Estimate your monthly mortgage payment in New Mexico, including principal, interest, estimated property taxes, and homeowners insurance.
What is the average property tax in New Mexico?
New Mexico enjoys one of the lowest average effective property tax rates in the United States, typically around 0.58% of a home's assessed value. Our calculator uses this as a baseline to provide an initial estimate, but actual rates vary by county.
Are there special programs for homebuyers in New Mexico?
Yes, the New Mexico Mortgage Finance Authority (MFA) offers various programs like FIRSTHome and NEXTHome, which can provide down payment assistance and competitive interest rates for eligible buyers. It is highly recommended to check their official website for the latest details and eligibility requirements.