First Time Homebuyers have the opportunity of a life time!
Tuesday, March 31, 2009
State Offers Assistance To First-Time Homebuyers
SANTA FE — First-time homebuyers can find new financial assistance from the state and federal government. Gov. Bill Richardson and the New Mexico Mortgage Finance Authority today announced a loan program that will help lower- and middle-income New Mexicans make a down payment in buying their first house.
The program takes advantage of a tax credit that was created as part of the federal economic stimulus package. First-time homebuyers can get a federal tax credit of 10 percent of the purchase price of a home, up to $8,000.
The finance authority will provide a no-interest loan up to $6,500 for a down…