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Santa Fe Community Housing Trust - Mortgage Reduction Assistance

Santa Fe Community Housing Trust (supported by City of Santa Fe Office of Affordable Housing) · Santa Fe, New Mexico

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Assistance

$50,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Deferred

No payments until the home is sold or refinanced

What is Santa Fe Community Housing Trust - Mortgage Reduction Assistance?

Santa Fe Community Housing Trust - Mortgage Reduction Assistance is a deferred second loan for homebuyers in Santa Fe, New Mexico, administered by Santa Fe Community Housing Trust (supported by City of Santa Fe Office of Affordable Housing).

  • The Santa Fe Community Housing Trust provides Mortgage Reduction Assistance to reduce the down payment needed by Santa Fe homebuyers, drawing on CDBG, the City of Santa Fe Affordable Housing Trust Fund, CDFI funds, HOPWA (for persons with HIV/AIDS), and the Trust's own loan funds, generally up to $50,000. The Trust is a primary delivery partner for the City of Santa Fe's homeownership support and prioritizes veterans, first responders, special-needs households, larger families, those affected by domestic abuse, and lower-income applicants. This is distinct from the Santa Fe County Housing Authority's down payment program.
  • Mortgage reduction / down payment assistance generally up to $50,000.
  • Layers multiple funding sources (CDBG, AHTF, CDFI, HOPWA).
  • Priority for veterans, first responders, special-needs and larger households.
  • HUD-certified counseling and homebuyer classes.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from CDBG, Affordable Housing Trust Fund (AHTF), CDFI funds, HOPWA, and the Trust's own loan funds.

How much assistance does it provide?

Santa Fe Community Housing Trust - Mortgage Reduction Assistance offers up to $50,000 in assistance.

  • Amounts are the program's published maximums, not an offer — Santa Fe Community Housing Trust (supported by City of Santa Fe Office of Affordable Housing) determines any individual award.

Do you have to pay it back?

Santa Fe Community Housing Trust - Mortgage Reduction Assistance is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Deferred; repaid per loan terms (varies by funding source).
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Santa Fe Community Housing Trust - Mortgage Reduction Assistance is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Santa Fe Community Housing Trust (HUD-certified counseling and monthly homebuyer training classes)
  • Eligibility and terms vary by funding source; applicant must qualify under at least one funding stream. HOPWA component is for first-time buyers with HIV/AIDS at below 80% AMI. GAP: specific interest rate, forgiveness/repayment terms, max purchase price, lien position, and credit score vary by funding source and are not published as a single figure. Priority-population flags reflect stated prioritization, not exclusive eligibility.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Santa Fe Community Housing Trust - Mortgage Reduction Assistance limits household income to 80% of the area median income, which varies by county and household size.

  • Many products serve households at or below 80% AMI; City AHTF products can serve up to 120% AMI (HOPWA-funded component requires income below 80% AMI).
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Is there eligibility for specific groups?

Santa Fe Community Housing Trust - Mortgage Reduction Assistance names veterans, law enforcement officers, firefighters, and buyers with disabilities among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Santa Fe Community Housing Trust - Mortgage Reduction Assistance is a federal program, so it is not limited to New Mexico.

How do you apply?

Applications for Santa Fe Community Housing Trust - Mortgage Reduction Assistance go through Santa Fe Community Housing Trust (supported by City of Santa Fe Office of Affordable Housing), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Santa Fe Community Housing Trust (HUD-certified counseling and monthly homebuyer training classes).

  2. Contact Santa Fe Community Housing Trust (supported by City of Santa Fe Office of Affordable Housing) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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