Albuquerque First Time Home Buyers: Buy a Home with the MFA $500 FIRSTHome move-in program
Many Albuquerque First Time Home Buyers struggle to come up with a down payment when getting ready to buy a home. To help these individuals realize their dream of being homeowners, the New Mexico Mortgage Finance Authority (MFA) offers first time home buyer grants to qualified individuals and couples called the “FIRSTHome and FIRSTDown program”. Here’s what you need to know to take advantage of this great program. We’ll answer important questions, including:
- How does the Albuquerque first time home buyer program work?
- Who qualifies as Albuquerque first time home buyers?
- What homes qualify for the Albuquerque first time home buyers program in New Mexico?
- How do I qualify for the Albuquerque first time home buyers program?
We help first time home buyers realize an exceptional opportunity to move into a home through the MFA $500 FIRSTHome move-in program. Below is a list of the most common questions asked about the program.
How does the Albuquerque first time home buyer program work?
For most first time buyers, saving a down payment of 20, 10 or even five percent can seem like an overwhelming obstacle. This is especially true for younger prospective home owners. That said, purchasing a home now is a fantastic investment for the future and an option that should be available to anyone pursuing it.
The New Mexico first time home buyers program makes it “cheaper to buy than to rent a home” for many first time home buyers looking at homes for sale in Albuquerque. It gives them buying power by granting them the funds necessary to cover a down payment and closing costs. Buyers just need to put up as little as $500 of their own funds and have a credit score of 620.
Who qualifies for the Albuquerque first time home buyers program?
In terms of real estate, people who have not owned a home in the past three years may qualify for Albuquerque first time home buyer status. If you feel that you qualify to receive the benefits of the Albuquerque first time home buyers $500 move in program, feel free to contact us at 505-401-7500 to learn more.
What homes qualify for the Albuquerque first time home buyers program?
Most homes in Rio Rancho and throughout Albuquerque and the surrounding areas are available for first time home buyers to move in with as little as $500 down. To obtain the FIRSTHome grant through MFA, buyers must purchase a single-family home—multifamily residences and commercial properties do not qualify. New homes, as well as repossessed or previously owned homes, will qualify for this program.
How do I qualify for the Albuquerque first time home buyers program?
First, you need to meet the qualifications. We work with an approved mortgage lender. They’ll review your monthly income, expenses, employment history and credit report. Then, determine your eligibility for the program. The lender will also decide how much down payment and closing cost assistance you need. From there, they’ll recommend the best New Mexico Mortgage Finance Authority (MFA) program for you.
Buying your first home can be overwhelming!
Buying a home can be daunting for Albuquerque first time home buyers. It helps to have an experienced Realtor® on your side to guide you through everything from finding a great home to applying for the FIRSTHome grant. At Myers & Myers Real Estate, we’ve helped numerous Albuquerque first time home buyers through the process. We’ll guide you through securing financing, searching for homes, negotiating terms and conditions, and handling all the details of the home buying process.
Our foremost goal is to provide you with exceptional customer service. We assist you in finding the perfect home in the right neighborhood, to fit for your lifestyle and needs. Please utilize our Albuquerque real estate expertise to make your home search and buying experience as stress free and rewarding as possible. Give us a call today so we can help you participate in the Albuquerque first time home buyer program!
Buying a Home in Albuquerque
Buying a home can be confusing when you are trying to navigate all of the different paths of home ownership. I live and breathe real estate in Albuquerque and have helped many families find their dream homes! I would love to help help your family find the best neighborhood and the perfect home for your needs and budget. In addition, I’ll make sure you find the RIGHT home, you don’t miss out on any homes that meet your goals, and when the time comes to make an offer, I’ll help you negotiate the best price possible for your new home.
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