Mortgage Programs

MFA's mortgage programs provide homebuyers with down payment and closing cost assistance as well as competitive interest-rate mortgage loans. An MFA participating lender will help you determine which program is best for you. You can find a list of participating lenders here.

A minimum credit score of 620 is required. All homebuyers must receive pre-purchase homebuyer counseling. View MFA's income limits and purchase price page to see if your household income meets MFA program requirements.

FirstHome and FirstDown

A mortgage loan for individuals or families who have not owned a home in the past three years. It may be used with MFA’s down payment assistance program, FirstDown or as a stand-alone first mortgage.

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.

HomeNow

A down payment and closing cost second mortgage loan that is available to available to first-time homebuyers who have lower household incomes. The loan has a 0 percent interest rate and may be forgiven after 10 years if certain conditions are met.

HomeForward

A mortgage loan for individuals or families who have owned a home in the past three years or who do not qualify for MFA’s FirstHome loan program. It may be used with MFA’s down payment assistance program, (DPA name) or as a stand-alone first mortgage.

For more information about any of MFA's homebuyer programs, please contact a homeownership representative at 505.843.6881 or send an email through the "contact us" button.