3.14% FHA
$270,000
$927/mo
348 BIRD Avenue
El Paso, TX
4 bd3 ba— sqft
Santa Teresa, New Mexico
Keep the rate.
Buy the home in Santa Teresa.
6 assumable homes for sale in Santa Teresa, with locked rates from 2.73%. Take over the seller’s existing FHA, VA, or USDA loan instead of financing at today’s 7.2%.
Median assumable rate
5.43%
vs 7.2% market
$337/mo saved
Median locked rate
5.43%
Across 6 assumable listings
Typical monthly savings
$337
On a $339,450 home vs 7.2%
Certified listings
0
Loan terms confirmed with the listing agent
Loan types
FHA · VA
Government-backed loans are assumable by law
Verified in Santa Teresa
Homes with a rate worth keeping
3.14% VA
$495,000
$1,854/mo
1460 PIONEER RIDGE Drive
El Paso, TX
3 bd3 ba— sqft
3.45% VA
$465,000
$1,740/mo
6969 Granero Drive
El Paso, TX
5 bd4 ba— sqft
2.77% VA
$777,000
$2,333/mo
6328 Camino Nogal Drive
El Paso, TX
4 bd3 ba— sqft
2.77% VA
$595,000
$1,993/mo
6563 Laramie Ridge Lane
El Paso, TX
4 bd3 ba— sqft
2.80% FHA
$339,999
$976/mo
7775 ENCHANTED VIEW Drive
El Paso, TX
3 bd3 ba— sqft
Inventory snapshot
What’s assumable in Santa Teresa right now
Live counts from the MLS feeds we index for New Mexico. Updated September 2026.
- Active listings
- 6
- Certified / verified
- 0
- Lowest rate
- 2.73%
- Median rate
- 5.43%
- Median list price
- $339,450
- Median cash to assume
- $95,702
Listings by locked rate
- Under 4%2 homes
- 4% – 5%1 home
- 5% – 6%1 home
- 6% and up2 homes
Listings by loan type
- FHA3 homesmedian 4.98%
- VA3 homesmedian 5.89%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homes by Santa Teresa ZIP code
Nearby markets
More assumable homes in New Mexico
- Sunland Park4
- Anthony3
- Las Cruces1
- Alamogordo
- Alto
- Chamberino
- Chaparral
- Cloudcroft
- Doña Ana
- Elephant Butte
- Hatch
- Hobbs
- La Mesa
- Mesquite
- Ruidoso
- Timberon
- Truth or Consequences
Run your numbers
The cost of waiting in Santa Teresa.
A 7.2% new loan against an assumable one at 5.43%, same balance, 30 years.
You keep every month
$314/mo
Over a year$3,766
Monthly payment, side by side
7.2% vs 5.43%
How an assumption works
Three steps. One lower payment.
You’re not applying for a new mortgage. You’re stepping into one that already exists, at the rate it was written.
- 01
Find a locked rate
Every listing here carries an existing FHA, VA, or USDA loan you can take over. Filter by rate, payment, or down payment.
- 02
Qualify with the servicer
You apply with the current lender, not a new one. Our team handles the paperwork and the timeline.
- 03
Close and keep the rate
The seller’s balance, rate, and remaining term become yours. No points, no rate shopping, no reset to 30 years.
Questions
Assuming a mortgage in Santa Teresa
Numbers below come from current Santa Teresa inventory and update as listings change.
- How many assumable homes are for sale in Santa Teresa?
- As of September 2026, UMe tracks 6 active assumable listings in Santa Teresa. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
- What types of assumable loans are available in Santa Teresa?
- Current Santa Teresa inventory breaks down as FHA (3, median 4.98%) and VA (3, median 5.89%). FHA, VA, and USDA mortgages are assumable by law, which is why they make up nearly all assumable listings. Conventional loans usually carry a due-on-sale clause and cannot be assumed. You do not need to be a veteran to assume a VA loan, though the seller's entitlement stays tied up unless you substitute your own.
- What is the lowest assumable mortgage rate in Santa Teresa right now?
- The lowest rate on an active Santa Teresa assumable listing is 2.73%, and the median across all 6 listings is 5.43%. 2 listings are under 4% and 3 are under 5%, compared with roughly 7.2% for a new 30-year loan today.
- How much can I save with a mortgage assumption in Santa Teresa?
- Across current Santa Teresa listings, the median principal-and-interest payment on the assumable loan is $1,266 per month versus $1,603 for the same balance at today's rates, a difference of about $337 every month, or $4,042 a year. The savings compound because you also keep the seller's remaining term instead of restarting a 30-year clock.
- How much money do I need to assume a home in Santa Teresa?
- When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Santa Teresa that gap is currently a median of $95,702 on a median list price of $339,450. Buyers cover it with cash, a second mortgage, or seller financing; UMe can connect you with lenders who write gap loans behind an assumption.
- Which Santa Teresa ZIP codes have the most assumable homes?
- The Santa Teresa ZIP codes with the most active assumable listings are 88008 (6). Use the map to draw your own boundary or filter by rate, payment, and down payment inside any of them.
- How long does a mortgage assumption take in Santa Teresa?
- Most FHA and VA assumptions close in 45 to 90 days. The loan servicer, not a new lender, underwrites you, and servicer turnaround is the main variable. UMe tracks the file with the servicer and the listing agent so nothing stalls, and every listing shows whether the assumption has already been confirmed with the seller's side.
Ready when you are
Stop overpaying for Santa Teresa.
Every listing on the map has a rate you can take over. Start with the ones in New Mexico, or list your own low-rate loan and let buyers come to you.
