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Santa Fe

Compare Current Santa Fe, New Mexico Mortgage Rates

Compare Santa Fe, 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 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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Santa Fe, NM Mortgage Rates as of May 18, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Santa Fe, NM Mortgage Rates

May 18, 2024

Current mortgage rates in Santa Fe, NM are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Santa Fe, NM Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
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5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Santa Fe, New Mexico?

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

The median home value for Santa Fe, NM is $411,821

Based on current mortgage rates and a 10% down payment, you need to make $85,913 per year to buy the median priced home in Santa Fe

With this income, you could qualify for a $370,639 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 Santa Fe is $1,990

The median household income for Santa Fe, NM is $68,324

Based on this income, you can afford a home valued at approximately $327,511

The home price you can afford to buy based on household income in Santa Fe is 80% of the median home value which means housing prices are very expensive. Santa Fe ranks 32 out of 33 counties in New Mexico and 3,008 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 very expensive

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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: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Santa Fe, NM

1 unit: $503,700
2 units: $644,800
3 units: $779,450
4 units: $968,650

VA loan limits for Santa Fe, NM

1 unit: $726,200

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