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 USDA 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:

Quick Scroll
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 32500 32500 32500 32500 42900 42900 42900 42900
Apply Now LOW INCOME 52000 52000 52000 52000 68650 68650 68650 68650
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Farmington, NM MSA
VERY LOW INCOME 30050 30050 30050 30050 39700 39700 39700 39700
Apply Now LOW INCOME 48100 48100 48100 48100 63500 63500 63500 63500
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Las Cruces, NM MSA
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Santa Fe, NM MSA
VERY LOW INCOME 34650 34650 34650 34650 45750 45750 45750 45750
Apply Now LOW INCOME 55450 55450 55450 55450 73200 73200 73200 73200
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Catron County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Chaves County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Cibola County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Colfax County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Curry County, NM
VERY LOW INCOME 27800 27800 27800 27800 36700 36700 36700 36700
Apply Now LOW INCOME 44500 44500 44500 44500 58750 58750 58750 58750
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
De Baca County, NM
VERY LOW INCOME 28250 28250 28250 28250 37300 37300 37300 37300
Apply Now LOW INCOME 45200 45200 45200 45200 59650 59650 59650 59650
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Eddy County, NM
VERY LOW INCOME 34250 34250 34250 34250 45250 45250 45250 45250
Apply Now LOW INCOME 54800 54800 54800 54800 72350 72350 72350 72350
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Grant County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Guadalupe County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Harding County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Hidalgo County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Lea County, NM
VERY LOW INCOME 33450 33450 33450 33450 44200 44200 44200 44200
Apply Now LOW INCOME 53500 53500 53500 53500 70600 70600 70600 70600
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Lincoln County, NM
VERY LOW INCOME 28650 28650 28650 28650 37850 37850 37850 37850
Apply Now LOW INCOME 45850 45850 45850 45850 60500 60500 60500 60500
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Los Alamos County, NM
VERY LOW INCOME 57500 57500 57500 57500 75900 75900 75900 75900
Apply Now LOW INCOME 71900 71900 71900 71900 94900 94900 94900 94900
MOD.INC-GUAR.LOAN 103350 103350 103350 103350 136400 136400 136400 136400
Luna County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
McKinley County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Mora County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Otero County, NM
VERY LOW INCOME 27150 27150 27150 27150 35850 35850 35850 35850
Apply Now LOW INCOME 43450 43450 43450 43450 57350 57350 57350 57350
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Quay County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Rio Arriba County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Roosevelt County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
San Miguel County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Sierra County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Socorro County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Taos County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150
Union County, NM
VERY LOW INCOME 26850 26850 26850 26850 35450 35450 35450 35450
Apply Now LOW INCOME 42950 42950 42950 42950 56700 56700 56700 56700
MOD.INC-GUAR.LOAN 82700 82700 82700 82700 109150 109150 109150 109150

 
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!