Best New Mexico Mortgage Lenders June 2023

Are you thinking of buying a house in New Mexico? New Mexico is one of the developed states in Mexico. According to the U.S. Census Bureau Survey, New Mexico’s housing unit is less than a million, New Mexico has a homeownership rate of 66% which is higher than the national average of 64%.

The median housing value of New Mexico is $174,700 which is lower than the national median housing value of $229,700. The house value varies depending on the location.

As a Mortgage borrower, it is important to consider the following;

Check your finances
Determine your budget
Know your mortgage options
Compare rates and terms from many lenders
Have an approval for mortgage
Read the print well

Do you know the best New Mexico mortgage lenders? No worry because in this article we will be writing down the best New Mexico mortgage lenders.

Here are the best mortgage lenders in New Mexico;

Best New Mortgage Lenders June 2023

1.Homefinity;- Homefinity has a minimum down payment of 3% and a minimum credit score which is not disclosed to the public.

2.Caliber Home Loans;- Caliber home loans have a minimum down payment of 3% and a minimum credit score of 620.

3.Carrington Mortgage;- Carrington Mortgage has a minimum down payment of 3% and a minimum credit score of 620.

4.PenFed Credit Union;- PenFed Credit Union has a minimum down payment of 0% for VA loans and minimum credit score of 620.

5.Truist Bank;- Truist Bank has a minimum down payment of 3% and a minimum credit score which is not disclosed to the public.

6.Chase;- Chase has a minimum down payment of 3% and a minimum credit score which is not disclosed to the public.

7.Lower.com ;- Lower.com has a minimum down payment of 3% and a minimum credit score of 620.

8.AmeriSave;- AmeriSave has a minimum down payment of 3% and a minimum credit score of 620.

9.Veterans United Home Loan;- Veterans United Home Loan has a minimum down payment of 3% and minimum credit score of 620.

10.PNC;- PNC has a minimum down payment of 3% and a minimum credit score of 620.

Review of Best New Mexico Mortgage Lenders June 2023

1.Homefinity – Best for online application and Approval

2.Caliber Home Loans – Best for online service

3.Carrington Mortgage – Best for borrowers with bad credit

4.PenFe d Credit Union – Best for lender credit and no lender fee

5.Truist Bank – Best for client relations

6.Chase – Best for low costs

7.Lower.com – Best for borrowers who prefer digital home lending

8.AmeriSave – Best for mortgage variety

9.Veterans United Home Loan – Best for Veterans Affairs loans

10.PNC – Best for low down-payment

The mortgage rate in New Mexico is 2.98% on average for 30 year fixed rate. Home interest rates range from 2.25% to 4% in New Mexico.

Other New Mexico Mortgage Lenders June 2023

PrimeLending – best for digital customer care

Real Genius – best for online application

New American Funding – best for low APR

Guild Mortgage – best for product selection

CMG Financial – best for first-time borrowers who want to crowd-fund their down payment.

Freedom Mortgage – best for product availability

LoanDepot – best for a digital-first mortgage
Alliant Credit Union – best for no down payment

Rocket Mortgage – best for customer service

Bank of America – best for large loan amounts

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