New Mexico closing cost calculator

New Mexico buyers pay no transfer or mortgage tax, only recording fees.

New Mexico’s rules checked September 30, 2026Runs in your browser. Nothing you type is saved.

State Closing date

New Mexico: No state transfer tax. Owner’s title is usually paid by the seller.

Purchase price

$

The loan

Loan type

Down payment

Interest rate

%

Term

Estimated cash to close $61,674

2%closing costs

Purchase price$280,000
Down payment (20%)$56,000
- Loan amount$224,000
Loan costs+$2,940
- Origination and lender feesest.+$2,240
- Appraisalest.+$700
Title and closing+$1,350
- Lender’s title insuranceest.+$500
- Settlement or escrow feeest.+$600
- Recording feesest.+$250
Taxes−$2,593
- Property tax credit from the sellerest.−$2,593
Prepaids and escrow+$3,527
- Homeowner’s insurance, first yearest.+$1,500
- Prepaid interest (27 days)est.+$1,077
- Property tax escrow (3 months)est.+$700
- Insurance escrow (2 months)est.+$250
Other costs+$450
- Home inspectionest.+$450
Cash to close$61,674

Estimated monthly payment$1,774

Principal and interest$1,416
Mortgage insurance$0
Property taxes$233
Insurance$125
HOA dues$0

An estimate, not a Loan Estimate or Closing Disclosure. Your lender's Loan Estimate and the title or escrow company give the final figures. Rates, fees and insurance vary by lender and property.

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A New Mexico purchase, worked out

The calculator opens on $280,000, about the median value of an owner-occupied home in New Mexico ($279,900, 2024 Census estimate), with 20% down on a 30-year conventional loan and a closing on December 5, 2026.

The buyer brings about $61,674: $56,000 down and $5,674 in closing costs, 2% of the price. New Mexico charges the buyer no state transfer or mortgage tax. The monthly payment comes to about $1,774, with property tax and insurance.

Cash to close on $280,000, 20% down
Down payment	$56,000
Origination and lender feesest.	+$2,240
Appraisalest.	+$700
Lender’s title insuranceest.	+$500
Settlement or escrow feeest.	+$600
Recording feesest.	+$250
Property tax credit from the sellerest.	−$2,593
Homeowner’s insurance, first yearest.	+$1,500
Prepaid interest (27 days)est.	+$1,077
Property tax escrow (3 months)est.	+$700
Insurance escrow (2 months)est.	+$250
Home inspectionest.	+$450
Cash to close	$61,674

Estimates are tagged “est.”; New Mexico’s taxes follow its rules. A “−” is a credit, like the seller’s share of this year’s property tax where it’s paid after the year ends.

At other prices

New Mexico has no state tax of its own on the buyer. Each row has 20% down on a conventional loan.

Price	New Mexico’s buyer taxes	Closing costs	Cash to close	Monthly payment
$250,000	—	$5,522	$55,522	$1,597
$500,000	—	$7,960	$107,960	$3,153
$750,000	—	$10,850	$160,850	$4,730
$1,000,000	—	$13,800	$213,800	$6,307
$2,000,000	—	$25,599	$425,599	$12,613

Buying in New Mexico: what to know

No buyer’s taxes

New Mexico has no buyer-paid transfer or mortgage tax.

No state transfer tax

New Mexico has no state or local transfer tax on deeds; only recording fees apply.

Title insurance

The seller customarily pays for the owner’s policy in New Mexico. Title premiums are set by the state’s Office of Superintendent of Insurance, so they don’t vary by company.

Who runs the closing

Title and escrow companies close New Mexico sales. An attorney isn’t required.

Property taxes and escrow

New Mexico generally bills the calendar year around November 1, with the first half due November 10 and the second half April 10 of the next year, so taxes are paid in arrears and the seller credits the buyer.

Buying in New Mexico: questions

What taxes does a buyer pay at closing in New Mexico?

None on the transfer or the loan. New Mexico buyers pay recording fees only.

Are title insurance rates the same everywhere in New Mexico?

Yes. New Mexico’s Office of Superintendent of Insurance sets title premiums, so they don’t vary by company.

Who closes a home sale in New Mexico?

Title and escrow companies handle New Mexico closings; an attorney isn’t required.

How much are closing costs in New Mexico?

On a $280,000 home with 20% down on a conventional loan, the calculator’s estimates put a New Mexico buyer’s closing costs at about $5,674, or 2% of the price, and cash to close at $61,674. New Mexico charges the buyer no state transfer or mortgage tax. Lender fees, insurance and the rate vary, so put in your lender’s Loan Estimate for a closer number.

Is anything I type saved?

No. The calculator runs in your browser and sends nothing to us. A copied link carries the numbers in the address itself, so only people you share it with can open them.