MFA Loan Programs

FirstHome and FirstDown

FirstHome is MFA's primary first-time homebuyer program, which can be used to finance any single-family property. FirstDown is a down payment assistance second mortgage loan for first-time homebuyers.

FirstDown must be combined with the FirstHome program. However, FirstHome may also be used with the HomeNow second mortgage program. (See below for information on HomeNow.)

Checklists and Sample FormsManuals and Policies | FirstHome & FirstDown English Factsheet
FirstHome & FirstDown Spanish Factsheet

FirstDown Plus

A third mortgage down payment assistance loan designed to provide additional down payment to first-time homebuyers qualified to use MFA’s FirstHome program. Previous homeowners who have not owned and occupied a home as their primary residence in the past three years may also be eligible for the program. Must always be used in conjunction with MFA’s FirstHome (first mortgage) and FirstDown (second mortgage) programs. 

FirstDown Plus English Factsheet | FirstDown Plus FAQs


HomeNow is a second mortgage loan available to first-time homebuyers with income at or below 80 percent AMI. The program provides $7,000, which can be used to finance the minimum down payment and closing costs. The HomeNow second mortgage loan has a 0-percent interest rate and is non-amortizing. The loan may be forgiven after 10 years if the borrower satisfies certain requirements.

Checklists and Sample Forms | Manuals and Policies | HomeNow English Factsheet | HomeNow Spanish Factsheet

HFA Preferred™ Conventional Loan Program

Requires a down payment of just three percent and allows LTV/CLTV ratios of up to 97/105. Lower-income borrowers get the best pricing and have a lower mortgage insurance coverage requirement. See term sheet for program details.

Checklists | Manuals and Policies | Mortgage Insurance Companies

HomeForward & HomeForward DPA

HomeForward is a combination first mortgage purchase loan and a Down Payment (“DPA”) second mortgage which features simplified qualification/eligibility guidelines as well as reduced documentation requirements. There is no First-time homebuyer requirement for the HomeForward program.

HomeForward Factsheet | HomeForward DPA Factsheet