FY2025 USDA loan income limits for Los Alamos County.
Los Alamos County ranks #1 out of 33 counties in New Mexico for USDA Guaranteed loan income limits. The Direct loan limit of $104,200 is 67% above the New Mexico average of $62,553. The Guaranteed loan limit of $149,800 is 24% above the state average of $120,758.
USDA Direct Loans are intended for low- and very-low-income applicants. Direct loans are processed by the USDA and are tailored for people with incomes typically below 80% of the median income in their area.
USDA Guaranteed Loans are more accessible to a broader range of incomes and are processed by local lenders. They are suited for moderate-income families and typically support incomes up to 115% of the median income in their area.
| Topic | USDA Direct Loan | USDA Guaranteed Loan | Conventional Mortgage |
|---|---|---|---|
| Income limits | Yes, low income | Yes, moderate income | No |
| Who holds the loan? | USDA | Private lender | Private lender |
| Interest rate | As low as 1% with subsidy | Market rate | Market rate |
| Mortgage insurance | None | 1% upfront, .35% annually | Yes, if less than 20% down |
| Down payment | $0 depending on assets | $0 | Minimum 3% |
| Loan term limits | as long as 38 years | 30 years | 30 years |
| Credit requirement | ≥ 640 If lower, additional tradeline documentation is required | ≥ 640 | ≥ 620 |
| Primary residence | Yes | Yes | No |
| New construction | Yes | Yes | Yes |
| Geographical restriction | Yes, rural only | Yes, rural only | No |
| Homebuyer education required? | Yes | No | No |
| Home inspection required? | Yes and full report sent in | No | No |
| Avg. time to loan pre-approval / COE | Varies state to state | 1-3 days | 1-3 days |
| Subsidy recapture | Sometimes | No | No |
| Income generating property | No | No | Yes |
Compare USDA income limits with other counties in New Mexico.