Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
Closing costs in New Mexico
See how much you might have to shell out in closing costs when you buy or sell a home in this state.
According to data from ClosingCorp, the average closing cost in New Mexico is $2,824.85 after taxes, or approximately 0.94% to 1.41% of the final home sale price.
Closing cost stats in New Mexico
Across the state, the average home sells for between $200,000 and $300,000. If you buy a property in that range, expect to pay between $1,883.23 and $4,237.28 in closing costs after taxes.
Data | Value |
---|---|
Average home sale price | $200,000 to $300,000 |
Average total closing cost | $2,824.85 |
Expected closing cost range | $1,883.23 to $4,237.28 |
Percentage of closing cost to home sale price | 0.94% to 1.41% |
How much does tax affect the closing cost?
Buyers and sellers in New Mexico pay an average of $0 in tax combined for the closing. This accounts for 0% of the total average closing cost in New Mexico.
Value | |
---|---|
Average tax paid | $0 |
Percentage of total closing cost | 0% |
Compare mortgage lenders
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
How do closing costs in New Mexico compare nationally?
The closing costs for buying a home in New Mexico are below the national average after accounting for taxes. It’s 18 in our rankings which rates states from lowest to highest closing cost.
Average total closing cost in New Mexico | Ranking* | |
---|---|---|
Before taxes | $2,824.85 | 24 |
After taxes | $2,824.85 | 18 |
*Ranked from lowest to highest of the 50 states plus Washington DC
Bottom line
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in New Mexico.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
More guides on Finder
-
COLDCARD Mk4 review
Learn about the security features of the COLDCARD Mk4 — a Bitcoin-only hardware wallet.
-
Gas prices a concern for US households
Gas prices are on the rise, which has the vast majority of Americans worried about what the future holds.
-
How do ETFs work?
Your simple and straightforward guide to ETFs, how they work and the different types available.
-
How to short Bitcoin
Learn how you can use various short-selling strategies to further your Bitcoin profits.
-
Finder Money Newsletter: Jan. 04, 2023
Your place to check out the latest Finder Money Newsletter.
-
Coinbase Ventures Portfolio assets and market cap
Discover more about the 31 assets in Coinbase Ventures Portfolio and its $484bn market cap.
-
US personal saving rate in 2023
Data on the personal saving rate in the US.
-
Disposable income in the US
A breakdown of disposable income stats for the US including historical charts, averages and more.
-
How to buy stocks online
The best trading apps come with low fees and are easy to use.
Ask an Expert