Taos FHA Loan Rates, Closing Costs & Stats
Taos, NM
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Taos's 14 lenders originated 34 FHA loans during 2023. The total origination value was $8,750,000, with an average FHA loan value of $257,353.
Taos FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Taos
averaged
0.14%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Taos's average FHA mortgage closing costs are $8,229.
The average rate for the prior week (2024-11-22) was
6.63% and
one month ago for the week of 2024-10-25, the
average rate was 6.61%.
The average rate one year ago was 7%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.2%.
Taos FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Taos level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
Flagstar Bank, FSB | 4 | 7.09% | $11,156 |
UNITED WHOLESALE MORTGAGE, LLC | 4 | 6.57% | $10,729 |
QUICKEN LOANS, LLC | 3 | 6.24% | $10,131 |
MID AMERICA MORTGAGE, INC. | 3 | 5.88% | $3,326 |
PLAZA HOME MORTGAGE, INC. | 2 | 6.88% | $13,278 |
Waterstone Mortgage Corporation | 2 | 5.75% | $7,732 |
FBC MORTGAGE, LLC | 2 | 7.25% | $12,839 |
BOKF | 2 | 6.00% | $8,767 |
NBH Bank | 1 | 7.25% | $7,953 |
Mr. Cooper ( Nationstar Mortgage ) | 1 | 5.75% | $14,495 |
Nations Lending Corporation | 1 | 7.63% | $19,114 |
Barrington Bank & Trust Company, N.A. | 1 | 6.13% | $19,384 |
NEWREZ LLC | 1 | 6.75% | $12,147 |
NUSENDA | 1 | 6.38% | $2,935 |
The top Taos FHA lender as defined by loan originations is Flagstar Bank, FSB, with
4 FHA loans originated. Their average total fees are
$11,156, which is $427
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Taos FHA lenders (with over 10 loans originated) are
.
The lowest rate Taos FHA lenders (with over 10 loans originated) are
.
Taos FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
TAOS, NM | TAOS | 2022 | $423,200 | $541,750 | $654,850 | $813,850 |
TAOS, NM | TAOS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Taos (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $383,375 (10.6%) | $571,040 (14.1%) | 0.00 | 291 |
2018-02-01 | $382,000 (10.1%) | $649,263 (30.6%) | 0.00 | 281 |
2018-03-01 | $375,000 (10.9%) | $634,762 (29.5%) | 0.00 | 290 |
2018-04-01 | $367,200 (11.5%) | $630,509 (31.6%) | 0.00 | 306 |
2018-05-01 | $377,250 (11.3%) | $569,737 (21.2%) | 0.00 | 330 |
2018-06-01 | $397,000 (15.1%) | $574,266 (21.2%) | 0.00 | 363 |
2018-07-01 | $399,000 (14.0%) | $576,594 (23.4%) | 0.00 | 393 |
2018-08-01 | $393,500 (12.4%) | $565,128 (23.2%) | 0.00 | 417 |
2018-09-01 | $385,000 (10.2%) | $577,878 (26.2%) | 0.00 | 424 |
2018-10-01 | $389,750 (11.5%) | $578,033 (22.5%) | 0.00 | 398 |
2018-11-01 | $397,500 (10.7%) | $617,788 (22.1%) | 0.00 | 368 |
2018-12-01 | $398,000 (9.3%) | $660,618 (30.4%) | 0.00 | 344 |
2019-01-01 | $394,225 (2.8%) | $684,545 (19.9%) | 0.00 | 314 |
2019-02-01 | $389,750 (2.0%) | $577,865 (-11.0%) | 0.00 | 309 |
2019-03-01 | $385,286 (2.7%) | $560,667 (-11.7%) | 0.00 | 310 |
2019-04-01 | $379,000 (3.2%) | $537,015 (-14.8%) | 0.00 | 314 |
2019-05-01 | $376,000 (-0.3%) | $512,945 (-10.0%) | 0.00 | 347 |
2019-06-01 | $379,000 (-4.5%) | $518,336 (-9.7%) | 0.00 | 369 |
2019-07-01 | $377,000 (-5.5%) | $529,817 (-8.1%) | 0.00 | 390 |
2019-08-01 | $375,682 (-4.5%) | $532,198 (-5.8%) | 0.00 | 395 |
2019-09-01 | $376,705 (-2.2%) | $538,161 (-6.9%) | 0.00 | 397 |
2019-10-01 | $387,750 (-0.5%) | $547,060 (-5.4%) | 0.00 | 393 |
2019-11-01 | $399,000 (0.4%) | $575,331 (-6.9%) | 0.00 | 349 |
2019-12-01 | $399,000 (0.3%) | $570,499 (-13.6%) | 0.00 | 334 |
2020-01-01 | $409,725 (3.9%) | $591,052 (-13.7%) | 0.00 | 280 |
2020-02-01 | $399,000 (2.4%) | $588,395 (1.8%) | 0.00 | 281 |
2020-03-01 | $399,500 (3.7%) | $593,525 (5.9%) | 0.00 | 275 |
2020-04-01 | $399,000 (5.3%) | $582,835 (8.5%) | 0.00 | 265 |
2020-05-01 | $404,950 (7.7%) | $578,311 (12.7%) | 0.00 | 265 |
2020-06-01 | $425,000 (12.1%) | $579,654 (11.8%) | 0.00 | 262 |
2020-07-01 | $427,000 (13.3%) | $589,766 (11.3%) | 0.00 | 260 |
2020-08-01 | $446,000 (18.7%) | $639,941 (20.3%) | 0.00 | 228 |
2020-09-01 | $485,000 (28.8%) | $674,300 (25.3%) | 0.00 | 209 |
2020-10-01 | $495,000 (27.7%) | $724,426 (32.4%) | 0.00 | 205 |
2020-11-01 | $496,000 (24.3%) | $711,387 (23.7%) | 0.00 | 167 |
2020-12-01 | $477,000 (19.6%) | $681,581 (19.5%) | 0.00 | 157 |
2021-01-01 | $442,450 (8.0%) | $699,586 (18.4%) | 0.00 | 135 |
2021-02-01 | $458,225 (14.8%) | $728,735 (23.9%) | 0.00 | 113 |
2021-03-01 | $489,500 (22.5%) | $774,752 (30.5%) | 0.00 | 106 |
2021-04-01 | $495,750 (24.3%) | $797,966 (36.9%) | 0.00 | 117 |
2021-05-01 | $459,000 (13.4%) | $747,145 (29.2%) | 0.00 | 120 |
2021-06-01 | $448,000 (5.4%) | $718,114 (23.9%) | 0.00 | 147 |
2021-07-01 | $462,500 (8.3%) | $704,182 (19.4%) | 0.00 | 164 |
2021-08-01 | $465,725 (4.4%) | $714,656 (11.7%) | 0.00 | 164 |
2021-09-01 | $449,000 (-7.4%) | $713,376 (5.8%) | 0.00 | 147 |
2021-10-01 | $493,500 (-0.3%) | $807,810 (11.5%) | 0.00 | 138 |
2021-11-01 | $478,500 (-3.5%) | $791,943 (11.3%) | 0.00 | 117 |
2021-12-01 | $492,000 (3.1%) | $781,432 (14.7%) | 0.00 | 111 |
2022-01-01 | $479,000 (8.3%) | $780,874 (11.6%) | 0.00 | 99 |
2022-02-01 | $512,000 (11.7%) | $815,336 (11.9%) | 0.00 | 83 |
2022-03-01 | $478,500 (-2.3%) | $772,132 (-0.3%) | 0.00 | 91 |
2022-04-01 | $496,500 (0.2%) | $801,824 (0.5%) | 0.00 | 90 |
2022-05-01 | $572,000 (24.6%) | $812,921 (8.8%) | 0.00 | 98 |
2022-06-01 | $582,750 (30.1%) | $794,220 (10.6%) | 0.00 | 115 |
2022-07-01 | $609,000 (31.7%) | $849,758 (20.7%) | 0.00 | 139 |
2022-08-01 | $602,250 (29.3%) | $842,894 (17.9%) | 0.00 | 158 |
2022-09-01 | $562,250 (25.2%) | $802,627 (12.5%) | 0.00 | 163 |
2022-10-01 | $580,000 (17.5%) | $758,542 (-6.1%) | 0.00 | 162 |
2022-11-01 | $546,500 (14.2%) | $727,804 (-8.1%) | 0.00 | 172 |
2022-12-01 | $579,500 (17.8%) | $758,389 (-3.0%) | 0.00 | 164 |
2023-01-01 | $569,000 (18.8%) | $750,780 (-3.9%) | 0.00 | 149 |
2023-02-01 | $568,500 (11.0%) | $735,139 (-9.8%) | 0.00 | 140 |
2023-03-01 | $568,500 (18.8%) | $751,941 (-2.6%) | 0.00 | 130 |
2023-04-01 | $565,750 (14.0%) | $730,887 (-8.9%) | 0.00 | 139 |
2023-05-01 | $553,000 (-3.3%) | $719,682 (-11.5%) | 0.00 | 136 |
2023-06-01 | $593,750 (1.9%) | $732,308 (-7.8%) | 0.00 | 157 |
2023-07-01 | $577,000 (-5.3%) | $726,875 (-14.5%) | 0.00 | 171 |
2023-08-01 | $617,500 (2.5%) | $802,919 (-4.7%) | 0.00 | 166 |
2023-09-01 | $619,000 (10.1%) | $806,365 (0.5%) | 0.00 | 166 |
2023-10-01 | $625,000 (7.8%) | $847,389 (11.7%) | 0.00 | 171 |
2023-11-01 | $641,250 (17.3%) | $896,793 (23.2%) | 0.00 | 156 |
2023-12-01 | $649,000 (12.0%) | $915,799 (20.8%) | 0.00 | 149 |
2024-01-01 | $647,000 (13.7%) | $918,187 (22.3%) | 0.00 | 149 |
2024-02-01 | $629,750 (10.8%) | $1,075,151 (46.3%) | 0.00 | 155 |
2024-03-01 | $649,500 (14.3%) | $1,082,512 (44.0%) | 0.00 | 159 |
2024-04-01 | $662,375 (17.1%) | $899,813 (23.1%) | 0.00 | 167 |
2024-05-01 | $658,625 (19.1%) | $871,619 (21.1%) | 0.00 | 187 |
2024-06-01 | $649,000 (9.3%) | $869,947 (18.8%) | 0.00 | 200 |
2024-07-01 | $642,000 (11.3%) | $848,585 (16.7%) | 0.00 | 212 |
2024-08-01 | $630,000 (2.0%) | $852,109 (6.1%) | 0.00 | 221 |
2024-09-01 | $610,000 (-1.5%) | $841,795 (4.4%) | 0.00 | 227 |
2024-10-01 | $620,750 (-0.7%) | $848,563 (0.1%) | 0.00 | 223 |
Taos's median listing price comes in at 0% of the national average.
Taos's average listing price for 2024-10-01 was $848,563, a difference of $1,174 (0.1%) versus the prior year and $6,768 versus the prior month.
For the 2024-10-01 period, Taos had 223 MLS listings, a difference of -4 listings (-2%) versus the prior month and 52 listings (30%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Taos (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,900 sqft |
2018-02-01 | 0 days | 1,900 sqft |
2018-03-01 | 0 days | 1,848 sqft |
2018-04-01 | 0 days | 1,800 sqft |
2018-05-01 | 0 days | 1,864 sqft |
2018-06-01 | 0 days | 1,892 sqft |
2018-07-01 | 0 days | 1,895 sqft |
2018-08-01 | 0 days | 1,809 sqft |
2018-09-01 | 0 days | 1,800 sqft |
2018-10-01 | 0 days | 1,800 sqft |
2018-11-01 | 0 days | 1,800 sqft |
2018-12-01 | 0 days | 1,800 sqft |
2019-01-01 | 0 days | 1,800 sqft |
2019-02-01 | 0 days | 1,800 sqft |
2019-03-01 | 0 days | 1,800 sqft |
2019-04-01 | 0 days | 1,800 sqft |
2019-05-01 | 0 days | 1,800 sqft |
2019-06-01 | 0 days | 1,832 sqft |
2019-07-01 | 0 days | 1,842 sqft |
2019-08-01 | 0 days | 1,823 sqft |
2019-09-01 | 0 days | 1,833 sqft |
2019-10-01 | 0 days | 1,853 sqft |
2019-11-01 | 0 days | 1,866 sqft |
2019-12-01 | 0 days | 1,863 sqft |
2020-01-01 | 0 days | 1,886 sqft |
2020-02-01 | 0 days | 1,880 sqft |
2020-03-01 | 0 days | 1,862 sqft |
2020-04-01 | 0 days | 1,812 sqft |
2020-05-01 | 0 days | 1,857 sqft |
2020-06-01 | 0 days | 1,824 sqft |
2020-07-01 | 0 days | 1,908 sqft |
2020-08-01 | 0 days | 1,979 sqft |
2020-09-01 | 0 days | 2,000 sqft |
2020-10-01 | 0 days | 2,142 sqft |
2020-11-01 | 0 days | 2,152 sqft |
2020-12-01 | 0 days | 1,990 sqft |
2021-01-01 | 0 days | 1,896 sqft |
2021-02-01 | 0 days | 2,019 sqft |
2021-03-01 | 0 days | 1,955 sqft |
2021-04-01 | 0 days | 1,881 sqft |
2021-05-01 | 0 days | 1,777 sqft |
2021-06-01 | 0 days | 1,877 sqft |
2021-07-01 | 0 days | 1,876 sqft |
2021-08-01 | 0 days | 1,818 sqft |
2021-09-01 | 0 days | 1,864 sqft |
2021-10-01 | 0 days | 1,897 sqft |
2021-11-01 | 0 days | 1,860 sqft |
2021-12-01 | 0 days | 1,912 sqft |
2022-01-01 | 0 days | 1,869 sqft |
2022-02-01 | 0 days | 1,888 sqft |
2022-03-01 | 0 days | 1,880 sqft |
2022-04-01 | 0 days | 1,878 sqft |
2022-05-01 | 0 days | 1,933 sqft |
2022-06-01 | 0 days | 1,800 sqft |
2022-07-01 | 0 days | 1,966 sqft |
2022-08-01 | 0 days | 1,959 sqft |
2022-09-01 | 0 days | 1,899 sqft |
2022-10-01 | 0 days | 1,881 sqft |
2022-11-01 | 0 days | 1,810 sqft |
2022-12-01 | 0 days | 1,945 sqft |
2023-01-01 | 0 days | 1,927 sqft |
2023-02-01 | 0 days | 1,943 sqft |
2023-03-01 | 0 days | 1,953 sqft |
2023-04-01 | 0 days | 1,997 sqft |
2023-05-01 | 0 days | 1,941 sqft |
2023-06-01 | 0 days | 2,000 sqft |
2023-07-01 | 0 days | 1,918 sqft |
2023-08-01 | 0 days | 1,933 sqft |
2023-09-01 | 0 days | 1,945 sqft |
2023-10-01 | 0 days | 1,999 sqft |
2023-11-01 | 0 days | 2,000 sqft |
2023-12-01 | 0 days | 2,000 sqft |
2024-01-01 | 0 days | 2,040 sqft |
2024-02-01 | 0 days | 1,997 sqft |
2024-03-01 | 0 days | 2,000 sqft |
2024-04-01 | 0 days | 2,000 sqft |
2024-05-01 | 0 days | 1,923 sqft |
2024-06-01 | 0 days | 1,917 sqft |
2024-07-01 | 0 days | 1,906 sqft |
2024-08-01 | 0 days | 1,977 sqft |
2024-09-01 | 0 days | 1,938 sqft |
2024-10-01 | 0 days | 1,945 sqft |
Taos's median square footage for active listings during the 2024-10-01 period was 1,945 sqft. One year prior, the average listing was 1,999 sqft.