Apr 28, 2023 2023-06
Down Payment Advantage Funds Depleted
As of the opening of business on April 26, 2023, all funds have been fully committed.
MFA has created a waiting list in case funds become available through lock cancellations. Qualified borrowers with a FirstHome reservation/lock commitment may be added to the list by emailing your request to: singlefamily@housingnm.org
MFA does not imply or guarantee that funds will become available for individuals on the waiting list. Should funds become available for your borrower, MFA will reach out directly to you. Please refrain from contacting MFA staff to inquire about your borrower’s position on the waiting list.
MFA does not anticipate having funding sources that will provide additional funding for a down payment grant program. However, MFA is evaluating funding sources that will be able to provide additional down payment assistance for low-income, first-time homebuyers in the form of a subordinate mortgage loan with terms; yet to be determined.
To date we are pleased to announce that Down Payment Advantage has assisted over three hundred first-time homebuyers purchase their first home.
Should you have questions please contact a member of the homeownership department at 505.843.6880.
