Compare Las Cruces, 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 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.
August 12, 2022
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 $196,625
Based on current mortgage rates and a 10% down payment, you need to make $32,216 per year to buy the median priced home in Las Cruces
With this income, you could qualify for a $176,963 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 $746
The median household income for Las Cruces, NM (Dona Ana County) is $46,519
Based on this income, you can afford a home valued at approximately $283,916
The home price you can afford to buy based on household income in Las Cruces is 144% 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 2,665 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