Sep 30, 2022 2022-19

Notice of Upcoming Revised HomeNow Income and Purchase Price Limits

HUD released updated income and purchase price limits which will apply to the HomeNow program.

The updated HomeNow income and purchase price limits will be in effect for reservations/locks dated Friday, October 7, 2022, and later.   

Updated limits will impact individual counties in different ways. While most county limits will increase, some may decrease. Participating lenders are encouraged to reserve funds for borrowers who currently meet both the purchase price and income eligibility requirements before the close of business on Thursday, October 6, 2022. MFA cannot grant any exceptions regarding the income or purchase price limits.

Reminder: The HOMENow program requires the use of the lesser of the FIRSTHome or HOMENow purchase price and income limits.

To view MFA’s current income and purchase price limits, click here

New income limits will be posted Friday, October 7, 2022, no later than 8 a.m. MDT.

Should you have questions, please contact an MFA Homeownership representative at 505.843.6880.

Thank you for participating in MFA programs.