Closing costs in New Mexico usually range from 2% to 5% of the home’s purchase price. These costs may include fees for appraisals, inspections, title insurance, and lender charges. Your loan officer can give you a personalized estimate based on your purchase.

For example, on a $300,000 home, buyers can expect to pay between $6,000 and $15,000 in closing costs. 

The most common loans among New Mexico buyers are:

• Conventional Loans – Flexible terms with competitive interest rates. Often preferred by buyers with strong credit and larger down payments, though options with as little as 3% down are available.

• FHA Loans – Backed by the Federal Housing Administration, these are popular with first-time buyers. They allow lower credit scores and down payments starting at 3.5%.

• VA Loans – Available to eligible veterans, active-duty service members, and surviving spouses. VA loans require no down payment and no private mortgage insurance (PMI).

• USDA Loans – Designed for qualifying buyers in rural and suburban areas. These loans also offer no down payment and reduced mortgage insurance costs.

New Mexico’s public schools vary widely in performance, with some districts and individual schools consistently earning high marks for academics and student outcomes, while statewide data shows significant challenges.

• Top districts include Los Alamos Public Schools and Texico Municipal Schools, which appear near the top of statewide rankings for academic achievement and college readiness. 

• Notable schools serve a range of needs across the state, but many districts still face hurdles including low proficiency rates and resource shortages. 

• The state uses systems like the NM Vistas platform to publish detailed school performance data across measures such as test proficiency and growth.

For full school and district data—including test scores, graduation rates, and performance comparisons—visit the New Mexico School Report Cards portal.