USDA and FHA Pro and Con in North-Hobbs, Lea County, NM
In 2026, the USDA loan cap in North-Hobbs within Lea, NM, is $285,000. The FHA limit for a single-family home is $356,362.
Use the Lendersa® USDA loan calculator to contrast today's top USDA and FHA rates, determining the necessary income, credit, reserves, and paperwork required. Our advanced calculator allows side-by-side comparison of USDA, FHA, Conforming, and VA programs to help find the best option for you in .
Loan limits and requirements for 2026 in North-Hobbs, Lea, NM
Type
Limit
Down Payment
USDA
$285,000
0%
FHA
$356,362
3.5%
Conventional
$548,250
3%
Explore USDA and FHA Loans in North-Hobbs, NM
Lendersa® aims to swiftly connect you with the best USDA or FHA loan, hassle-free. Start with one of three approaches that align you with suitable lenders and USDA programs.
The USDA home loan, a government-backed mortgage by the Department of Agriculture, also called a USDA rural development loan, is for rural areas only. Unlike FHA loans that require at least a 3.5% down payment, USDA loans need no down payment.
On January 13, 1953, a small group of people from the Hobbs Municipal Schools joined together to establish a credit union to offer its members an opportunity to accumulate their savings and create a source of credit. Since 1953, the credit union has experienced changes such as growth, new products & services, and technological improvements.
Chartered on November 2, 1928, during the great oil boom days the original Lea County State Bank of Lovington played an important part in the early development of this area. Dedicated to the people of Lea County, the bank adopted their pioneer spirit, which would eventually make this part of New Mexico great.
Western Bank of Artesia, New Mexico was chartered and opened for business as Peoples State bank on August 2, 1948 on the Calvin Dunn property located at 4th and Quay in Artesia, New Mexico, the same location that the bank occupied from 1948 to 2000. The bank was first housed in temporary quarters in a small sheet iron building.
Artesia Credit Union is a member-owned, cooperative, non profit financial services institution founded and operated to encourage thrift among its members, create a source of credit at a fair and reasonable rate of interest, and provide an opportunity for its members to improve their economic condition in a friendly manner.
First American Bank serves New Mexico with sixteen full service locations in fourteen communities and mortgage offices in Ruidoso, NM, and Rio Rico, AZ. Over the past century, First American Bank has remained true to its mission by providing a full spectrum of financial services; building lasting customer relationships
