New Mexico FHA Loan Limits 2026

View FHA loan limits for all 33 counties in New Mexico. Select a county below to calculate your FHA monthly payment with local limits applied.

Counties

Lowest Limit

$541,287

Highest Limit

$692,300

High-Cost Areas

About 2026 FHA limits: The national floor is $541,287 and the ceiling is $1,249,125.New Mexico has 31 standard-limit counties and 2 high-cost areas. Limits are set by HUD based on median home prices.

FHA Loan Limits by County

County	1-Unit	2-Unit	3-Unit	4-Unit	Type
Bernalillo Cou	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Catron County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Chaves County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Cibola County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Colfax County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Curry County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
De Baca County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Dona Ana Count	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Eddy County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Grant County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Guadalupe Coun	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Harding County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Hidalgo County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Lea County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Lincoln County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Los Alamos Cou	$692,300	$886,250	$1,071,300	$1,331,350	High-Cost	Calculate
Luna County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Mckinley Count	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Mora County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Otero County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Quay County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Rio Arriba Cou	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Roosevelt Coun	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
San Juan Count	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
San Miguel Cou	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Sandoval Count	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Santa Fe Count	$569,250	$728,750	$880,900	$1,094,700	High-Cost	Calculate
Sierra County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Socorro County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Taos County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Torrance Count	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Union County	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate
Valencia Count	$541,287	$693,050	$837,700	$1,041,125	Standard	Calculate

Calculate Your FHA Payment in New Mexico

Use the calculator below with New Mexico pre-selected. Choose your county to see the exact FHA limit that applies to you.

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FHA Loan Calculator

Calculate FHA loan payments including upfront and monthly mortgage insurance premiums.

Data last updated: January 2026

FHA Loan Details

State

County

Home Price$400,000

$50,000$2,000,000

Down Payment3.5% ($14,000)

3.5%30%

Credit Score Range

Interest Rate

FHA rates are typically similar to conventional rates

Loan Term

Property Tax Rate (Annual)

Your FHA Loan Estimate

Total Monthly Payment

$3,081.61

Principal, interest, MIP, taxes & insurance

Principal & Interest$2,418.26

Monthly MIP$180.01

Property Tax$366.67

Home Insurance$116.67

Total Monthly$3,081.61

FHA Mortgage Insurance

Upfront MIP (1.75%)$6,755

Monthly MIP (0.55%/yr)$180.01/mo

Upfront MIP is financed into the loan. Monthly MIP is required for the life of the loan (for most FHA loans with less than 10% down).

Base Loan Amount

$386,000

Total Loan Amount

$392,755

Including upfront MIP

FHA vs Conventional Comparison

FHA Monthly Payment$3,081.61

Conventional Monthly*$3,085.18

Difference-$3.57/mo

*Conventional estimate assumes same rate with PMI at 0.7% until 20% equity. Actual rates and PMI may vary.

FHA Loan Benefits

Lower credit score requirements (580+ for 3.5% down)
Low down payment (3.5% minimum)
Down payment can come from gifts or grants
More flexible DTI requirements (up to 57%)

Your estimated FHA payment: $3,081.61/mo

FHA rates vary by lender. Get matched with FHA-approved lenders competing for your business.

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Disclaimer: FHA loan limits and MIP rates are subject to change. This calculator uses 2026 HUD data. Verify eligibility with an FHA-approved lender.

Frequently Asked Questions

What is FHA mortgage insurance premium (MIP)?

FHA MIP consists of two parts: an upfront premium of 1.75% of the loan amount (usually financed into the loan) and an annual premium of 0.55% paid monthly. Unlike conventional PMI, FHA MIP typically lasts the life of the loan for loans with less than 10% down.

What are the 2026 FHA loan limits?

For 2026, FHA loan limits range from $541,287 (floor) to $1,249,125 (ceiling) for single-family homes. The exact limit depends on your county. High-cost areas like San Francisco and New York have limits at the ceiling, while most areas are at or near the floor.

How much is FHA MIP in 2026?

In 2026, FHA MIP is 1.75% upfront (financed into the loan) plus 0.55% annually for most loans. On a $300,000 loan, that is $5,250 upfront and approximately $138 per month in ongoing MIP.

What credit score do I need for an FHA loan?

FHA loans require a minimum credit score of 580 for the 3.5% down payment program. Borrowers with scores between 500-579 may qualify with 10% down. Most lenders prefer 620+ for better rates and easier approval.

Can I remove MIP from my FHA loan?

For FHA loans originated after June 2013 with less than 10% down, MIP lasts the life of the loan. To remove it, you would need to refinance into a conventional loan once you have 20% equity. Loans with 10%+ down have MIP for 11 years.

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Understanding FHA Loan Limits in New Mexico

FHA loan limits in New Mexico vary by county and are set annually by the U.S. Department of Housing and Urban Development (HUD). For 2026, New Mexico's single-family FHA limits range from $541,287 to $692,300.

The variation in limits reflects differences in median home prices across New Mexico's counties. 2 counties are designated as high-cost areas with limits above the national floor of $541,287.

How FHA Limits Affect Your Home Purchase

The FHA loan limit for your county is the maximum mortgage amount you can obtain with an FHA loan. If you need to borrow more than your county's limit, you may need to consider a conventional loan or make a larger down payment. FHA loans require a minimum 3.5% down payment with a credit score of 580 or higher.

Other States

Looking at other states? Return to the FHA Calculator to explore limits in any state and county across the U.S.