Mortgage Rates in Edgewood, New Mexico — March 2026
Updated March 2026 | Based on Edgewood market data and regional lending conditions
Edgewood is a growing city in New Mexico with a population of 6,647. The current 30-year fixed mortgage rate in Edgewood is 6.87%, which is 0.22% above the national average. With a median home price of $195,000 and a 20% down payment of $39,000, homebuyers can expect a monthly principal and interest payment of approximately $1,024.
Current Mortgage Rates in Edgewood, NM
Below are the current average mortgage rates available in the Edgewood area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.87% | 6.65% | +0.22% |
| 15-Year Fixed | 6.09% | 5.89% | +0.2% |
| 5/1 ARM | 6.32% | 6.15% | +0.17% |
| FHA | 6.56% | 6.25% | +0.31% |
| VA | 6.31% | 6.05% | +0.26% |
| Jumbo | 7.12% | 6.85% | +0.27% |
Edgewood Housing Market Overview
The Edgewood housing market offers relatively affordable housing compared to many major cities. The median household income in Edgewood is $48,700, and the cost of living index is 95.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $49,200 to comfortably afford the median-priced home in Edgewood, which exceeds the current median household income.
Monthly Payment Breakdown for Edgewood
Based on the median home price of $195,000 with 20% down ($39,000), here is what you can expect to pay monthly in Edgewood:
15-Year vs. 30-Year Mortgage in Edgewood
Choosing a 15-year mortgage in Edgewood at 6.09% instead of a 30-year at 6.87% would save you $130,320 in total interest over the life of the loan. However, your monthly payment would be $1,324 instead of $1,024 — an increase of $300 per month.
Calculate Your Edgewood Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Edgewood
What are the current mortgage rates in Edgewood, NM?
As of March 2026, the average 30-year fixed mortgage rate in Edgewood, New Mexico is 6.87%, while the 15-year fixed rate is 6.09%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.22% above the national average of 6.65%.
How much is a monthly mortgage payment in Edgewood?
Based on the median home price of $195,000 with 20% down, the estimated monthly mortgage payment in Edgewood is $1,024 for principal and interest. Including property taxes of $124/month, the total monthly housing cost is approximately $1,148.
What income do I need to buy a home in Edgewood?
Using the 28% rule, you would need an annual income of approximately $49,200 to afford the median-priced home in Edgewood at $195,000. The median household income in Edgewood is $48,700. This means most households would need to either earn above the median or consider homes below $195,000.
Is Edgewood a good place to buy a home in 2026?
Edgewood offers a below-average cost of living with a cost of living index of 95.4 (national average = 100). The property tax rate in New Mexico is 0.76%, which is below the national average. Edgewood has a population of 6,647 and offers a balanced lifestyle.
Mortgage Rates in Other New Mexico Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Edgewood, New Mexico area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.