New Mexico Mortgage Secured by Promissory Note
County Specific Legal Forms Validated as recently as May 13, 2026 by our Forms Development Team
About the New Mexico Mortgage Secured by Promissory Note
How to Use This Form
- Select your county from the list on the left
- Download the county-specific form
- Fill in the required information
- Have the document notarized if required
- Record with your county recorder's office
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Use this form for financing residential property, small commercial, rental property (up to 4 units), condominiums and planned unit developments. This is a comprehensive 12-page form that has stringent default terms.
Use this form for financing residential property, small commercial, rental property (up to 4 units), condominiums and planned unit developments. This is a comprehensive 12-page form that has stringent default terms.
Promissory Note includes late charges. Any payment which is at least ____ days past due, shall be subject to a late charge of $___ And an additional $ ____per day until the payment is received. If any balloon payment is late, it shall be subject to a late fee of $____ per day.
Default Rate: I payment is/are at least 30 days past due, then the principal balance shall bear interest at default rate of (____%) over the interest rate stated. Said default rate shall begin on the ____ day following the due date of the payment(s) until payment(s) is/are brought
current. Payment(s) is/are first applied to accrued interest and penalties, then to principal.
In addition to any other remedies available to Lender if this Note is not paid in full at the Maturity Date, Borrowers shall pay to Lender an Overdue Loan Fee, which fee shall be due at the time this Note is otherwise paid in full. The "Overdue Loan Fee" shall be determined based upon the outstanding principal balance of this Note as of the Maturity Date and shall be:
(a) one percent (1.0%) Of such principal balance if the Note is paid in full on or after thirty (30) days after the Maturity Date but less than sixty (60) days after the Maturity Date, or
(b) two percent (2.0%) of such principal balance if the Note is paid in full on or after sixty (60) days after the Maturity Date.
This Note and the Loan Documents shall be governed by the State of New Mexico.
(New Mexico Mortgage Package includes forms, guidelines, and completed examples)
How to Use This Form
- Select your county from the list above
- Download the county-specific form
- Fill in the required information
- Have the document notarized if required
- Record with your county recorder's office
What Others Like You Are Saying
"Totally awesome. Useless waste of time looking anywhere else for real estate deed forms. All the sta…"
"Hope to get form printed out Ok."
"The forms are nice; however, they do not display the "th" after the day or the second digi…"
"Great and quick service!"
"Fantastic forms, thanks for making them available."
Common Uses for Mortgage Secured by Promissory Note
- Document the reconveyance of a property after loan payoff
- Record a partial reconveyance to release a portion of collateral
- Replace a trustee who is unable or unwilling to serve
- Subordinate an existing mortgage to a new loan
- Substitute a new trustee on a deed of trust
Compare other New Mexico deed forms and documents
Important: County-Specific Forms
Our mortgage secured by promissory note forms are specifically formatted for each county in New Mexico.
After selecting your county, you'll receive forms that meet all local recording requirements, ensuring your documents will be accepted without delays or rejection fees.