Tres Rios Habitat for Humanity Homeownership Program

Tres Rios Habitat for Humanity Homeownership Program is a first mortgage for homebuyers in Farmington, New Mexico, administered by Tres Rios Habitat for Humanity. Tres Rios Habitat for Humanity partners with qualifying low-income families in San Juan County to build safe, energy-efficient homes that the family then purchases through an affordable, no-profit, zero-interest mortgage held by the affiliate. Homebuyers complete 200 hours of sweat equity per adult, attend homeowner education classes, and make a $500 down payment. The model substitutes sweat equity and a 0% mortgage for conventional down payment and financing, making homeownership attainable for households at or below 80% of area median income. Zero-interest (0%) no-profit mortgage. Low $500 down payment. Sweat-equity substitutes for cash down payment. Homebuyer education and budgeting classes. Newly built energy-efficient home. Accessibility-designed homes available. Funding comes from Habitat for Humanity affiliate donations, ReStore proceeds, grants, and homeowner mortgage payments.

Tres Rios Habitat for Humanity Homeownership Program is a first mortgage and is repaid under the terms set by Tres Rios Habitat for Humanity. Repayment is triggered by Monthly mortgage payments per the affordable, no-interest Habitat mortgage; sale/transfer typically triggers affiliate right of first refusal or recapture per Habitat mortgage documents (specific resale terms not published online). The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Tres Rios Habitat for Humanity Homeownership Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: No published minimum credit score; affiliate performs a credit check and reviews credit references as part of the selection process. A homebuyer education course is required, through Tres Rios Habitat for Humanity (budgeting, home repair, maintenance programs; homeowner meetings). Residency requirement: Must have lived in San Juan County for at least one year. Applicant must demonstrate inadequate current housing; must have lived in San Juan County for one year; income at or below 80% AMI ($52,100 for a family of four); $500 down payment; 200 sweat-equity hours per adult over six months; participation in budgeting/home-maintenance programs; credit check and income/employment verification.

Tres Rios Habitat for Humanity Homeownership Program limits household income to 80% of the area median income, which varies by county and household size. Total family income must not exceed 80% of San Juan County area median income; stated as not exceeding $52,100 for a family of four per the affiliate (2025-2026). Limits for other household sizes scale with HUD AMI but are not individually published. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Tres Rios Habitat for Humanity Homeownership Program caps the purchase price as follows: Not applicable; home is built and sold by the affiliate at no profit. Eligible property types include Single Family. New construction is eligible. Manufactured homes are not eligible.

Tres Rios Habitat for Humanity Homeownership Program serves homebuyers purchasing in Farmington, New Mexico.

Applications for Tres Rios Habitat for Humanity Homeownership Program go through Tres Rios Habitat for Humanity, which publishes the current terms and the application steps on its own site. Funds are reserved through Initial application / family selection cycle; selection by affiliate Family Selection Committee. 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.