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DOWN PAYMENT PROGRAMS
First time home buyers can receive up to 3.5% for down payment

Down Payment One aspect of buying a home that can be challenging for a first time home buyer is the down payment.

Typically, a home buyer is required to put down a minimum of 3.5% of the purchase price.

For example, on a $200,000 home, the minimum down payment a home buyer would need to bring to closing is $7,000.

Fortunately for New Mexico residents, the State has a housing program that can provide the down payment behalf of home buyers who qualify.  MFA (New Mexico Mortgage Finance Authority) is a public entity that provides mortgage financing to low-income to moderate-income New Mexico residents.

MFA has partnered with mortgage lenders, local Realtors, non-profit organizations, local governments and developers throughout the State to make its programs available to local residents.

Buyers must not have owned and occupied a primary residence for the past three years.

Down Payment

For more information, qualification and income requirements, contact us today.

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Syan Real Estate is the exclusive brokerage for the following local online communities:
Ventana Ranch
Albuquerque
Rio Rancho
Belen
Rio Rancho Land
Los Ranchos de Albuquerque
Bernalillo
Placitas
Cabezon Homes
Jemez Springs
Mesa del Sol
Los Lunas
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Mariposa Rio Rancho
Loma Colorado
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Corrales
Pajarito
Santa Rosa
Espanola
 

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