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Counselor, NM

The Best Mortgage Lenders in Counselor, NM

Compare verified mortgage lenders serving Counselor, New Mexico. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.

3
Top Lenders
4.7
Avg Rating
685+
Reviews
9
Loan Types

Available Loan Programs in Counselor

Conventional
FHA
VA
USDA
Jumbo
Refinance
First-time Homebuyer
Construction Loans
Down Payment Assistance

Featured Mortgage Lenders

1

Mortgage Solutions Financial

Mortgage Solutions Financial

★★★★☆
4.8/5

Mortgage Solutions Financial is one of New Mexico's highest-rated mortgage brokers with extensive experience serving rural communities throughout the state. They specialize in helping homebuyers in smaller towns like Counselor navigate the unique challenges of rural property financing. Their team has deep knowledge of USDA loans which are particularly relevant for the Counselor area, and they maintain strong relationships with multiple lenders to secure competitive rates. Customers consistently praise their personalized service, responsiveness, and expertise with New Mexico's specific mortgage requirements.

Experience:15 years
Reviews:187 customer reviews
6565 Americas Parkway NE, Albuquerque, NM 87110

Loan Types:

ConventionalFHAVAUSDAJumboRefinance
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2

Nusenda Credit Union

Nusenda Credit Union

★★★★☆
4.7/5

As New Mexico's largest credit union, Nusenda has been serving communities across the state for nearly nine decades, including rural areas like Counselor. They offer competitive mortgage rates and have specialized programs for first-time homebuyers and rural property financing. Their local decision-making process and community-focused approach make them particularly well-suited for serving the Counselor area. Members appreciate their transparent pricing, educational resources, and commitment to New Mexico communities, with many reviewers noting the exceptional personal service they received throughout the mortgage process.

Experience:87 years
Reviews:342 customer reviews
4100 Pan American Fwy NE, Albuquerque, NM 87107

Loan Types:

ConventionalFHAVAUSDAFirst-time HomebuyerConstruction Loans
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3

New Mexico Mortgage Finance Authority

New Mexico Mortgage Finance Authority

★★★★☆
4.6/5

The New Mexico Mortgage Finance Authority is a state-chartered authority specifically created to help New Mexicans achieve homeownership, with particular focus on serving rural and underserved communities like Counselor. They offer exclusive first-time homebuyer programs, down payment assistance, and special financing options that are uniquely tailored to New Mexico residents. Their expertise with USDA rural development loans makes them an excellent choice for Counselor homebuyers. Customers consistently rate them highly for their educational resources, patient guidance through the homebuying process, and ability to make homeownership accessible through their various assistance programs.

Experience:40 years
Reviews:156 customer reviews
344 4th St SW, Albuquerque, NM 87102

Loan Types:

First-time HomebuyerDown Payment AssistanceFHAVAConventionalUSDA
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Frequently Asked Questions

Common questions about mortgage lending in Counselor, NM

What are the typical down payment requirements for homes in the rural Counselor area?

In Counselor's rural market, many lenders may require a 20% down payment due to the unique property types and appraisal challenges. However, qualified buyers can often access USDA Rural Development loans, which offer 0% down payment options for eligible properties and income levels in this designated rural area. FHA loans with 3.5% down are also common for first-time buyers.

Are there any special mortgage considerations for buying land or a manufactured home in Counselor?

Yes, financing for land or manufactured homes in Counselor requires specific loan products. For land purchases, you'll typically need a land loan or a construction-to-permanent loan. Financing for manufactured homes is more limited; you'll need a lender familiar with FHA Title I or USDA loans for manufactured housing, and the home must be permanently affixed to a foundation.

What local or state programs can help first-time homebuyers in Counselor?

The New Mexico Mortgage Finance Authority (MFA) offers several programs beneficial for Counselor buyers, including down payment assistance grants and low-interest first-time homebuyer loans. Specifically, the "Home Now" program provides below-market interest rates and up to $8,000 in down payment assistance, which can be particularly helpful given the area's lower median incomes.

How does the lack of major banking institutions in Counselor affect getting a mortgage?

While Counselor has limited local banks, most mortgages are handled through online lenders or regional banks in nearby communities like Farmington or Gallup. It's crucial to work with a lender experienced in rural New Mexico properties, as they understand well and septic systems, land surveys, and the longer appraisal timelines common in this remote area.

Do property taxes or insurance costs in San Juan County impact mortgage affordability in Counselor?

Yes, San Juan County property taxes are relatively low compared to national averages, which helps with overall affordability. However, homeowners insurance can be higher due to rural fire protection costs and the potential for severe weather. Your lender will factor both into your debt-to-income ratio, and it's wise to get insurance quotes early in the process.

Nearby Cities

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Why Choose a Mortgage Lender in Counselor?

Local Market Knowledge

Lenders who understand Counselor's housing market can offer better guidance and competitive rates.

Multiple Loan Options

Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.

Proven Track Record

Work with lenders who have years of experience and hundreds of satisfied customers in New Mexico.

Ready to Find Your Perfect Mortgage Lender?

Connect with top-rated mortgage professionals in Counselor and get competitive rates on your home loan.