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Get Matched Free →Housing NM HomeNow Program
Funding status: Active
How much assistance
Up to $7,000 (temporarily $14,000 through April 1, 2026 or until funding exhausted)
0% interest, non-amortizing second mortgage. Forgiven after 10 years if borrower continues to occupy the home as primary residence and does not sell, refinance, transfer title, or rent.
Eligibility
- Income limits: Borrower must be at or below 80% Area Median Income (AMI). Limits vary by county and household size.
- 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 HomeNow Program
Apply alongside FirstHome through a Housing NM participating lender. Complete homebuyer education and submit lender package. Funding is limited and first-come, first-served.
Notes
Loan amount and terms revert on April 1, 2026 or when current funding exhausted. Verify current amount with Housing NM at time of application.