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FHA Loans

FHA loans differ from conventional loans in a number of ways. The down payment required for a FHA-insured loan, is usually much lower than for conventional loans. FHA loans also have lower credit requirements than conventional loans, making them more available to a wider range of potential homebuyers.

FHA loans offer borrowers several other valuable benefits, not least of which is those aforementioned smaller down payments. Unlike a conventional loan, which ordinarily requires 10-20% down, FHA-insured loans only require down payments as low as 3.5-5%

The FHA is also more flexible in calculating factors to determine whether or not to approve the loan factors such as household income and repayment ratios.

Local FHA Loan directory for NM :
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Abiquiu Alto Anthony Arroyo Hondo
Alamogordo Amalia Anton Chico Arroyo Seco
Albuquerque Amistad Aragon Artesia
Alcalde Angel Fire Arenas Valley Aztec
Algodones Animas Arrey

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New Mexico News
Governor signs law to allow guns in some liquor-serving restaurants

People licensed for concealed handguns can take their weapons into New Mexico restaurants serving beer and wine under a new state law.


Michigan fugitive arrested in New Mexico

A Michigan man who has spent nine years on the run has been captured in northwestern New Mexico.


NM job seekers don't have to disclose

New Mexico has become the second state in the nation to "ban the box" after Gov.


Utility shut-off moratorium ends Monday

New Mexico's largest utility says help is available for income-eligible customers who have a past-due bill when protection from utility shut-off ends next Monday.


Oscar winners have N.M. connections

The Oscar spotlight is shining on New Mexico after big wins by "The Hurt Locker" and "Crazy Heart" at the Academy Awards.


New Mexico lawmakers end budget-balancing session

The Legislature adjourned a politically difficult special session Thursday after putting the finishing touches on more than $230 million in tax increases to balance the state budget next year.


Commercial Spaceflight Federation Commends New Mexico for Passage of Key Liability Legislation

PRESS RELEASE Date Released: Tuesday, March 2, 2010 Source: Commercial Spaceflight Federation - Comments On Saturday, New Mexico Gov.


Law requires online governmental info

A new law will allow New Mexicans to go to a governmental Web site to track the salaries of political appointees in state jobs.


Most state offices closed today

Today marks another furlough day for state workers in New Mexico - meaning most state offices will be closed and New Mexicans won't be able to do business with them.


N.M. lawmakers OK $200 million tax increase package

The state Legislature approved a measure Wednesday to raise taxes by more than $200 million next year to help balance the state budget, the largest tax increase package in more two decades.


New Mexico Governor Signs Appraisal Management Company Legislation into Law - Puts AMCs "On Notice"

New Mexico Gov. Bill Richardson signed Senate Bill 138 into law March 1. S.B. 138 will require that appraisal management companies post a surety bond or equivalent means of security with the Regulation and Licensing Department in order to operate in the state.


Injured Survivors In Artesia Refinery Explosion File Lawsuit

Two days after an explosion and fire killed two Texas men at a southeastern New Mexico oil refinery, one of the injured survivors has filed a lawsuit that details the cause -- a welding accident on a large tank partially filled with tar.


House Considers $200M Tax Increase Package

Lawmakers are trying to put the finishing touches on a state budget and tax increase package.


Oregon psychologists could get OK to prescribe drugs

Oregon could become the third state where psychologists can prescribe drugs, if the governor signs a bill passed by the Legislature.


2 workers killed in New Mexico oil refinery fire

Federal and state investigators were probing blackened debris Wednesday at a southeastern New Mexico oil refinery where a storage tank explosion killed two Texas men and critically injured two others.


2 employees killed, 2 others injured after storage tank explodes at New Mexico oil refinery

Authorities say two employees at an oil refinery in southeast New Mexico are dead and two others critically injured after a storage tank exploded into flames.


Election day across much of New Mexico

Voters across much of New Mexico are choosing new leaders in several city elections Tuesday.


Special Session of New Mexico Legislature Postponed Until Monday

A special session of the New Mexico Legislature dealing with budget issues was scheduled to start at Noon tomorrow, as announced by Governor Bill Richardson.


New Mexico's Academy Awards history

In recent years, films with a New Mexico connection have often been recognized by the Academy of Motion Picture Arts and sciences, the folks who hand out those little Oscar statuettes.


Gov. Bill Richardson signs 4 bills into law

Gov. Bill Richardson has signed four bills into law from the recently concluded New Mexico regular legislative session, including a bill that protects state employees who speak out about unlawful activity and government corruption.


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"Our family would like to thank Somerset Mortgage Lenders for getting us out of foreclosure. Without your help we do not know what would have become of our family. When we first called, we were in Chapter 13 bankruptcy...Not only will we now be able to keep our home, but we'll be able to put ourselves on track financially, thanks to all the efforts of the wonderful people at Somerset. We will be forever grateful to you all." - Scott & Amy
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