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 31450 31450 31450 31450 41500 41500 41500 41500
Apply Now LOW INCOME 50300 50300 50300 50300 66400 66400 66400 66400
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Farmington, NM MSA
VERY LOW INCOME 29400 29400 29400 29400 38800 38800 38800 38800
Apply Now LOW INCOME 47050 47050 47050 47050 62100 62100 62100 62100
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Las Cruces, NM MSA
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Santa Fe, NM MSA
VERY LOW INCOME 34350 34350 34350 34350 45350 45350 45350 45350
Apply Now LOW INCOME 54950 54950 54950 54950 72550 72550 72550 72550
MOD.INC-GUAR.LOAN 79000 79000 79000 79000 104300 104300 104300 104300
Catron County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Chaves County, NM
VERY LOW INCOME 26250 26250 26250 26250 34650 34650 34650 34650
Apply Now LOW INCOME 42000 42000 42000 42000 55450 55450 55450 55450
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Cibola County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Colfax County, NM
VERY LOW INCOME 26450 26450 26450 26450 34900 34900 34900 34900
Apply Now LOW INCOME 42300 42300 42300 42300 55850 55850 55850 55850
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
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 78200 78200 78200 78200 103200 103200 103200 103200
De Baca County, NM
VERY LOW INCOME 27100 27100 27100 27100 35750 35750 35750 35750
Apply Now LOW INCOME 43350 43350 43350 43350 57200 57200 57200 57200
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Eddy County, NM
VERY LOW INCOME 31900 31900 31900 31900 42100 42100 42100 42100
Apply Now LOW INCOME 51050 51050 51050 51050 67400 67400 67400 67400
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Grant County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Guadalupe County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Harding County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Hidalgo County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Lea County, NM
VERY LOW INCOME 32150 32150 32150 32150 42450 42450 42450 42450
Apply Now LOW INCOME 51450 51450 51450 51450 67900 67900 67900 67900
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Lincoln County, NM
VERY LOW INCOME 28650 28650 28650 28650 37800 37800 37800 37800
Apply Now LOW INCOME 45850 45850 45850 45850 60500 60500 60500 60500
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Los Alamos County, NM
VERY LOW INCOME 54400 54400 54400 54400 71800 71800 71800 71800
Apply Now LOW INCOME 68000 68000 68000 68000 89750 89750 89750 89750
MOD.INC-GUAR.LOAN 97750 97750 97750 97750 129050 129050 129050 129050
Luna County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
McKinley County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Mora County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Otero County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Quay County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Rio Arriba County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Roosevelt County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
San Miguel County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Sierra County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Socorro County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Taos County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200
Union County, NM
VERY LOW INCOME 26150 26150 26150 26150 34500 34500 34500 34500
Apply Now LOW INCOME 41850 41850 41850 41850 55250 55250 55250 55250
MOD.INC-GUAR.LOAN 78200 78200 78200 78200 103200 103200 103200 103200

 
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!