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Mora County FHA Loan Calculator

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

Loan Details

Mora County, NM Benchmarks

FHA averages
Typical Property Value$137,500
Average Down Payment10.8%
Average Interest Rate6.875%
Effective Tax Rate0.50%
Median Tax Paid$885/yr
Tax Growth (Historical)+33.7%
Based on 4 regional loans totaling $470,000 (HMDA database).
$
%

$14,850 down · $122,650 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$57 / month

$

Annual premium

$

Per month

%

$52 / month

Estimated Monthly Payment

$1,080/mo

  • Principal & Interest$820
  • Property Tax$57
  • Home Insurance$150
  • FHA MIP$52
Amortization · Remaining Balance

Financed Loan Amount

$124,796

Total Interest

$170,490

Total of Payments

$295,287

*Includes financed FHA Upfront MIP of $2,146

Local Market Insights

Mora County FHA Mortgage Overview

For homebuyers in Mora County, the 10.84% down payment on an FHA loan provides accessible entry, though mandatory Mortgage Insurance Premiums (MIP) are required for the life of the loan regardless of equity. With a high 89.16% loan-to-value ratio and 100% primary occupancy, this data confirms standard owner-occupied purchases. The 0.50% property tax rate is modest, but the 33.7% inflation-adjusted tax increase significantly impacts true monthly affordability. When evaluating an FHA loan with PMI and taxes in Mora County, NM, these factors—combined with the average 6.875% rate on a $137,500 property—underscore the need to budget for both MIP and rising tax burdens.

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.