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Bernalillo County FHA Loan Calculator

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

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Bernalillo County, NM Benchmarks

FHA averages
Typical Property Value$331,200
Average Down Payment9.2%
Average Interest Rate6.151%
Effective Tax Rate0.85%
$
%

$30,470 down · $300,730 financed

Estimated Monthly Payment

$2,376/mo

  • Principal & Interest$1,864
  • Property Tax$235
  • Home Insurance$150
  • FHA MIP$127
Amortization · Remaining Balance

Financed Loan Amount

$305,992

Total Interest

$365,117

Total of Payments

$671,109

*Includes financed FHA Upfront MIP of $5,263

Local Market Insights

Bernalillo County FHA Mortgage Overview

For Bernalillo County homebuyers, the 9.24% average down payment on an FHA loan provides accessible entry, but requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life—even with this equity stake. The 90.76% loan-to-value ratio confirms this is ideal for borrowers with sub-620 credit. At a 0.85% effective property tax rate and a 0.2% inflation-adjusted increase, monthly affordability is modestly impacted. When using an FHA loan calculator with PMI and taxes in Bernalillo County, NM, these factors ensure true costs reflect both principal and ongoing insurance.

Given the $331,199.68 average property value and 6.151% interest rate, the low down payment reduces upfront burden. The 100% primary occupancy rate indicates this data reflects owner-occupied buyers, not investors. For those exploring Bernalillo County FHA loan limits and tax implications, the MIP permanence is a critical long-term cost to factor into monthly budgets.

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.