Homeowner Assistance Fund Programs
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 $20,000 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 $20,000 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 $20,000. Previous award amount will be deducted from the potential household maximum of $20,000. Note: One Reinstatement is approvable per household. Households not receiving the full benefit after having been fully reinstated one time but that did not receive the maximum award amount are not eligible to reapply for additional reinstatements or past due balances.
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 eligble 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.
The Homeownership Loan Reinstatement and Loss Mitigation Program will provide a *one-time assistance *up to $20,000 per household to eliminate past due payments including payments in forbearance. The program can also assist homeowners achieve housing cost affordability through principal reduction or post-loss mitigation lien extinguishment.
*Only one reinstatement per household is eligible
**Award amount is based on actual cost
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 $20,000 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.
You will be directed to an external website to register for the program and begin your application.
If you have additional questions, e-mail us below or call 505.308.4206 or 866.488.0498.
If you are renter seeking assistance for rent or utilities, visit www.renthelpnm.org
If you are a homeowner seeking assistance for utilities, visit www.renthelpnm.org/homeowner-utility-assistance
If you live on tribal lands and need rental or utility assistance, contact your tribal government or tribally designated housing entity.