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.
December 11, 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%
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 buy 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
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
FHA loan limits for Las Cruces, NM
VA loan limits for Las Cruces, NM
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