USDA and FHA Pro and Con in North-Hobbs, Lea County, NM

In 2025, 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 .

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Loan limits and requirements for 2025 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.

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Understanding USDA Loans in NM

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.

Enter your location to find out if it qualifies for USDA rural housing loan?



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