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Bernalillo

Compare Current Bernalillo, New Mexico Mortgage Rates

Compare Bernalillo, 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 Bernalillo.

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

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Bernalillo, NM Mortgage Rates as of March 28, 2024
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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 or insurance premiums. 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 Bernalillo, NM Mortgage Rates

March 28, 2024

Current mortgage rates in Bernalillo, 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
Bernalillo, NM Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Bernalillo, New Mexico?

Below we provide helpful information on the real estate market, home prices and housing affordability in Bernalillo. Understand how much you need to earn to afford a home in Bernalillo, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bernalillo 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 Bernalillo is right for you.

The median home value for Bernalillo, NM (Sandoval County) is $281,707

Based on current mortgage rates and a 10% down payment, you need to make $58,769 per year to buy the median priced home in Bernalillo

With this income, you could qualify for a $253,537 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 Bernalillo is $1,361

The median household income for Bernalillo, NM (Sandoval County) is $73,204

Based on this income, you can afford a home valued at approximately $350,905

The home price you can afford to buy based on household income in Bernalillo is 125% of the median home value which means housing prices are average. Bernalillo (Sandoval County) ranks 23 out of 33 counties in New Mexico and 2,429 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Bernalillo, New Mexico

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

Conforming loan limits for Bernalillo, NM

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Bernalillo, NM

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

VA loan limits for Bernalillo, NM

1 unit: $726,200

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