Looking for just the state housing loan program home loan programs in Albuquerque, NM that fit your unique situation? Start your free personalized mortgage review by clicking here.
Special Programs for State Housing Loan Program
These additional loan programs available in Albuquerque, NM may provide help for down payment and closing costs, qualification for borrowers who don't fit the traditional mold, and unique portfolio programs for special situations.
MFA FirstHome FHA Loan
Best For: First Time Homebuyers, Low Down Payments, Lowest Rates
FHA program for New Mexico first time homebuyers with competitive interest rates and down payment assistance options.
Min. Credit Score
620
Min. Down Payment
3.5%
Max. Loan Amount
$472,030
MFA FirstHome Conventional Loan - Median Income
Best For: First Time Homebuyers, Low Down Payments
Conventional option for New Mexico homebuyers with incomes above 80% AMI that can be paired with down payment and closing cost assistance funds.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$726,200
MFA FirstHome Conventional Loan - Low Income
Best For: First Time Homebuyers, Low Down Payments
Conventional loan for low income New Mexico homebuyers with below market interest rates, low mortgage insurance, and down payment assistance options.
Min. Credit Score
620
Min. Down Payment
3%
Max. Loan Amount
$726,200
MFA FirstDown Program
Best For: First Time Homebuyers, Zero Down
New Mexico MFA FirstDown Program provides up to 4% in down payment assistance as a standard second mortgage with repayment.
Min. Credit Score
620
Min. Down Payment
0%
Max. Loan Amount
$726,200
Up to 4.00% of 1st Loan Amount Program Benefit Amount
MFA HomeNow Program New Construction
Best For: First Time Homebuyers, Low Down Payments, Zero Down, New Construction
The New Mexico MFA HomeNow Program for new construction provides $7,000 in assistance as a forgivable second mortgage with no monthly payments.
Min. Credit Score
620
Min. Down Payment
0%
Max. Loan Amount
$472,030
Up to $7,000 in Assistance Program Benefit Amount
* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers.
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