Forgotten Your Password?

Need to Register?

New Mexico VA Loans

  • Buy a Home with 0% Down
  • Refinance to Lower Monthly Payments
  • Lower your monthly payment
  • Easy to Qualify
Property Zip Code
How is your credit?
Secure Form Privacy Policy | Terms of Use

Secure a VA Mortgage in New Mexico

Veterans who live in New Mexico can take advantage of the New Mexico VA loan to help fund either a home purchase or the refinance of an existing mortgage.  This loan option is available only to veterans of the US Armed Services and is supported and backed by the Department of Veteran Affairs (VA).

What is the VA Loan?

The VA loan program helps veterans purchase homes and build stable wealth.  This is the purpose that it was designed to serve, and it does this very well.  There is no better loan program for veterans to utilize.

VA loans are originated through private lenders and guaranteed by the financial security of the VA.  These private lenders can offer better terms to veterans than would otherwise be possible due to this backing.

VA Loan Benefits in New Mexico

The primary advantages and benefits that the VA loan program provides are outlined here.

  • No down payment is required in most cases.  On top of this, no PMI is necessary.  This is rare for a zero down loan.
  • You can pay the loan off as fast as you want without penalty.  This can save you a lot of money, if you’re able to make extra payments each year.
  • You don’t have to prove high income, large cash reserves, or high credit.

VA Loan Requirements and Eligibility

It doesn’t take much more than simple veteran status in order to qualify for a VA loan.  You need to be an American citizen, of course, as well as a veteran who has served at least 90 days of active duty consecutively.  Beyond this, however, there aren’t many more requirements.  You must simply obtain a certificate of eligibility from the VA to prove that you are a veteran and that you were never dishonorably discharged.  Once you have this certificate, you are free to contact a VA loan specialist and get the funding you need.

VA Refinance

The VA wants to help homeowners build wealth.  For this reason, the New Mexico VA streamline refinance was created.  This refinance program allows veterans to refinance their existing mortgages into new mortgages with lower rates and better terms, all without much of the hassle that typical refinances require.  Much of the necessary paperwork and standard fees are eliminated in the streamline program.

New Mexico VA Mortgage Rates

The most important element of any home purchase or refinance loan is the mortgage rate.  This is true of VA loans as well.  Any VA loan that you take out must come with a low interest rate, or it may not be worth it.  Check with several local lenders to get an idea of what rates are available to you.  The best mortgage rates are sometimes difficult to find.  Take your time and do some research.

VA Lenders in New Mexico

Lenders can be hard to find if you don’t know where to look.  Fill out the form above to get started, and we’ll find four local lenders for you who will get in touch with you and advise you about local mortgage rates and VA loan limits.  If you need more information, contact the Department of Veteran Affairs.

New Mexico Military Information

There are 4 active military installations in New Mexico.  These facilities are Cannon Air Force Base, Holloman Air Force Base, Kirtland Air Force Base, and White Sands Missile Range.  These military bases are where VA home loan applicants in New Mexico are mostly from.

VA Loan Lending Limits in New Mexico

Below is the list of the maximum VA loan limits for counties in New Mexico:

County Loan Limit
CATRON $417,000
CHAVES $417,000
CIBOLA $417,000
COLFAX $417,000
CURRY $417,000
DE BACA $417,000
DONA ANA $417,000
EDDY $417,000
GRANT $417,000
GUADALUPE $417,000
HARDING $417,000
HIDALGO $417,000
LEA $417,000
LINCOLN $417,000
LOS ALAMOS $417,000
LUNA $417,000
MCKINLEY $417,000
MORA $417,000
OTERO $417,000
QUAY $417,000
RIO ARRIBA $417,000
ROOSEVELT $417,000
SANDOVAL $417,000
SAN JUAN $417,000
SAN MIGUEL $417,000
SANTA FE $417,000
SIERRA $417,000
SOCORRO $417,000
TAOS $417,000
TORRANCE $417,000
UNION $417,000
VALENCIA $417,000

Local Cities

user suit Lenders in: New Mexico.

Subscribe to our news feed.