ALBUQUERQUE AREA NEW MEXICO HOME LOANS
ALBUQUERQUE AREA NEW MEXICO HOME LOANS
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MONEY ON NEW MEXICO REAL ESTATE BY PRE-QUALIFYING ON LINE!.
MFA - NEW MEXICO
MORTGAGE FINANCE AUTHORITY
The MFA program is a first time home buyer program for low to moderate income families or individuals. The benefit is a lower interest rate for a thirty-year, fixed rate home loan. There are a few strings attached, but the program is certainly better than renting!
TO QUALIFY FOR THE PROGRAM, you cannot have owned real property in the last three years and you must fall within the income limits. The income limits change from time to time. We will determine if you qualify for an MFA loan when you send in your on line pre-qual information.
DOWN PAYMENT:
The MFA loans are first based on the typical types of loans such as conventional, FHA and VA. Each type of loan usually has different down payments requirements and the VA loan requires no down payment at all. However, under a new MFA program, you can get in a home under any of these programs for as little as 1% total down payment including closing costs!
The down payment and up front cash needed is less than many rental deposit requirements and your payments may actually be less than rent! (Especially after your mortgage loan tax deductions.).
SO! WHY RENT WHEN YOU CAN BUY WITH LITTLE OR NOTHING
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WEBMASTER: CHUCK DAWSON