With the help of the USDA Rural Development Loan program, buying a home in the great state of New Mexico may have become just a tad easier. These no money down, fixed interest loans are backed by the United States Department of Agriculture. And regardless of whether you are a first time home buyer or a previous property owner, these USDA loans are offering a number of benefits to residents located all throughout the “Land of Enchantment,” including:

  • Fixed Interest Rates
  • No Maximum Loan Amount
  • Flexible Credit Guidelines for New Mexico Residents
  • No PMI and No Money Down

New Mexico Areas that Qualify for Rural Development Loans

The problem that the USDA Loan program (Also referred to as the Rural Development Loan Program) faces is the idea that these home loans are somehow associated with farming. This is simply not the case.

In truth, USDA Loans were simply created to help build many of the country’s less populated areas – This can even include properties that fall just outside of some of New Mexico’s major metropolitan areas.

To qualify for a Rural Development Loan in New Mexico, the property has to:

  • Be located outside of the city limits
  • Have a population of less than 20,000 people

There are a number of different types of properties that are USDA Loan eligible – so never assume that you do not qualify. Instead, fill out the application on this page, or call one of our certified USDA loan agents at 1-866-854-4242.

New Mexico USDA Loan Income Limits by County

You should be aware that there are certain maximum income limits that help to determine eligibility for a New Mexico USDA home loan. In addition to a credit evaluation, your annual salary cannot exceed the limits set for your county:

STATE:NEW MEXICO PROGRAM 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Albuquerque NM MSA VERY LOW INCOME 22050 25200 28350 31450 34000 36500 39000 41550
LOW INCOME 35200 40250 45250 50300 54300 58350 62350 66400
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Farmington NM MSA VERY LOW INCOME 20300 23200 26100 29000 31350 33650 36000 38300
LOW INCOME 32500 37100 41750 46400 50100 53800 57550 61250
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Las Cruces NM MSA VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Santa Fe NM MSA VERY LOW INCOME 24050 27500 30950 34350 37100 39850 42600 45350
LOW INCOME 38450 43950 49450 54950 59350 63750 68150 72550
MOD.INC-GUAR.LOAN 79000 79000 79000 79000 104300 104300 104300 104300
Catron County NM VERY LOW INCOME 16950 19400 21800 24200 26150 28100 30050 31950
LOW INCOME 27100 30950 34850 38700 41800 44900 48000 51100
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Chaves County NM VERY LOW INCOME 16800 19200 21600 23950 25900 27800 29700 31650
LOW INCOME 26800 30650 34450 38300 41350 44450 47500 50550
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Cibola County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Colfax County NM VERY LOW INCOME 18550 21200 23850 26450 28600 30700 32800 34950
LOW INCOME 29600 33850 38050 42300 45700 49050 52450 55850
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Curry County NM VERY LOW INCOME 18400 21000 23650 26250 28350 30450 32550 34650
LOW INCOME 29400 33600 37800 42000 45350 48700 52100 55450
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
De Baca County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Eddy County NM VERY LOW INCOME 21200 24200 27250 30250 32700 35100 37550 39950
LOW INCOME 33900 38700 43550 48400 52250 56150 60000 63900
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Grant County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Guadalupe County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Harding County NM VERY LOW INCOME 18000 20550 23100 25650 27750 29800 31850 33900
LOW INCOME 28750 32850 36950 41050 44350 47600 50900 54200
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Hidalgo County NM VERY LOW INCOME 17300 19800 22250 24700 26700 28700 30650 32650
LOW INCOME 27650 31600 35550 39500 42650 45800 49000 52150
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Lea County NM VERY LOW INCOME 18950 21650 24350 27050 29250 31400 33550 35750
LOW INCOME 30300 34650 38950 43300 46750 50250 53700 57150
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Lincoln County NM VERY LOW INCOME 20100 22950 25800 28650 30950 33250 35550 37850
LOW INCOME 32100 36700 41250 45850 49500 53200 56850 60500
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Los Alamos County NM VERY LOW INCOME 36400 41600 46800 52000 56200 60350 64500 68650
LOW INCOME 45500 52000 58500 65000 70200 75400 80600 85800
MOD.INC-GUAR.LOAN 93450 93450 93450 93450 123350 123350 123350 123350
Luna County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
McKinley CountyNM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Mora County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Otero County NM VERY LOW INCOME 17200 19650 22100 24550 26550 28500 30450 32450
LOW INCOME 27500 31450 35350 39300 42450 45600 48750 51900
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Quay County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Rio Arriba County NM VERY LOW INCOME 17800 20350 22900 25400 27450 29500 31500 33550
LOW INCOME 28450 32500 36600 40650 43900 47150 50400 53650
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Roosevelt County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
San Miguel County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Sierra County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Socorro County NM VERY LOW INCOME 16700 19100 21500 23850 25800 27700 29600 31500
LOW INCOME 26700 30500 34350 38150 41200 44250 47300 50350
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Taos County NM VERY LOW INCOME 17850 20400 22950 25450 27500 29550 31600 33600
LOW INCOME 28500 32550 36650 40700 43950 47200 50450 53700
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Union County NM VERY LOW INCOME 16800 19200 21600 24000 25950 27850 29800 31700
LOW INCOME 26900 30700 34550 38400 41450 44550 47600 50700
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650

 
As a New Mexico resident, you do not have to navigate the sometimes confusing USDA Loan application process alone. The certified agents at Consumer Real Estate Finance Co. are here to help. Contact us today for assistance!