See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 7, 2026
Homebuyer Programs in Santa Fe, NM (2026)
Santa Fe is the capital of New Mexico and one of the most expensive housing markets in the state, with a median single-family home price near $687,000. Santa Fe also offers the deepest stack of homebuyer assistance programs in New Mexico. Buyers can combine Santa Fe County's tiered Downpayment Assistance Program (up to $20,000 at 65% AMI or below), Homewise's $40,000 NM-3 grant, the Santa Fe Community Housing Trust's lending program (up to $50,000 in subsidy loans), the City of Santa Fe Affordable Housing Trust Fund (delivered through nonprofit partners and accepting up to 120% AMI), and Santa Fe Habitat for Humanity's 0% interest sweat-equity model — on top of Housing New Mexico's up-to-$35,000 stack (FirstDown, HomeNow, FirstDown Plus, and the $25,000 DownPaymentAdvantage grant). High prices make the gap-financing tools essential, and the local nonprofit network is built specifically to assemble that stack for each buyer.
City Programs in Santa Fe
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| City of Santa Fe Affordable Housing Trust Fund Homeownership Assistance | Deferred Loan | Down payment, gap financing, and mortgage assistance amounts vary by partner program; combined assistance can be substantial when stacked | No | View → |
- Type:
- Deferred Loan
- Amount:
- Down payment, gap financing, and mortgage assistance amounts vary by partner program; combined assistance can be substantial when stacked
- First-time only:
- No
County Programs in Santa Fe County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Santa Fe County Downpayment Assistance Program | Deferred Loan | Up to $20,000 (tiered by income): up to $20,000 at 65% AMI or below; up to $15,000 at 65-80% AMI; up to $10,000 at 80-100% AMI | Yes | View → |
- Type:
- Deferred Loan
- Amount:
- Up to $20,000 (tiered by income): up to $20,000 at 65% AMI or below; up to $15,000 at 65-80% AMI; up to $10,000 at 80-100% AMI
- First-time only:
- Yes
State Programs in New Mexico
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Housing NM DownPaymentAdvantage Grant | Grant | $25,000 | Yes | View → |
| Housing NM FirstDown Plus Program | Zero-Interest Loan | $10,000 | Yes | View → |
| Housing NM FirstDown Program | Forgivable Loan | Up to $8,000 (capped at 8% of purchase price) | Yes | View → |
| Housing NM FirstHome Program | Repayable Loan | First mortgage financing at competitive rates | Yes | View → |
| Housing NM HomeNow Program | Forgivable Loan | Up to $7,000 (temporarily $14,000 through April 1, 2026 or until funding exhausted) | Yes | View → |
| Housing NM NextHome Program | Repayable Loan | First mortgage with built-in down payment assistance second loan | No | View → |
| Housing NM Targeted Areas Program | Repayable Loan | Lower mortgage rates, higher purchase price limits, plus down payment assistance | No | View → |
- Type:
- Grant
- Amount:
- $25,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- $10,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $8,000 (capped at 8% of purchase price)
- First-time only:
- Yes
- Type:
- Repayable Loan
- Amount:
- First mortgage financing at competitive rates
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $7,000 (temporarily $14,000 through April 1, 2026 or until funding exhausted)
- First-time only:
- Yes
- Type:
- Repayable Loan
- Amount:
- First mortgage with built-in down payment assistance second loan
- First-time only:
- No
- Type:
- Repayable Loan
- Amount:
- Lower mortgage rates, higher purchase price limits, plus down payment assistance
- First-time only:
- No
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Homewise Santa Fe Down Payment Assistance (NM-3) | Grant | Up to $40,000 | Yes | View → |
| Santa Fe Community Housing Trust Homebuyer Lending Program | Deferred Loan | Subsidy loans up to $50,000 sourced from CDBG, City Affordable Housing Trust Fund, CDFI funds, HOPWA, and the Trust's own funds | No | View → |
| Santa Fe Habitat for Humanity Homeownership Program | Zero-Interest Loan | Affordable home with 0% interest mortgage; sold to qualified families at no profit | No | View → |
- Type:
- Grant
- Amount:
- Up to $40,000
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Subsidy loans up to $50,000 sourced from CDBG, City Affordable Housing Trust Fund, CDFI funds, HOPWA, and the Trust's own funds
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home with 0% interest mortgage; sold to qualified families at no profit
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. Santa Fe-area programs use a layered AMI structure: Santa Fe County DPA tiers benefits between 65% AMI and 100% AMI, the City Trust Fund extends to 120% AMI, and most Housing NM products require 80% AMI or below for the largest assistance. The Homewise $40,000 grant is restricted to NM's 3rd Congressional District.
Step 2: Complete homebuyer education. Free, HUD-approved counseling and award-winning monthly homebuyer classes are available through Homewise, the Santa Fe Community Housing Trust ((505) 989-3960), and Santa Fe Habitat for Humanity ((505) 986-5880). Counseling is required by every state, county, city, and nonprofit program.
Step 3: Choose your nonprofit navigator. Because Santa Fe stacks so many funding sources, most buyers work with Homewise, the Housing Trust, or Habitat from the start. These three are funded by the City to help residents combine federal, state, county, city, and Trust funds.
Step 4: Connect with a Housing NM participating lender. Your lender can determine which combination of FirstHome, FirstDown, HomeNow, FirstDown Plus, and DownPaymentAdvantage you qualify for, and help layer Santa Fe County DPA, City Trust Fund support, and Homewise NM-3 grants on top.
Step 5: Find a home that meets program guidelines. Work with a Santa Fe agent who knows the local affordable housing inventory. The Housing Trust and Habitat both develop their own permanently affordable homes, which can be the most accessible entry points given the high market median.
Step 6: Submit your applications in parallel. The county DPA, the City Trust Fund (via nonprofit partner), Homewise NM-3, and the Housing NM stack are separate applications. Your nonprofit navigator coordinates submission to maximize total assistance and avoid funding gaps at closing.
Step 7: Close on your home. Bring your $500 minimum buyer contribution (Housing NM requirement). Forgiveness and repayment terms vary by program — confirm each layer's timing with your closing attorney and nonprofit counselor.