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Rio Arriba County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Rio Arriba 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

Rio Arriba County, NM Benchmarks

FHA averages
Typical Property Value$357,289
Average Down Payment12.7%
Average Interest Rate6.380%
Effective Tax Rate0.22%
$
%

$45,376 down · $311,913 financed

Estimated Monthly Payment

$2,329/mo

  • Principal & Interest$1,981
  • Property Tax$66
  • Home Insurance$150
  • FHA MIP$132
Amortization · Remaining Balance

Financed Loan Amount

$317,372

Total Interest

$395,797

Total of Payments

$713,169

*Includes financed FHA Upfront MIP of $5,458

Local Market Insights

Rio Arriba County FHA Mortgage Overview

In Rio Arriba County, the FHA loan market is defined by accessible entry via a 12.69% down payment, yet this requires mandatory Mortgage Insurance Premiums (MIP) for the loan’s life, even with the $357,289 average property value. The 87.31% loan-to-value ratio underscores minimal equity, making this ideal for buyers with sub-620 credit scores seeking primary residences. A 0.22% effective property tax rate, with a -1.0% inflation-adjusted decrease, enhances monthly affordability. When evaluating an FHA mortgage with property taxes, the low tax burden slightly offsets the permanent MIP cost, a key factor for Rio Arriba County homebuyers.

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.