The New Mexico Mortgage Finance Authority (MFA) is a selfsupporting quasi-governmental entity that provides financing and housing programs for low- to middle-income New Mexicans. Using funding from housing bonds, tax credits and other federal and state agencies, MFA provides resources to build affordable rental communities, rehabilitate aging homes, supply down payment assistance and affordable mortgages, offer emergency shelter, and administer rental assistance and subsidies. MFA offers over 40 housing programs, including down payment assistance, weatherization and rehabilitation programs. In the pursuit of homeownership, Tai Wilson and her family achieved their dream last year with the help of MFA and one of its participating lenders, Nikki SandovalBelt of Cornerstone Home Lending in Farmington. MFA’s first-time homebuyer programs played a pivotal role in enabling Wilson and her family, as well as many others, to own their own home. “You have no idea how thankful I am for the MFA program,” said Wilson. “I’m super thankful, and I cannot believe I’m here in my own home with my kids. I’m super excited to work for something that’s going to be mine in the long run and hopefully my kids’ when they grow up.” In fiscal year 2023, MFA provided $388,294,000 in combined first mortgage and down payment assistance in the amount of 3,352 loans to 1,845 New Mexico families, which includes $12,301,805 for down payment assistance in the form of 1,807 loans and grants. Beginning in mid-January 2024, MFA introduced a third mortgage down payment assistance program designed to provide additional down payment funds to first-time homebuyers qualified to use MFA’s existing 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. NEW MEXICO MORTGAGE FINANCE AUTHORITY’S PROGRAMS ASSIST WITH HOMEOWNERSHIP, WEATHERIZATION AND REHABILITATION By Kristie Garcia, New Mexico Mortgage Finance Authority
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