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. Funding comes from CDBG, Affordable Housing Trust Fund (AHTF), CDFI funds, HOPWA, and the Trust's own loan funds.

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.

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.

Santa Fe Community Housing Trust - Mortgage Reduction Assistance is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, 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.

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.

Santa Fe Community Housing Trust - Mortgage Reduction Assistance names veterans, law enforcement officers, firefighters, and homebuyers 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.

Santa Fe Community Housing Trust - Mortgage Reduction Assistance serves homebuyers purchasing in Santa Fe, New Mexico.

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