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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.

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Mortgage Rates in Las Cruces, NM as of August 22, 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 Las Cruces, NM Mortgage Rates Compare?

August 22, 2019

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
Today's
Las Cruces, NM Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Las Cruces, New Mexico?

The median home value for Las Cruces, NM (Dona Ana County) is $152,315

The median household income for Las Cruces, NM (Dona Ana County) is $40,310

Based on current mortgage rates and a 10% down payment, you need to make $28,259 per year to buy the median priced home in Las Cruces

The home price you can afford to by based on household income in Las Cruces is 143% 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 2,638 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

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

FHA loan limits for Las Cruces, NM

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

VA loan limits for Las Cruces, NM

1 unit: $484,350

Additional Mortgage Resources for Las Cruces, NM Residents

Mortgage Rates for New Mexico Cities

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Farmington Mortgage Rates

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