Santa Fe Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index