STEPHANIE ROMISHER-WEBB, REALTOR AT LATTE STONE REALTY, LLC·

 Rent= Worthless. That is what rent receipts are. You CAN’T deduct them from taxes, they provide no equity, and they certainly don’t appreciate in value. You don’t have to remain a renter because with $500+ we can make you the owner of your own home like the one I currently have listed in Ventana West- 2700 SF, 3 bedrooms, 2.5 baths, a huge loft for $229,000. **There are restrictions and criteria that have to be met**

Interested? Call, Text or email 505-977-0786 Latte Stone Realty, LLC lattestonerealty@comcast.net

You just have to get pre-qualified to know what your comfort level and payments will be

I know of 2 new products that are now being offered at Bank of Albuquerque through Lee Smith, MORTGAGE BANKER (NMLS 492537) AT 505-855-0335

FIRST HOME (for First Time Homebuyers) and NEXT HOME ( For seasoned home buyers) Programs through MFA! $500 DOWN FOR EITHER PROGRAM!

FIRST Home is MFA’s first mortgage loan program that is available to first-time New Mexico homebuyers with low to moderate incomes. FIRSTHome can be used in conjunction with MFA’s down payment assistance second mortgage loan program, FIRSTDown. First-time homebuyers are buyers who have not owned and occupied a home as their primary residence in the past three years. After purchasing a home through the FIRSTHome program, buyers must occupy the property as their primary residence within 60 days of closing. The FIRSTHome program can only be used to finance single-family residences. Properties cannot be used for income generation. Business use restrictions also apply. Although a minimum credit score of 620 is required, alternative credit qualification for home buyers with no credit score is acceptable in certain cases. All home buyers must receive pre-purchase home buyer counseling through MFA’s online program, eHome America, or a HUD–approved counseling agency.

Borrowers must contribute at least $500 from their own funds. The borrower contribution cannot be derived from any type of gift, grant or down payment assistance. FIRSTHome is only available through a network of MFA approved participating lenders. A list of participating lenders is published on the MFA website: housingnm.org. Homebuyer income limits and purchase price limits for the FIRSTHome and FIRSTDown programs are listed on the reverse side of this factsheet.

 Affordable financing for Quick Facts first-time homebuyers.

• Exclusively for first-time homebuyers • Use to finance any single family property • Requires a $500 contribution from the homebuyer’s own funds • A minimum credit score of 620 is required • Buyers must receive pre-purchase homebuyer counseling • Works with FHA, VA, USDA and HFA Preferred • Use as a stand-alone first mortgage loan or combine with a down payment assistance second mortgage loan

NEXTHome is an MFA first mortgage loan program that is available to non-first-time homebuyers in New Mexico with low to moderate incomes. It is a combination first mortgage loan and down payment assistance grant. The grant does not have to be repaid. The NEXTHome grant is 3% of the first mortgage loan amount. The grant may be used to finance down payment and closing costs, including pre-paid items. In some cases, it may be used as an additional down payment on the first mortgage loan. The NEXTHome program is used to finance single-family residences. NEXTHome program buyers must occupy the property as their primary residence within 60 days of closing. A minimum credit score of 620 is required. Homebuyers must contribute at least $500 from their own funds. The borrower contribution cannot be derived from any type of gift, grant or down payment assistance. NEXTHome is only available through a network of MFA approved participating lenders. A list of participating lenders is published on the MFA website: housingnm.org.

Homebuyer income limits and purchase price limits for the NEXTHome Household Income Limits

All areas of the state.................................................................. $75,000

NEXTHome Acquisition Cost Limits

All areas of the state................................................................ $350,000

Please contact Lee Smith at Bank Of Albuquerque at 505-855-0335 or 505-507-4751 to get pre qualified on one these great Programs! Then call me to show you homes with your lifestyle in mind.  You can start your prequalification process on line TODAY.

Presented by Stephanie Webb, Latte Stone Realty, LLC 505-803-1872

LATTE STONE REALTY, LLC 505-977-0786 FOR ALL YOUR REAL ESTATE NEEDS

www.nmhomesandproperty.com