Down Payment Assistance Programs in New Mexico

Down Payment Assistance products offered in New Mexico include: CHENOA Fund Program, New Mexico Mortgage Finance Authority (MFA) Program and the “Within Reach” Program. To see which program may be right for you, get started on your application today!

CHENOA Fund Program

Availability: Nationwide

Description

The CHENOA Fund Program is available in New Mexico.

Features

  • Down payment assistance up to 3.5% of the purchase price or appraised value
  • 30-year fixed term with full amortization
  • FHA loan types only
  • Homebuyer education course NOT required
  • Credit and income restrictions may apply

Down Payment Assistance in New Mexico

Availability: New Mexico

Description

Mortgage Finance Authority (MFA) Down Payment Assistance Program includes the First Home and First Down Program, Next Home Program, HFA Preferred and is available in New Mexico.

Features

  • Down payment assistance up to 3% of the total loan amount
  • 30-year fixed term with full amortization
  • Conventional, FHA, VA, and USDA loan types available
  • Homebuyer education course is required
  • Credit and income restrictions may apply

Within Reach Program

Availability: New Mexico

Description

The Within Reach Program is available in all of New Mexico.

Features

  • Down payment assistance up to 4% of the note amount
  • 30-year fixed term with full amortization
  • FHA loan types only
  • Homebuyer education course is required
  • Credit and income restrictions may apply

Some program restrictions and requirements apply. The type of DPA and lien position will vary for each loan program. Please contact your On Q Financial, Inc. Mortgage Consultant for more information.
OnQ0329180681Y000003h3F3