Own Your Own Slice of The Land of Enchantment
Check With Beck | 505-235-9810 | becky.nexalo@gmail.com
A Mortgage Broker That Knows Your Market
With over 30 years of experience in mortgage and real estate, Becky Watkins is a trusted advisor to home buyers across the state of New Mexico. We’ll start with a conversation to understand your full financial goals, then we’ll work together to create a plan that works with your home ownership and future financial aspirations.
What’s the difference between a broker and a direct lender?
Not all loan officers are created equal - your interest rate and loan costs will tell that story.
A direct lender, also known as retail lenders, provide office space, technology, salaries, training, and other expenses that are passed on to you with higher interest rates and costs. These can include admin, processing, marketing, and the general overhead of a brick-and-mortar location.
Add to the fact that retail lenders have little flexibility in the programs they can offer a buyer. Working under one specific company, they are locked into the programs their employer offers.
Think of the difference in the cost between Whole Foods and Costco. Wholesale pricing applies to the mortgage industry too. That’s how traditional retail lenders and mortgage brokers differ. You get better deals, pricing, and fees from brokers.
A broker is like a personal shopper, with dozens of lenders and loan programs to best fit your situation. They have the freedom to choose from many companies’ catalogs of products, meaning you have more flexibility in the loan options available to you.
A mortgage broker is a great choice for buyers who want a variety of options in their loan programs and are looking for a consultative process to find the best solutions for them.
Buying a Home In New Mexico?
Many people have fallen in love with our little corner of the Southwest. If you’re looking from out of state or just want more information on what areas of New Mexico might work best for you, here’s an overview of the most popular areas.
Santa Fe
Where Tradition Meets Modern Living
Nestled in the foothills of the Sangre de Cristo Mountains, Santa Fe, the capital city of New Mexico, is a unique blend of rich cultural heritage and contemporary living. With its distinctive adobe architecture, vibrant arts scene, and stunning landscapes, Santa Fe offers a diverse and inviting environment for prospective homebuyers.
Albuquerque
Where Southwest Charm Meets Urban Energy
Situated along the Rio Grande, Albuquerque, affectionately known as the Duke City, offers a diverse and dynamic home buying market with a mix of cultural richness and modern amenities. With its Southwestern flair, stunning landscapes, and a thriving arts and culinary scene, Albuquerque provides a welcoming environment for prospective homebuyers.
Ready to make the leap to home ownership?
Rio Rancho
Suburban Tranquility with a Southwest Flair
Located adjacent to Albuquerque, Rio Rancho beckons homebuyers with its serene landscapes, family-friendly atmosphere, and a unique blend of Southwestern charm. As one of the fastest-growing cities in New Mexico, Rio Rancho offers a balanced mix of suburban living and proximity to the vibrant culture of Albuquerque.
How We Help New Mexico Buyers
Already Own Your Home In New Mexico?
If you already have your own little slice of New Mexico, you still have many options to leverage your existing equity. Depending on your budget, your short- and long-term financial goals, and the market, you can use your home to make your next move into financial security.
Search your home’s address below to see the recent sales near you.
Home Loan Options Available to New Mexico Buyers
Buying a home in New Mexico offers home buyers a variety of loan program options. The best loan program for you will depend on many factors, including your credit situation, cash available for a down payment, your current home ownership status, and your financial goals.
Here are the most common loan types we help buyers with in our New Mexico markets.
FHA loans are government-insured mortgages, making homeownership more accessible with a down payment as low as 3.5%, making them an attractive option for individuals entering the housing market.
Conventional Home Loans in New Mexico
Conventional loans are traditional mortgages not insured or guaranteed by the government, typically requiring a higher credit score and a larger down payment, but offering flexibility in terms and competitive interest rates.
Reserved for eligible veterans, active-duty service members, and their spouses, VA loans are government-backed mortgages offering favorable terms, including no down payment requirement and competitive interest rates.
With a HELOC, homeowners can access funds as needed, repay, and reuse the credit line, making it a dynamic financial tool that leverages home equity to address ongoing or unexpected financial needs.
Debt Service Coverage Loans in New Mexico
DSCR loans are tailored for commercial real estate investors and businesses, focusing on the property's ability to generate income by assessing the ratio of the property's net operating income to its debt obligations.
Looking for guidance on rental properties in New Mexico?
Learn More About Investment Property Types: What’s Best For New Mexico Real Estate Investors
FAQs for New Mexico Mortgages
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Down payment amounts vary widely based on the home price and the loan program being used. FHA loans can offer down payments as low as 3.5%, while VA loans can offer up to 100% financing with certain qualifications. Check with Beck about finding the best loan program for your situation.
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Credit score requirements depend on the loan program being used and for what purpose. Brokers offer better options for a variety of credit situations and can go lower on a credit score requirement than you may think.
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New Mexico has some of the lowest property tax rates in the U.S. at 0.73% as of 2023.
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New Mexico is a popular destination for retirees for the warm, dry climate, many outdoor activities, and laid-back atmosphere. Check with Beck about finding the ideal city and neighborhood to retire to in New Mexico.
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First time buyers are considered anyone who has not owned a principal home in the last three years. Depending on your recent home ownership situation, you may qualify for first-time buyer programs even with past mortgages.
Your New Mexico Mortgage and Real Estate Expert
Check with Beck about your home ownership options in New Mexico. We’ll work together to find the best location, loan program, and long-term financial plan to assure your next best step into home ownership.
Other Areas We Serve
Boulder, Colorado
Boulder's unique character requires a nuanced understanding. Our local mortgage brokers will guide you through Boulder's specific lending landscape, ensuring you get the best possible financing for your new home.
Denver, Colorado
Denver's competitive market demands a strategic approach. Our experienced brokers have the local knowledge and connections to navigate multiple lenders and find the most competitive rates and terms for your Denver home.
Colorado Springs, Colorado
Colorado Springs boasts a strong military presence and a flourishing housing market. Our local mortgage brokers are experts in navigating VA loans and other programs that can help veterans and active-duty personnel achieve their homeownership goals.
Fort Collins, Colorado
Fort Collins offers a vibrant community with diverse housing options. Our mortgage brokers understand the local market and can help you navigate financing options, from first-time homebuyer programs to jumbo loans for luxury properties.
Serving Home Buyers in New Mexico
In New Mexico's diverse market, an experienced mortgage broker can guide you toward the right loan option, whether you're drawn to Albuquerque's urban core or Santa Fe's unique charm. Their local knowledge helps you understand neighborhood nuances and secure the financing that aligns with your dream home.
Serving Home Buyers in Colorado
The Colorado housing market can be competitive, but a local mortgage broker can help you navigate it with ease. Their expertise in local loan programs and connections with lenders ensure you get the best rates and navigate the complexities of the process.
Albuquerque, New Mexico
Albuquerque’s housing market requires a seasoned mortgage broker to navigate local loan options and programs. We'll help you find the perfect fit for your needs, from historic districts to modern communities.
Santa Fe, New Mexico
Santa Fe's charm comes with distinct financing considerations. Our local experts understand the intricacies of the Santa Fe market, ensuring a smooth and successful homebuying journey.
Rio Rancho, New Mexico
Rio Rancho's rapid growth offers exciting opportunities. Our mortgage brokers stay informed about the latest loan options for this dynamic market, helping you secure the best deal on your dream home.