$1,000-$8,000 for down payment and closing costs. Second mortgage at MFA rate. Pairs with FirstHome or NextHome.
MFA's DPA provides up to $8,000 toward down payment and closing costs. In New Mexico's affordable housing market, where median prices are around $280,000, $8,000 covers the full 3.5% FHA down payment with funds remaining for closing costs.
The program is available through MFA's network of approved lenders statewide. New Mexico's growing tech sector in Albuquerque and government employment in Los Alamos and Sandia Labs are bringing new residents who can benefit from DPA as they establish roots in the state.
This program can be used on 1-4 unit properties. Live in one unit, rent the others.
We'll show you how to combine MFA DPA (New Mexico) with other programs to maximize your free money — personalized to your ZIP code and income.