MFA loans with Zero down payment still exist for First Time Homebuyers. We'll be talking about details of the New Mexico Mortgage Finance Authority loan program (MFA loan) which makes it possible to purchase a house for zero down using only your $500 earnest money deposit. MFA loans are for moderate income families as well as lower income families, so of course some restrictions apply.
You can buy any home within your price range with this program, there are no neighborhood restrictions. Also, you can you use it with an FHA loan which means you can use a lower credit score to qualify.
Listen in and them contact Patsy Bailey, WestStar Mortgage, for more details.
We hope you enjoy our broadcast today about the MFA loan for first time home buyers in New Mexico.
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