USDA Loans in New Mexico

USDA LOAN BENEFITS IN NEW MEXICO
USDA Home Loans offer flexible credit requirements along with NO MONEY DOWN. The interest rates are competitive and you can close your loan in roughly 45 days. The USDA Home loan is a great loan for those individuals with limited and average or below average credit profiles. A credit score of 620 is required to qualify for a USDA Loan, and a credit score of 640 drastically increases your chances. If you are close to either of these credit scores, contact one of our USDA Loan agents today to see how we can help you improve your credit score.

USDA LOAN ELIGIBILITY IN NEW MEXICO
To be eligible for a USDA Loan you need to meet a few basic criteria. For example, you must be able to prove that you have a history of paying your bills on time. Also, to qualify for a USDA Loan you will need to be purchasing a home in a community approved by the USDA Loan Program. This typically consists of cities less than 35,000 people, but these areas are not easily defined by city lines, so the best way to know if your home would qualify is to apply and let one of our certified USDA Loan Agents take care of the rest.

To qualify for a USDA Loan, USDA Loan Underwriters will want to make sure that you meet income guidelines. USDA Loan income guidelines are based off of your household size and the county of your residence. Below is a list of income limits by county in New Mexico.

Income Limits for New Mexico

County Name Family Size 1-4 Family Size 5-8
Bernalillo $75,650 $99,850
Catron $75,650 $99,850
Chaves $75,650 $99,850
Cibola $75,650 $99,850
Colfax $75,650 $99,850
Curry $75,650 $99,850
De Baca $75,650 $99,850
Dona Ana $75,650 $99,850
Eddy $75,650 $99,850
Grant $75,650 $99,850
Guadalupe $75,650 $99,850
Harding $75,650 $99,850
Hidalgo $75,650 $99,850
Lea $75,650 $99,850
Lincoln $75,650 $99,850
Los Alamos $94,600 $124,850
Luna $75,650 $99,850
McKinley $75,650 $99,850
Mora $75,650 $99,850
Otero $75,650 $99,850
Quay $75,650 $99,850
Rio Arriba $75,650 $99,850
Roosevelt $75,650 $99,850
San Juan $75,650 $99,850
San Miguel $75,650 $99,850
Sandoval $75,650 $99,850
Santa Fe $75,650 $99,850
Sierra $75,650 $99,850
Socorro $75,650 $99,850
Taos $75,650 $99,850
Torrance $75,650 $99,850
Union $75,650 $99,850
Valencia $75,650 $99,850
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