Mortgage Rates in Enchanted Hills, New Mexico — March 2026
Updated March 2026 | Based on Enchanted Hills market data and regional lending conditions
Enchanted Hills is a growing city in New Mexico with a population of 12,798. The current 30-year fixed mortgage rate in Enchanted Hills is 6.77%, which is 0.12% above the national average. With a median home price of $221,000 and a 20% down payment of $44,200, homebuyers can expect a monthly principal and interest payment of approximately $1,149.
Current Mortgage Rates in Enchanted Hills, NM
Below are the current average mortgage rates available in the Enchanted Hills 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 | 6.77% | 6.65% | +0.12% |
| 15-Year Fixed | 6% | 5.89% | +0.11% |
| 5/1 ARM | 6.26% | 6.15% | +0.11% |
| FHA | 6.51% | 6.25% | +0.26% |
| VA | 6.26% | 6.05% | +0.21% |
| Jumbo | 7.02% | 6.85% | +0.17% |
Enchanted Hills Housing Market Overview
The Enchanted Hills housing market offers relatively affordable housing compared to many major cities. The median household income in Enchanted Hills is $47,700, and the cost of living index is 91.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $55,157 to comfortably afford the median-priced home in Enchanted Hills, which exceeds the current median household income.
Monthly Payment Breakdown for Enchanted Hills
Based on the median home price of $221,000 with 20% down ($44,200), here is what you can expect to pay monthly in Enchanted Hills:
15-Year vs. 30-Year Mortgage in Enchanted Hills
Choosing a 15-year mortgage in Enchanted Hills at 6% instead of a 30-year at 6.77% would save you $145,080 in total interest over the life of the loan. However, your monthly payment would be $1,492 instead of $1,149 — an increase of $343 per month.
Calculate Your Enchanted Hills 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 Enchanted Hills
What are the current mortgage rates in Enchanted Hills, NM?
As of March 2026, the average 30-year fixed mortgage rate in Enchanted Hills, New Mexico is 6.77%, while the 15-year fixed rate is 6%. FHA loans average 6.51% and VA loans 6.26%. These rates are 0.12% above the national average of 6.65%.
How much is a monthly mortgage payment in Enchanted Hills?
Based on the median home price of $221,000 with 20% down, the estimated monthly mortgage payment in Enchanted Hills is $1,149 for principal and interest. Including property taxes of $138/month, the total monthly housing cost is approximately $1,287.
What income do I need to buy a home in Enchanted Hills?
Using the 28% rule, you would need an annual income of approximately $55,157 to afford the median-priced home in Enchanted Hills at $221,000. The median household income in Enchanted Hills is $47,700. This means most households would need to either earn above the median or consider homes below $221,000.
Is Enchanted Hills a good place to buy a home in 2026?
Enchanted Hills offers a below-average cost of living with a cost of living index of 91.3 (national average = 100). The property tax rate in New Mexico is 0.75%, which is below the national average. Enchanted Hills has a population of 12,798 and offers a very affordable 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 Enchanted Hills, New Mexico area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.