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Tuesday, March 31, 2009

State Offers Assistance To First-Time Homebuyers

Associated Press

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 payment and individuals can use their federal tax credit to pay off the loan.

Posted by NMWelcomeHome Team Associates (505) 886-1432 on
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Need some help , first time home buyer with little or no down payment. Can you help us?

Posted by Dominic Chavez on Monday, July 28th, 2014 at 7:12pm

Yes Dominic. There are various loan programs that can help you. Please call us at (505) 923-4691 for more information on those programs.

Posted by NMWelcomeHome Team Associates on Wednesday, July 30th, 2014 at 10:46am

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