New Mexico's #1 Reverse Mortgage*

Reverse Mortgages in New Mexico: A Comprehensive Guide

If you’re a New Mexico homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in New Mexico, including key facts, the latest statistics, top lenders, and essential protections.

How this data was derived: Reverse mortgage counts reflect FHA-insured HECM loans endorsed over a rolling 12-month period (Dec 2024–Nov 2025) using HUD HECM Snapshot data. Active lenders represent unique FHA sponsor numbers with at least one endorsed loan during this period. Estimated homeowners age 62+ are based on U.S. Census ACS 5-year owner-occupied households age 65+ as a conservative proxy. Home values are sourced from Zillow’s Home Value Index (latest available).

Top Reverse Mortgage Lenders in New Mexico

New Mexico Reverse Mortgage Lending Overview (2026)

New Mexico is the 36th most populous state in the U.S. and the 5th largest by land area, with an estimated 2026 population of approximately 2.13 million residents. According to current 2026 data, New Mexico is home to about 420,000 homeowners age 62 and older, representing a sizable portion of long-tenured homeowners with meaningful home equity.

Despite this large eligible population, only approximately 250 reverse mortgages were closed statewide in the last 12 months, served by around 22 active reverse mortgage lenders. With an average home value of roughly $357,200, many New Mexico homeowners fall well within FHA HECM lending limits, allowing them to access their home equity without the need for jumbo programs in most cases.

This combination of a growing 62+ homeowner population, relatively modest home values, and limited lender competition makes reverse mortgages a practical and often underutilized retirement planning tool for New Mexico homeowners looking to improve cash flow or eliminate monthly mortgage payments.

New Mexico has one of the richest cultural histories in the United States, with human habitation dating back more than 10,000 years. Pueblo communities were firmly established before Spanish explorers arrived in the late 1500s. Control of the region shifted from Spain to Mexico and later to the United States following the Mexican-American War. New Mexico became the 47th state in 1912.

Key Cities and Economic Overview

Albuquerque, the state’s largest city, has an estimated 2026 population of approximately 565,000. Situated along the Rio Grande, Albuquerque is known for the International Balloon Fiesta, Route 66 history, and its role in early scientific and technology development. The city later gained global recognition as the filming location for Breaking Bad.

Other major cities include Las Cruces, Rio Rancho, and Santa Fe, the state capital. Santa Fe, founded in 1608, is the oldest state capital in the U.S. and a nationally recognized center for arts and culture. Los Alamos remains historically significant as the birthplace of the atomic bomb, while Roswell is internationally known for its UFO lore.

New Mexico’s economy is driven by energy production, federal research facilities, defense, tourism, healthcare, and higher education. Major employers include Los Alamos National Laboratory, Sandia National Laboratories, the University of New Mexico, and New Mexico State University.

Did you know? New Mexico does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.

Additional Resources:
Reversemortgage.org NRMLA Members in New Mexico
HUD.GOV Approved Lenders Search