One-Time Close Loans | FHA and VA Construction Loans
VA and FHA One-Time Close Construction Loans

2023 FHA Construction Loan Limits in NEW MEXICO tell homebuyers how much borrowing power they have to build a home. VA Limits are set by the lenders.

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VA Loan - One-Time Close Construction Loan
FHA Loan - One-Time Close Construction Loan

2023 VA and FHA Construction Loan Limits

Borrow for Single Family Home Loans in NEW MEXICO Counties

The FHA has a maximum construction loan amount that it will insure, which is known as the FHA lending limit. These loan limits are calculated and updated annually, and are influenced by the conventional loan limits set by Fannie Mae and Freddie Mac. The type of home, such as single-family or duplex, can also affect these numbers.

Construction loan limits no longer apply to new VA Loans. The Department of Veterans Affairs (commonly referred to as the VA) can now back larger loans than previous allowed. This change doesn't mean that you have unlimited borrowing power. Your lender will still have credit requirements that you need to meet as well as maximum loan amounts based on their own standards. VA lenders establish their own limits based on company policies. The amount we generally see is shown below, labeled as the VA Lender Limit.

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"For 2023, the FHA floor was set at $472,030 for single-family home loans. This lending limit covers most U.S. counties."

33 match(es) found

BERNALILLO County
ALBUQUERQUE, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
CATRON County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
CHAVES County
ROSWELL, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
CIBOLA County
GRANTS, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
COLFAX County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
CURRY County
CLOVIS, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
DE BACA County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
DONA ANA County
LAS CRUCES, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
EDDY County
CARLSBAD-ARTESIA, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
GRANT County
SILVER CITY, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
GUADALUPE County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
HARDING County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
HIDALGO County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
LEA County
HOBBS, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
LINCOLN County
RUIDOSO, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
LOS ALAMOS County
LOS ALAMOS, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $583,050
LUNA County
DEMING, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
MCKINLEY County
GALLUP, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
MORA County
LAS VEGAS, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
OTERO County
ALAMOGORDO, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
QUAY County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
RIO ARRIBA County
ESPANOLA, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
ROOSEVELT County
PORTALES, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
SAN JUAN County
FARMINGTON, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
SAN MIGUEL County
LAS VEGAS, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
SANDOVAL County
ALBUQUERQUE, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
SANTA FE County
SANTA FE, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $503,700
SIERRA County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
SOCORRO County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
TAOS County
TAOS, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
TORRANCE County
ALBUQUERQUE, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
UNION County
NON-METRO
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
VALENCIA County
ALBUQUERQUE, NM
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030

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