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Revised Program Household Income Limits

Memorandum

TO:Participating Lenders

FROM:Erik Nore, Director of Homeownership

DATE:June 19, 2015

RE:Memo No. 15-19

Revised Program Household Income Limits

  • Mortgage$aver/Mortgage Booster Programs
  • HERO Program

Effective for loan reservations on June 22, 2015, MFA is revising the Household Income Limits for the Mortgage$aver, Mortgage$aver Zero, Mortgage$aver Plus and HERO programs as well as the Mortgage Booster down payment assistance program. The revised Household Income Limits include both Targeted and non-Targeted areas throughout the state.

Mortgage$aver and Mortgage Booster Programs

Non Targeted Areas 1-to-2-Person Household 3-or-More-Person Household
Albuquerque MSA (Bernalillo, Sandoval, Torrance and Valencia Counties) $62,202 $71,532
Santa Fe MSA and Los Alamos County $74,880 $87,360
Farmington MSA $63,062 $72,521
All other areas $58,080 $67,760

 

Mortgage$aver and Mortgage Booster Programs

Targeted Areas    1-to-2-Person Household 3-or-More-Person Household
Bernalillo and Sandoval County census tracts        $71,280 $83,160
San Juan County census tract   $66,120  $77,140
All other census tracts    $64,920 $75,740

 

HERO Program

Area    Proposed
Albuquerque MSA (Bernalillo, Sandoval, Torrance and Valencia Counties) $71,280
Santa Fe MSA and Los Alamos County $74,880
All other areas $64,920

 

Please feel free to contact MFA’s Homeownership Department with any questions or for further clarification.   

Thank you for participating in MFA’s single family program.