Rio Rancho Down Payment Assistance is administered by the New Mexico Mortgage Finance Authority (MFA) to
expand access to safe, affordable housing. Qualified borrowers receive up to $10,000 along with homebuyer
education, credit counseling, and post‑purchase resources. Funds may be layered with federal products, such as
FHA, VA, or USDA loans, and other state initiatives to maximize purchasing power. The program works statewide
through a network of MFA‑approved lenders and requires a minimum investment from the borrower to ensure
long‑term sustainability. Borrowers must occupy the property within 60 days of closing and meet annual
recertification requirements when applicable. MFA periodically reviews income and purchase‑price limits to
reflect HUD guidelines and local market conditions, guaranteeing that assistance targets those most in need.