FIRSTDown, a second mortgage loan to be combined with a FIRSTHome mortgage, offers as much as $8,000 to help with the down payment and closing costs of a home purchase. This second mortgage will have monthly payments.
Only first-time homebuyers are eligible for FIRSTDown. In order to get a FIRSTHome mortgage or FIRSTDown payment assistance, the applicant must be working with a participating lender. Income limits apply.
Purchase price limits also apply. As of 2020, these limits are as follows:
- Santa Fe County - $338,824
- Los Alamos County - $350,471
- All other areas of New Mexico - $271,165
Other programs in New Mexico: