Key Takeaways

  • Borrower does not have to be a first-time homebuyer.
  • 3% grant from program does not have to be repaid.
  • Minimum $500 required from homebuyer's fund.
  • Need to sell? Little equity? This will help fill that gap.

Tell me more about NEXT Home

Now you can buy your NEXT Home with the same benefits as a first-time home buyer!

NEXT Home is available in New Mexico through the Mortgage Finance Authority (MFA) for NON first time home buyers. It is a combination down payment assistance grant, that does not have to be repaid and a first mortgage loan. We work and sell homes in the Albuquerque and Rio Rancho area.

The NEXT Home grant is 3% of the first mortgage loan amount. The grant may be used for closing costs, pre-paids and down payment.


We can answer your mortgage questions!



What's the catch?

To use the program you must move in to your new home within 60 days of closing and make it your primary home. You must also have a 620 credit score, meet some income restrictions (make less than $90,000 household income) and put in at least $500 of your own funds.

Why is this a great opportunity?

Maybe you have outgrown your home with a larger family or moved in parents and possibly have little equity in your current home. With this program you won't need 'as much' money from the sale of your home to purchase another. With the 3% grant it will allow you to possibly breakeven on the sale of your home and move into the next.

Typically if you have owned a home in the last 3 years you are not considered a first-time homebuyer and don't qualify for this type of program. With NEXT Home you don't have to be a first-time homebuyer and can take advantage of the 3% grant to make your home purchase.

You will need the expertise to help navigate this process. Call us today at (505) 923-4691 to be directed to one of our Buyer Specialist. They will be the best to answer all your questions.

Posted by NMWelcomeHome Team Associates (505) 886-1432 on


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