New Mexico Mortgage Calculator
Estimate the monthly PITI payment on a New Mexico home. Preseeded with the state’s 0.67% effective property-tax rate, $1,400 average annual insurance, and $310,000 median home price.
Loan Parameters
$
$
Percentage
20.0 %
Loan Term
Advanced Options
$
Monthly Payment (PITI)
$1,961
- Principal & Interest
- $1,568
- Property Taxes
- $173
- Home Insurance
- $117
- PMI
- $103
Total Interest
$316,310
Total Cost
$668,620
Payoff Year
2056
New Mexico Property Tax, Insurance & Home Prices
- Effective property-tax rate
- 0.67%
- Avg annual insurance
- $1,400
- Median home price
- $310,000
Statewide averages, last reviewed May 2026. Actual rates and premiums vary significantly by county, city, and parcel — see the notes below.
Notable New Mexico Rules
New Mexico caps annual residential assessment increases at 3% under the “3% cap rule.” Veterans receive a $4,000 exemption from taxable value; seniors 65+ with income under the threshold may qualify for a value freeze.
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Frequently Asked Questions
- New Mexico's statewide effective property-tax rate is approximately 0.67% of home value (last reviewed May 2026). Actual county- and city-level rates vary; check your specific parcel before budgeting.