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New Mexico Down Payment Assistance Programs
The Down Payment Assistance Programs offered by state, county and city are usually secured by a second mortgage. The second mortgage may be called a “Silent Second” which means that there are no payments required in the beginning and in some cases it will be forgiven if you live in the home for a certain number of years. All of the Down Payment Assistance Programs primarily use an
FHA mortgage to secure the first mortgage however some programs may accept different programs.
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C = Conventional
F = FHA V = VA
R = RD
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Eligible 1st MTG. LOAN TYPES
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State
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DAP Maximum Assistance Amount
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Phone #
|
|
PROGRAM NAME
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| Las Cruces Mountain View
Regional Medical Center (MVRMC) Home Ownership
Benefit for RNs (DAP) |
C F
|
NM |
$5,000 |
(505) 556-7663 |
| Rio Rancho Down Payment and
Closing Cost Assistance Program (DPA) |
C F V
|
NM |
$5,000 |
(505) 896-8350 |
| Santa Fe Community Housing Trust
(SFCHT) CDBG Soft Second Mortgage Program (SSM) |
C F V
|
NM |
$15,000 |
(505) 989-3960 |
| Santa Fe County Community
College District Affordable Housing Program (CCD) |
C F
|
NM |
$100,000 |
(505) 983-6214 |
| Santa Fe County Community
Housing Trust (SFCHT) Soft 2nd Mortgage Loan
Program (DAP) |
C F V
|
NM |
$10,000 |
(505) 989-3960 |
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