This program is only for borrowers who will occupy the home as their primary residence. It is not available to borrowers seeking to purchase an investment property, rental property or a second home. The NewHome Rate Advantage program is available to qualified homebuyers purchasing through Housing New Mexico’s HomeForward program. The home must meet HomeForward’s income and purchase price limits, which are available on the Housing New Mexico website and accessible by scanning the QR code. https://housingnm.org/individuals-and-families/homebuyers/ income-and-purchase-price-limits#homeforward Interested buyers should consult with Housing New Mexico participating lenders — scan the QR code to view the list. https://housingnm.org/individuals-and-families/homebuyers/ mfa-participating-lenders Housing New Mexico began accepting loan reservation requests for this program from participating lenders on behalf of their clients in late July. NewHome Rate Advantage is a pilot program with limited funding and is expected to help 350 to 400 households purchase newly constructed homes. To learn more about the NewHome Rate Advantage and all homebuyer programs, visit housingnm.org. Housing New Mexico has launched a pilot program offering a permanent 1% interest rate buydown on a fixed-rate, 30-year first mortgage for qualified homebuyers purchasing newly constructed homes through Housing New Mexico’s HomeForward program. (Photo courtesy of Abrazo Homes) 15
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