Feb 28, 2020 2020-06

Status of program funding for HOMENow

As of February 28, 2020, there are some remaining HOMENow funds available for use in non-metro areas only.  These remaining funds are available on a first-come, first-served basis. We estimate we can serve approximately 10-15 more homebuyers.

MFA received notification from the U.S. Department of the Treasury that we were not selected as an award recipient this year. We will not receive any additional award from the Capital Magnet Fund for the HOMENow DPA program; however, we do plan to apply again next year.

Remaining funds may be used in non-metro areas, which are counties that are not part of a metropolitan statistical area (MSA). Borrowers purchasing homes in counties not on the following list may use HOMENow funds while they last.

HOMENow funds NOT available in the following:
Albuquerque MSA:  includes Bernalillo, Valencia, Sandoval & Torrance Counties;
Santa Fe MSA: includes Santa Fe County
Farmington MSA: includes San Juan County
Las Cruces MSA:  includes Doña Ana County

Although we are disappointed that we cannot continue this vital program at this time, we are pleased that our lenders were able to help so many low-income borrowers throughout our state. Thank you all for making HOMENow an overwhelming success!

All MFA borrowers using FIRSTHome will still have access to down payment and closing cost assistance through the FIRSTDown program.

Thank you for participating in MFA’s programs. Should you have any questions, please contact an MFA homeownership representative.