¿Está pensando en vender su casa en Nuevo México? Antes de colocar el letrero de “Se Vende” en el jardín, un poco de preparación puede hacer una gran
🏡 Think You Need 20% Down to Buy a Home? Think Again!
Dated: August 4 2026
Views: 11
One of the biggest misconceptions I hear from first-time homebuyers is, “I need to save tens of thousands of dollars before I can buy a home.” The truth is, many New Mexico buyers qualify for programs that can help make homeownership much more affordable.
Through Housing New Mexico (formerly the New Mexico Mortgage Finance Authority), qualified buyers may be eligible for programs that provide down payment assistance, closing cost assistance, and competitive mortgage options.
Some of the programs available include:
🏠 FirstHome & FirstDown
Designed for many first-time homebuyers (generally those who haven’t owned a home in the past three years). FirstDown can provide assistance with your down payment and closing costs when paired with a FirstHome mortgage.
💰 FirstDown Plus
Some qualified buyers may be eligible for additional down payment assistance through this program when used with FirstHome and FirstDown.
⭐ HomeNow
This program is designed for income-qualified first-time homebuyers and offers 0% interest down payment and closing cost assistance that may be forgiven after 10 years if program requirements are met.
Could You Qualify?
Many of these programs have requirements such as:
- Minimum credit score requirements
- Household income limits
- Purchase price limits
- Completion of a homebuyer education course
- Financing through a participating lender
The Bottom Line
If you’ve been renting because you thought you didn’t have enough saved, it may be worth exploring your options. Every buyer’s situation is unique, and there are programs available that many people don’t even realize exist.
As a Realtor, I love helping first-time buyers understand the process and connecting them with trusted local lenders who can determine which programs they may qualify for.
Your dream of homeownership could be closer than you think. If you’re curious about buying your first home in Albuquerque or anywhere in New Mexico, let’s connect! I’ll help guide you every step of the way.
Melissa Moya, Realtor®
Weichert, Realtors® - Image
📍 Serving Albuquerque and Central New Mexico
📞 Call or Text: 720-302-3859
📧 Email: melissamoya505@gmail.com
🌐 Website: melissamoya505.com
#FirstTimeHomeBuyer #NewMexicoRealEstate #AlbuquerqueRealEstate #DownPaymentAssistance #HomeBuying #HousingNewMexico #MelissaMoyaRealtor #WeichertRealtorsImage
Melissa Moya
Melissa Moya is a Realtor in Albuquerque, NM and the surrounding areas. She has a passion for real estate and loves helping her clients achieve their goals. Whether you are a first-time homebuyer, an ....
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