The popular first time home buyer program MFA (Mortgage Finance Authority) in Albuquerque and Rio rancho is decreasing the interest rate on the Mortgage Saver Program. This is a great option for anyone that has not owned a home in the last 3 years.
See below.
| Current Interest Rate | New Interest Rate | |
| Mortgage Saver - Gov't | 3.250% | No Change |
| Mortgage Saver - Conv | 3.500% | No Change |
| Mortgage Saver Zero - Gov't | 3.750% | 3.500% |
| Mortgage Saver Zero - Conv | 4.000% | 3.750% |
| Mortgage Saver Plus - Gov't | 4.250% | 4.000% |
| Mortgage Saver Plus - Conv | 4.500% | 4.250% |
Question: My sister is a home owner but her husband (recently married) has never purchased a home, would he qualify for the First Time Home Buyer Program MFA?
Posted by Lynn on Tuesday, June 11th, 2013 at 11:28amThe husband would be ineligible since NMMFA requires a spouse to be an
Posted by NMWelcomeHome Team Associates on Wednesday, June 12th, 2013 at 7:21pmapplicant, therefore by definition NOT a 1st time home buyer. I have
confirmed this personally through the NMMFA today.
Dan Gutierrez - Gateway Mortgage
NMMFA is the FIrst Time Home Buyer Program and is the most popular.
Posted by NMWelcomeHome Team Associates on Wednesday, June 12th, 2013 at 7:22pmCarlos Martinez - Team Leader
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