Jul 1, 2025 2025-10

Advanced Notice of Upcoming Revised Program Limits

Dear Participating Lenders:

IRS and HUD recently released new income and purchase price limits. The revised limits will apply to FirstHome/FirstDown/FirstDown Plus/HomeNow and HomeForward. The Housing New Mexico | MFA is required to implement the new program limits at the opening of business on Tuesday, July 1, 2025, and is unable to provide lenders with more advance notice. We apologize for any inconvenience this may cause.

Revised limits will impact individual counties in different ways; while some county limits will stay the same, others will increase or decrease. Participating lenders are encouraged to reserve funds for borrowers who currently meet both the purchase price and income eligibility requirements before 4:45 p.m. on Monday, June 30, 2025. Please note rate locks submitted after 4:45 p.m. on Monday will be subject to the updated income and purchase price limits in addition to the loan rates. Housing New Mexico | MFA cannot grant any exceptions regarding income or purchase price limits.

• The updated income and purchase price limits for FirstHome/FirstDown/FirstDown Plus, HomeNow and HomeForward will be in effect for reservations/locks dated Tuesday, July 1, 2025, and later.

To view Housing new Mexico’s current income and purchase price limits, click here.

New income and purchase price limits will be posted on July 1, 2025.

Should you have questions, please contact a member of the Housing New Mexico | MFA Homeownership Department at 505-843-6880 or by e-mail: singlefamily@housingnm.org.

Thank you for participating in Housing New Mexico| MFA programs.