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Mortgage Programs

MFA's mortgage programs provide homebuyers with down payment and closing cost assistance as well as competitive interest-rate mortgage loans. An MFA participating lender will help you determine which program is best for you. You can find a list of participating lenders by clicking the link on the menu bar to the left. 


A mortgage loan for individuals or families who are buying a home for the very first time.
FIRSTHome Description
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A second mortgage loan  with a low interest rate that helps first-time homebuyers with down payment and closing costs.
FIRSTDown Description
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A mortgage loan for non-first-time homebuyers who are purchasing their next home. NEXTHome is also available for first time homebuyers, if a lender determines that it best suits their needs. 
NEXTHome Description
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A second mortgage loan that provides down payment and closing cost assistance for first-time homebuyers with lower incomes.  
HOMENow Description
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**The HFA Preferred conventional program information currently published on MFA’s website strictly applies to loans reserved on or before August 16, 2019. The HFA Preferred conventional program will be temporarily unavailable effective August 19, 2019 while we make the revisions required by Fannie Mae. We will publish updated HFA Preferred parameters, policies, and procedures as soon as they are available. We apologize for any inconvenience this may cause.  All MFA programs continue to be available for use in conjunction with government loans (FHA, VA, USDA).

For more information about any of MFA's homebuyer programs, please contact a homeownership representative at 505.843.6881 or send an email to 

Fact Sheets

MFA Non-Fillable Fact Sheets

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MFA Fillable Fact Sheets

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Current Rates

Current interest rates

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Sign up to receive text notifications when mortgage rates change

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Mortgage Calculator

Use a mortgage calculator to find out what price home you can afford using a FHA or Conventional loan and how much your payments will be. 

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