N.M. Stat. § 56-8-30
No prepayment penalty on home loans.
No provision in a home loan or a loan for a mobile home, the evidence of
indebtedness of a home loan, a real estate contract or an obligation secured by a real
estate mortgage or other purchase contract requiring a penalty or premium for
prepayment of an installment payment or prepayment of the balance of the
indebtedness is enforceable.