What the numbers say
Investors in New Mexico borrowed at a median rate of 7.5%, versus 6.625% for owner-occupants — a 88 bps premium that ranks 32nd of 51 states.
Their applications were denied 21.9% of the time. The leading reasons for denial were debt-to-income ratio, collateral, credit history.
65% of investor loans were business- or commercial-purpose — the category that includes DSCR and LLC-held loans — and 25% were cash-out refinances. The typical loan-to-value was 74%, implying about 26% down.