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Belen

Compare Current Belen, New Mexico Mortgage Rates

Compare Belen, NM mortgage rates and fees from top lenders. 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 lowest 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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Belen, NM Mortgage Rates as of July 15, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Belen, NM Mortgage Rates

July 15, 2024

Current mortgage rates in Belen, NM are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Belen, NM Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Belen, New Mexico?

Below we provide helpful information on the real estate market, home prices and housing affordability in Belen. Understand how much you need to earn to afford a home in Belen, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Belen fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Belen is right for you.

The median home value for Belen, NM (Valencia County) is $191,007

Based on current mortgage rates and a 10% down payment, you need to make $39,847 per year to buy the median priced home in Belen

With this income, you could qualify for a $171,906 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Belen is $923

The median household income for Belen, NM (Valencia County) is $48,892

Based on this income, you can afford a home valued at approximately $234,361

The home price you can afford to buy based on household income in Belen is 123% of the median home value which means housing prices are average. Belen (Valencia County) ranks 24 out of 33 counties in New Mexico and 2,461 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: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Belen, NM

1 unit: $472,030
2 units: $604,400
3 units: $730,525
4 units: $907,900

VA loan limits for Belen, NM

1 unit: $726,200

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