Your real New Mexico affordability, the MFA FIRSTDown Down Payment Assistance match, and a step-by-step plan — in 30 seconds. No email required.
Calculate your New Mexico number — free →The MFA FIRSTDown Down Payment Assistance is New Mexico's flagship statewide down payment assistance, administered by the state housing finance agency (second loan). Current amounts, income limits and credit requirements are set by the agency — confirm them on the official program page. Cities and counties in New Mexico often add their own programs on top.
Official New Mexico program page →New Mexico's main statewide option is the MFA FIRSTDown Down Payment Assistance — second loan administered by the state housing finance agency. Many cities and counties in New Mexico add their own programs on top, so it is worth checking all three levels.
It depends on your income, debts and credit. The calculator applies the FHA 31%/43% debt-to-income rule to estimate your price, then shows how much of your down-payment gap New Mexico assistance could cover. Most buyers pair it with a 3% conventional or 3.5% FHA down payment.
Many state programs set a 620 minimum credit score alongside income limits based on area median income. Exact requirements are set by the agency — verify current terms on the official MFA FIRSTDown Down Payment Assistance page before applying.