Gary Sandler, Real Estate Connection Published 3:13 a.m. MT Aug. 2, 2020
Gary Sandler (Photo: Josh Bachman/Sun-News)
The New Mexico Mortgage Finance Authority is best-known for providing down payment assistance and affordable mortgages for first-time buyers. What many do not know, however, is that MFA also provides down payment assistance and affordable financing for buyers who currently own a home and desire to purchase another primary residence.
MFA’s NextHome/NextDown program provides a benefit that is unique to the mortgage industry. That benefit comes in the form of a fully forgivable second mortgage that allows current homeowners to purchase a new or existing single-family home, townhome, condominium or doublewide or larger manufactured home as their next primary residence — using just 40 to
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