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Get Matched Free →Housing NM FirstDown Program
Funding status: Active
How much assistance
Up to $8,000 (capped at 8% of purchase price)
0% interest, non-amortizing silent second mortgage. Forgiven after 10 years of owner-occupancy, no refinance, no transfer of title.
Eligibility
- Income limits: Income limits vary by county and household size (same as FirstHome). Buyer must contribute $500 of own funds.
- First-time buyer required: Yes — A first-time homebuyer is anyone who has not owned and occupied a primary residence in the past three years.
- Credit score minimum: 620
- Geographic restrictions: Must purchase property in New Mexico. Must be paired with FirstHome first mortgage.
- Homebuyer education required: Yes
How to Apply for Housing NM FirstDown Program
Apply alongside the FirstHome first mortgage through a Housing NM participating lender. Buyer must contribute at least $500 of own funds and complete homebuyer education.
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