What the numbers say
Investors in New Mexico borrowed at a median rate of 7.25%, versus 6.49% for owner-occupants — a 76 bps premium that ranks 25th of 51 states.
Their applications were denied 21.2% of the time. The leading reasons for denial were collateral, debt-to-income ratio, credit application incomplete.
66% of investor loans were business- or commercial-purpose — the category that includes DSCR and LLC-held loans — and 28% were cash-out refinances. The typical loan-to-value was 74%, implying about 26% down.