New Mexico Loan Comparison

Find and compare loans available to residents of New Mexico. Select a loan category below to see lender options, rates, and state-specific consumer protections.

New Mexico Lending Overview

Personal Loan APR cap

36%

Median Home Price

$310,000

Median Household Income

$57,000

Avg Student Debt

$34,256

State Regulator

New Mexico Financial Institutions Division

Notable law: New Mexico HB 132 (2023) lowered the consumer loan APR ceiling from 175% to 36%, ending a high-cost installment loan market that had targeted low-income communities.

Loan Categories in New Mexico

Personal Loans

Unsecured personal loans for debt consolidation, home improvement, major purchases, or emergency expenses.

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Mortgage

Home purchase loans, refinancing, and home equity products from top mortgage lenders.

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Auto Loans

New and used auto purchase loans plus auto refinancing options from national and regional lenders.

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Student Loans

Private student loans and refinancing options to fund undergraduate, graduate, and professional programs.

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Business Loans

Term loans, SBA-backed loans, lines of credit, and equipment financing for small and medium businesses.

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New Mexico Lending Regulator

Consumer lenders in New Mexico are overseen by the New Mexico Financial Institutions Division. File complaints or verify lender licenses directly with this agency.

New Mexico HB 132 (2023) lowered the consumer loan APR ceiling from 175% to 36%, ending a high-cost installment loan market that had targeted low-income communities.