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.
NEXTHome is a combination first mortgage loan and down payment assistance second mortgage loan that is available to qualifying first-time homebuyers as well as non first-time homebuyers. It has a single statewide qualifying income limit and purchase price limit.
For more information about any of MFA's homebuyer programs, please contact a homeownership representative at 505.843.6881 or contact us here.
HOMENow is a second mortgage loan available to first-time homebuyers with income at or below 80 percent AMI. The program provides the lesser of 8 percent of the sales price or $8,000, which can be used to finance the minimum down payment and closing costs. The HOMENow second mortgage loan has a 0-percent interest rate and is non-amortizing. The loan may be forgiven after 10 years if the borrower satisfies certain requirements.