Homeowner Assistance Fund Programs

Program Details

The New Mexico Homeowner Assistance Fund (HAF) program will provide housing grants to income-eligible households experiencing financial hardship associated with the COVID-19 health crisis.

These grants are to fund mortgage payments, taxes, and insurance up to $30,000 per household, to maintain housing and/or to reduce housing cost delinquency.

New Mexico homeowners can apply for assistance paid directly to the housing provider/payee (1) home loan reinstatement on past due balances, (2) payment assistance for households receiving unemployment benefits and (3) assistance for homeownership insurance costs and delinquent property taxes for the five most recent years. Balances older than five years are not eligible.

If your household has received assistance from an MFA program in the past, you may still be eligible to apply for HAF funds. Applicants still experiencing hardship that did not receive the potential household maximum of $30,000 in the Pilot Program from May 18, 2021 and August 16, 2021 and/or the New Mexico Homeowner Assistance Interim Program between October 15, 2021 to January 4, 2022 are eligible to reapply for the difference. Eligibility to apply for additional assistance does not guarantee approval. All eligible and approved applications will receive an award amount based on actual delinquency, with a potential maximum award of $30,000. Previous award amount will be deducted from the potential household maximum of $30,000.

Requests are processed in the order received. Requests are funded in the order received depending on the availability of funding. Funding paid on behalf of eligible households must be paid directly to the housing provider, county treasurer or insurance agency as applicable to the request.

This project is being supported, in whole or in part, by federal award number HAF0013 awarded to the New Mexico Mortgage Finance Authority through a sub-award from the State of New Mexico. Original federal funds authorized by the U.S. Department of the Treasury.

Reinstatement Assistance

The Homeownership Loan Reinstatement and Loss Mitigation Program will provide *up to $30,000 per household to eliminate past due payments including payments in forbearance. This program will also pay Partial Claims and Deferrals originated after January 21, 2020.

**Award amount is based on actual cost

Monthly Assistance

The monthly assistance program is available for households where one or more homeowners are currently receiving unemployment benefits and whose housing costs are 40% or more of their household income. This program will fund monthly payments *up to $30,000 per household or 12 monthly payments which ever occurs first.

*Award amount is based on actual cost

Taxes and Insurance Assistance

This program will assist homeowners who need help paying delinquent property taxes or property insurance. Funds can be used to pay up to five years of delinquent taxes, fund reverse mortgage escrow shortages and fund taxes and/or insurance due up to 90 days after applying.

Do I Qualify?

Qualifications vary by the type of assistance requested. 

General eligibility requires that homeowners

Attest that they experienced a financial hardship after January 21, 2020 associated with the COVID-19 pandemic,
Provide income documentation and have incomes equal to or less than 150% of the area median income or 100% of the median income for the United States, whichever is greater, and
Currently own and occupy a primary residence in New Mexico.
Your original loan balance must not exceed $417,000, or the conforming loan limit in place at the time your loan was originated.

How Do I Apply?

Read the FAQs for detailed information.
Gather required documentation.
Start an application. You can quit and resume during the application process if needed.