Las Cruces

Current Mortgage Rates in Las Cruces, New Mexico

Compare mortgage rates and fees for leading lenders in Las Cruces, 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 Las Cruces.

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

Mortgage Rates in Las Cruces, NM as of September 18, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's Las Cruces, NM Mortgage Rates Compare?

September 18, 2020

The current average rate for a 30 year fixed rate mortgage in Las Cruces 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
Las Cruces, NM Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Las Cruces, New Mexico?

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

The median home value for Las Cruces, NM (Dona Ana County) is $162,215

Based on current mortgage rates and a 10% down payment, you need to make $29,195 per year to buy the median priced home in Las Cruces

With this income, you could qualify for a $145,994 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 Las Cruces is $676

The median household income for Las Cruces, NM (Dona Ana County) is $41,251

Based on this income, you can afford a home valued at approximately $229,207

The home price you can afford to buy based on household income in Las Cruces is 141% of the median home value which means housing prices are average. Las Cruces (Dona Ana County) ranks 25 out of 33 counties in New Mexico and 2,649 out of 3,142 counties in the United States for housing affordability.

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


Loan Limits for Las Cruces, New Mexico

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

Conforming loan limits for Las Cruces, NM

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Las Cruces, NM

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Las Cruces, NM

1 unit: $510,400

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