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Mortgage Calculator &
Closing Costs: Truth or Consequences, NM

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Truth or Consequences, New Mexico.

Median Home Price
$155K
Population
6K
Avg Monthly Rent
$720
Property Tax Rate
0.8%
Truth or Consequences vs New Mexico Median
The median home price in Truth or Consequences is $155,000, which is 45% below the New Mexico state median of $280,000.

Mortgage Calculator — Truth or Consequences, NM

Pre-filled with Truth or Consequences median home price and New Mexico tax/insurance rates. Adjust for your property.

$
$31,000
%
%
years
NM avg
%
$
Monthly Payment (PITI)
$1,045
Principal + Interest + Tax + Insurance + PMI
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Principal & Interest
$784
per month
Taxes & Insurance
$261
per month
Total Interest Paid
$158K
over 30 years
Total Loan Cost
$282K
all payments
Payment Breakdown
Loan Amount$124,000
Principal & Interest$784
Property Taxes$103
Homeowners Insurance$158
Total Monthly PITI$1,045

Closing Costs — Truth or Consequences, NM

Estimated closing costs based on New Mexico rates and fees applied to Truth or Consequences prices.

$
%
New Mexico: Avg closing costs 1.4% of price. Transfer tax: 0%.
Estimated Closing Costs
$6,975
4.5% of purchase price
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Lender Fees
$1,541
origination, underwriting
Third-Party
$2,225
appraisal, title, inspection
Government Fees
$0
transfer taxes, recording
Prepaids + Escrow
$3,209
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$1,116
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,075
Recording Fee$150
Prepaid Taxes (3 mo)$310
Prepaid Insurance (12 mo)$1,900
Prepaid Interest (15 days)$373
Escrow Reserves$627
Total Closing Costs$6,975

Buying a Home in Truth or Consequences, New Mexico

The median home price in Truth or Consequences is $155,000, 45% below the New Mexico state median of $280,000. With a population of 5,950, Truth or Consequences is a smaller market where home prices tend to be more accessible than in many parts of New Mexico.

Property taxes in New Mexico average 0.8% annually. This moderate property tax rate means a $155,000 home in Truth or Consequences would carry roughly $103/month in property taxes. Homeowners insurance in New Mexico runs approximately $1,900 per year. This is within the normal range nationally.

Average rent in Truth or Consequences is $720/month. The price-to-rent ratio in Truth or Consequences is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.

Truth or Consequences offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with New Mexico's MFA First Home program.

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