| New Mexico First time Homebuyers
The state of New Mexico offers a First time Homebuyer program through the Mortgage Finance Authority. You can check out their website at www.nmmfa.org.
These loans can be 100% financing based on what type of a program the buyer can quality for.
There are guidelines and criteria the buyer must meet:
1) Cannot have had an ownership in a home in the last three consecutive years. Mobile homes do not apply as ownership unless it was attached to a permanent foundation and taxed as "real property".
2) Buyer must have rented or lived with family or friends for the last three consecutive years.
See My page "First Time Homebuyer Las Cruces" for more information on these programs.
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