Yes: in New Mexico, mortgage loan officers need a state license issued by the Financial Institutions Division, NM Regulation and Licensing Department. You can check a name yourself on NMLS Consumer Access.
Mortgage loan officers in New Mexico: what buyers ask
What first-time buyer programs does New Mexico offer?
In New Mexico, Housing New Mexico (the New Mexico Mortgage Finance Authority) runs FirstDown, a second mortgage of up to 4% of the price for down payment and closing costs, HomeNow, which gives $7,000 to lower-income buyers, and FirstDown Plus, which adds $10,000.
What does an FHA loan require?
FHA loans need 3.5% down with a 580 credit score. Upfront mortgage insurance is 1.75% and the annual premium is 0.55% at 96.5% LTV.
Check a mortgage loan officer yourself
- License required · Financial Institutions Division, NM Regulation and Licensing Department
- Titles you will see: Mortgage loan originator
- Check a name yourself: NMLS Consumer Access (we could not open this search page ourselves)
The 10 sectors of Albuquerque
Northwest Mesa · Foothills · Southwest Mesa · Near Heights · North Albuquerque · Mid Heights · West Mesa · East Gateway · Near North Valley · Central ABQ