Luna County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Luna County, New Mexico based on real HMDA transaction records.

Loan Details

US County (Smart Autofill)

Loan Type

Luna County, NM Benchmarks

FHA averages

Typical Property Value$223,247

Average Down Payment6.7%

Average Interest Rate6.282%

Effective Tax Rate0.55%

Median Tax Paid$687/yr

Tax Growth (Historical)+2.8%

Based on 98 regional loans totaling $19,860,000 (HMDA database).

Home Price

Down Payment

$14,958 down · $208,289 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$102 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$88 / month

Estimated Monthly Payment

$1,650/mo

Principal & Interest$1,309
Property Tax$102
Home Insurance$150
FHA MIP$88

Amortization · Remaining Balance

Financed Loan Amount

$211,935

Total Interest

$259,325

Total of Payments

$471,260

*Includes financed FHA Upfront MIP of $3,645

Local Market Insights

Luna County FHA Mortgage Overview

In Luna County, the 6.74% average down payment for FHA loans provides accessible entry, but the 93.26% Loan-to-Value ratio means mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan, making this ideal for owner-occupants with sub-620 credit. While the effective property tax rate is low at 0.55%, the 2.8% inflation-adjusted tax change will gradually impact monthly affordability. When evaluating an FHA loan with PMI and taxes in Luna County, NM, or using an FHA loan down payment tool in Luna County, New Mexico, remember the 6.282% average rate and $223,247 property value. The Luna County FHA loan limits and property tax environment favor first-time buyers seeking primary residences.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.