New Mexico USDA Loan Rates, Closing Costs & Stats
New Mexico
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
New Mexico USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in New Mexico
averaged
6.61%
for the week of 2025-05-23, compared to the national average (all USDA variants) of
6.433% for the same period.
New Mexico's average USDA mortgage closing costs are $5,773.
The average rate for the prior week (2025-05-16) was
6.75% and
one month ago for the week of 2025-04-18, the
average rate was 6.53%.
The average rate one year ago was 7%.
For refis of the same type during the week of 2025-05-23, the average rate
was 6.31%.
New Mexico USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the New Mexico level.
The top New Mexico USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
13 USDA loans originated. Their average total fees are
$7,219, which is $924
higher than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee New Mexico USDA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($6,295), GUILD MORTGAGE COMPANY ($7,219), .
The lowest rate New Mexico USDA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (4.63%), GUILD MORTGAGE COMPANY (6.44%), .