(505) 555-0135Start my application

Down payment help that actually exists here

Four programs, three forms of money and one that is tied to the property address rather than to you. All amounts on this page are sample figures; eligibility is confirmed in writing before you rely on any of it.

Start my applicationBook a call
Programs
Four we originate
Forms
Deferred second, grant, forgivable
Education
Usually required before closing
A street of mid-century homes on a sunny day
The catchAssistance narrows which panel lenders can be used. That trade-off belongs on the comparison sheet.

The four programs

Statewide first-time buyer down payment loan

State housing agency program

Form of money
Second mortgage, deferred
Amount
Up to 4% of the purchase price (sample)
Who it is for
First-time buyers under the county income limit, buying a principal residence
  • Paired with a first mortgage from an approved lender, which limits which panel lenders can be used
  • Homebuyer education certificate required before closing
  • Recapture provisions can apply if you sell within nine years

Teacher, first responder and health worker set-aside

State housing agency program

Form of money
Grant or forgivable second
Amount
Up to $8,000 (sample)
Who it is for
Eligible public service employment plus the standard income test
  • Employment verification from the district or agency is part of the file
  • Forgiveness usually runs over a defined occupancy period
  • Often stackable with the statewide down payment loan

City of Albuquerque workforce housing assistance

Municipal program

Form of money
Deferred second mortgage
Amount
Varies by funding year (sample)
Who it is for
Income-qualified buyers purchasing within city limits
  • Funding is allocated annually and can run out mid-year
  • Property has to sit inside the city boundary, which excludes some Bernalillo County addresses
  • Counselling agency intake is usually required first

Lender-funded closing cost grant

Two lenders on our panel

Form of money
Grant, no repayment
Amount
Up to $5,000 (sample)
Who it is for
Buyers purchasing in designated census tracts, no first-time buyer requirement
  • Eligibility is by property address rather than by borrower
  • Does not have to be repaid and does not create a lien
  • Only available through the two panel lenders that fund it, which is exactly why brokers find these

Program names are generic descriptions of the kinds of assistance available in New Mexico. Amounts, income limits and terms shown are sample figures for a demonstration site and are not an offer of credit.

Four things nobody mentions until closing week

  • It usually limits your lender choice

    Most state programs require the first mortgage to come from an approved lender, which narrows our panel for that file. We show you what the narrowing costs before you commit.

  • Homebuyer education is not optional

    A counseling certificate from an approved agency is usually a closing condition. The course takes a few hours online and we send the link in week one.

  • Funding runs out

    Municipal allocations are annual. A program that was open in March can be closed in September, which is why we confirm availability in writing rather than from a web page.

  • Recapture can apply

    Some deferred seconds carry a recapture provision if you sell inside a defined period. It rarely bites, but you should know it exists before closing, not after.

A community room set up for a homebuyer education session
Free workshopsWe cover assistance eligibility in the Saturday sessions, in English and Spanish
See upcoming workshopsAsk about eligibility

Local questions

Not covered here? Call (505) 555-0135 or send us a note. Se habla español.

Send it to us and we will check the same day. The eligible boundary runs through neighborhoods in Rio Rancho and Valencia County, so two houses on one street can have different answers.

Yes. Santa Fe pushes more files above the conforming limit, so most of that work goes to the jumbo investors on our panel where reserves and appraisal strategy decide the outcome.

Several state housing agency programs, a municipal program inside Albuquerque city limits, and a lender-funded grant available in designated census tracts through two of our panel lenders. Details are on the down payment assistance page.

Yes, and there is no sales pitch at the end. Bring a notebook. They run on Saturday mornings in English and Spanish, about two hours.

Cookie preferences

Choose which cookies you allow. You can change this at any time from the link in the footer.