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Published 1 May 2019 The New Mexico Mortgage Finance Authority (MFA) is best known for providing mortgages and down payment assistance to first-time homebuyers. They do much more than that, however. In addition to also providing tax credits and financing for the development of affordable rental housing, they likewise offer special financing for buyers who
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Published 13 September 2018 The New Mexico Mortgage Finance Authority (MFA) has announced the release of HomeNow, which is a down-payment assistance loan available to lower-income, first-time homebuyers. HomeNow is a zero-percent interest rate loan that is non-amortizing, which means that there are no monthly payments required. According to Teri Baca, MFA homeownership representative, the
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May 24, 2018 Are no closing-cost mortgages too good to be true?
Published 24 May 2018 The answer to the question posed in the headline is a resounding “yes”; no closing-cost mortgages are indeed too good to be true. The truth is that all mortgages have closing costs. The no closing-cost moniker is simply mortgage-speak for employing alternative methods of having the customer pay them. The bottom
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Mar 30, 2018 Paying extra on a mortgage saves big bucks
Published 30 March 2018 According to a new study published in the Journal of Financial Economics, 20 percent of homeowners who could have benefited from refinancing chose not to and lost out on $5.4 billion in interest savings. While refinancing may be advantageous for some, it may not be possible or cost effective for others.
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Published 16 February 2018 LAS CRUCES – The New Mexico Mortgage Finance Authority served more first-time and non-first-time home buyers in 2017 than in any other year on record, according to MFA Homeownership Representative Teri Baca. MFA was created by the state legislature in 1975 and has provided mortgage loans and down payment assistance to more
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Published 19 January 2018 LAS CRUCES – Which is the better choice: Purchasing an entry-level home now utilizing your current income, or waiting to purchase your dream home when your income is noticeably higher two years from now? That’s the dilemma a Las Cruces elementary school teacher is facing at this very moment. Since our
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