Both financial programs render aggressive interest rates and you will come into the type of a fixed-speed mortgage
New Mexico Mortgage Financing Expert (MFA) enjoys several mortgage software to simply help The latest Mexico first-go out home buyers having lower otherwise average revenues.
You’ll need to be in another of these condition-manage financing programs should you want to gain benefit from the MFA’s down payment advice programs.
MFA FirstHOME Financing System
This very first-time visitors system provides an enthusiastic FHA, Virtual assistant, USDA, otherwise an enthusiastic HFA Preferred antique financing. It can be used along side Brand new Mexico’s down-payment assistance program.
Individuals need a credit rating of at least 620 and you can set out at the very least $five-hundred.