Heard a lot about predatory home equity lenders? So have we and that is why we strive to provide you with a quality list of Credit Unions,Banks, Mortgage Brokers, or Savings and Loans lenders that may lend New Mexico home equity loans. We suggest you read as much as possible about each lender and then make your decision.
Some quick facts on New Mexico owner occupied homes with a mortgage1:
The median New Mexico home price is $121,289.
83.6% of Mexico home owners have only a single mortgage.
Only 0.7% of home owners in Mexico have both a second mortgage and a home equity loan.
While the median income for all of New Mexico is $42,240, the median income for owner occupied New Mexico homes with a mortgage is $51,463.
The median monthly New Mexico housing cost is $935.
Mexico Median Annual real estate taxes are $820.
While the national average Expedian Credit score is 678, the average for New Mexico is 663.
Non-business bankruptcies in New Mexico have gone from 6,519 in 2000 to 8,793 in 2004.
The Financial Institutions Division of the New Mexico Regulation and Licensing Department regulates mortgage loan companies and mortgage loan brokers. More than 1,230 Mortgage Loan Companies and Loan Brokers are documented with the State of New Mexico. New Mexico’s registrant list is available for approximately $0.25 per page from the Financial Institutions Division, at (505) 827-7100. The New Mexico Mortgage Loan Company and Loan Broker Act was enacted in 19832.
New Mexico Counties:
Bernalillo County, Catron County, Chaves County, Cibola County,
Colfax County, Curry County, De Baca County, Dona Ana County, Eddy
County, Grant County, Guadalupe County, Harding County, Hidalgo
County, Lea County, Lincoln County, Los Alamos County, Luna County,
McKinley County, Mora County, Otero County, Quay County, Rio Arriba
County, Roosevelt County, Sandoval County, San Juan County, San Miguel
County, Santa Fe County, Sierra County, Socorro County, Taos County,
Torrance County, Union County, Valencia County
Source: US Census Bureau 2004 American Community Survey
Source: Coalition for Mortgage reform (www.mortgagereform.org)
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.
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