Bernalillo County, NM Closing Cost Calculator

A 20% down payment on a median Bernalillo County home requires $56,000 in cash — or $9,800 for an FHA-minimum 3.5% down payment. Buyers with less than 20% down will also need to budget for PMI or FHA MIP.

Bernalillo County's median home value of $280,000 is close to the national median of $310,000, putting most buyers in the conforming loan range with conventional or FHA options readily available.

Bernalillo County has one of the lowest property tax rates in our dataset at 0.59% — 46% below the national average of 1.10%. This keeps monthly PITI payments notably lower than in high-tax markets with comparable home values.

Based on the 0.59% effective rate and a median home value of $280,000, a typical homeowner in Bernalillo County pays approximately $1,652 in annual property taxes — or $138 per month added to their mortgage payment.

Sources: Tax Foundation 2025

Homeowners insurance in Bernalillo County runs approximately $1,750/year ($146/month), in line with the national average of $1,600.

Premium quotes in Bernalillo County typically range from $1,200 to $2,600 per year depending on home age, construction type, coverage limits, and your insurer. Always get multiple quotes.

Sources: NAIC 2024

A buyer purchasing the median Bernalillo County home ($280,000) with FHA's minimum 3.5% down would borrow $270,200 — well within the $541,287 baseline FHA limit for this county. FHA financing is a viable option for most buyers here.

With 20% down on a median-priced home, the loan amount of $224,000 stays $608,750 below the $832,750 conforming limit — giving buyers access to conventional Fannie/Freddie pricing without jumbo underwriting.

Sources: HUD ML 2025-23, FHFA 2026