The History of MFA

Family in 1991

In 1991, MFA created a program to help families overcome the biggest hurdles to homeownership: saving enough for a down payment and paying for closing costs. This family was one of the first of almost 28,000 families to benefit from MFA’s down payment assistance programs.

After providing low-interest rate mortgages to New Mexico families for almost two decades,  MFA expanded its homeownership programs in 1991 to include down payment and closing cost assistance. The program allowed many families who never thought they could own a home become homeowners.

Since 1991, MFA has provided down payment and closing cost assistance to more than 23,000 New Mexico homebuyers.