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Santa Fe

Current Mortgage Rates in Santa Fe, New Mexico

Compare mortgage rates and fees for leading lenders in Santa Fe, 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 Santa Fe.

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

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Mortgage Rates in Santa Fe, NM as of December 14, 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 Santa Fe, NM Mortgage Rates Compare?

December 14, 2019

The current average rate for a 30 year fixed rate mortgage in Santa Fe 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
Santa Fe, NM Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Santa Fe, New Mexico?

The median home value for Santa Fe, NM is $320,690

The median household income for Santa Fe, NM is $59,716

Based on current mortgage rates and a 10% down payment, you need to make $59,498 per year to buy the median priced home in Santa Fe

The home price you can afford to buy based on household income in Santa Fe is 100% of the median home value which means housing prices are average

Santa Fe ranks 32 out of 33 counties in New Mexico and 3,002 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Santa Fe, New Mexico

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Santa Fe below.

Conforming loan limits for Santa Fe, NM

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

FHA loan limits for Santa Fe, NM

1 unit: $368,000
2 units: $471,100
3 units: $569,450
4 units: $707,700

VA loan limits for Santa Fe, NM

1 unit: $484,350

Additional Mortgage Resources for Santa Fe, NM Residents

Mortgage Rates for New Mexico Cities

Albuquerque Mortgage Rates

Belen Mortgage Rates

Bernalillo Mortgage Rates

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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