New Mexico Mortgage Calculator
Estimate your monthly mortgage payment in New Mexico based on the state median home price of $280K, a 0.8% property tax rate, and $2K/year homeowners insurance.
$56,000
NM avg
Principal & Interest
$1,416
per month
Taxes & Insurance
$345
per month
Total Interest Paid
$286K
over 30 years
Total Loan Cost
$510K
all payments
Payment Breakdown
Loan Amount$224,000
Principal & Interest$1,416
Property Taxes$187
Homeowners Insurance$158
Total Monthly PITI$1,760
New Mexico Housing at a Glance
Median Home Price
$280K
New Mexico statewide
Property Tax Rate
0.8%
$187/mo on median
Avg Closing Costs
$4K
1.4% of purchase price
Homeowners Insurance
$1,900/yr
$158/mo
New Mexico First-Time Buyer Program
MFA First Home
Down payment assistance: FIRSTDown DPA assistance