Do I have to be a first-time buyer for New Mexico FirstDown Plus?

Yes. The program lists a first-time buyer requirement.

Is there an income limit?

Yes. The listed income limit is Per HH.

What credit score does New Mexico FirstDown Plus list?

The listed minimum credit score is 620.

New Mexico FirstDown Plus

New Mexico FirstDown Plus is a 3rd mortgage 0%, 10-yr forgive from MFA. Available statewide in New Mexico. Up to $15,000 toward a home purchase. For first-time buyers. Income limit: Per HH.

Up to $15,000

Listed as open as of May 2026

Available statewide in New Mexico.

First-time buyer	Required
Income limit	Per HH
Minimum credit score	620
Homebuyer education	Required (HFA-approved (Framework, eHome, NeighborWorks, etc.))
Occupations	Statewide NM
Property types	SFR, condo, manuf
Occupancy	Owner-occupied primary
Eligible loan products	FHA/VA/USDA/Conv
Sales price cap	Per county
Repayment	Forgiven 10 yrs
Forgivable	Per program structure
Stacking	Layers with FirstDown

Source MFA·official program page·Listed May 2026

Cal has not re-checked this listing recently. Confirm the current terms with the program administrator before relying on them.

Provider: MFA · program details at the provider’s site.

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