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Santa Fe is unusual in its proximity to properties that are classified as rural. Such properties qualify for a loan program offered through the US Department of Agriculture. The unique features of this program are that it allows 100% financing and has no mortgage insurance requirement. The underwriting standards are similar to the other government programs (FHA, VA) though this program does have income limits based upon the size of the family and specific location of the property. In Santa Fe County those limits are approximately $88,000 per year for a family of three.
Many locations do qualify; oddly enough, properties within Los Alamos fall within the guidelines of this program.