Even with improved housing conditions in New Mexico, some homebuyers and low-income individuals are still struggling to make monthly payments for their rent and mortgage. For this reason, there are housing assistance programs in New Mexico to support those in need of assistance.
Rental Assistance Program (RAP)
RAP is dedicated to providing rental assistance to individuals and families who are homeless and those at risk of becoming homeless. The goal of the program is to ensure these individuals achieve stability and reduce the risk of them becoming homeless in the future. The program is run by the New Mexico Mortgage Finance Authority who engage other partners in ensuring improved housing for people experiencing homelessness. Find out more at https://www.housingnm.org/community_development/rental-assistance-programs-rap.
The Central New Mexico Housing Corporation
The CNMHP is committed to helping low-income individuals and families make energy efficient in their homes by educating them on energy-saving measures that have the potential of lowering their monthly bills and allow for more energy efficiency in their homes. The Central New Mexico Housing Corporation works in collaboration with the local, state, and federal programs to help reduce the energy bills of struggling households and promote more efficiency. Find out more at https://www.centralnmhousing.org/frequently-asked-questions/. The Housing Corporation provides equal housing opportunities to eligible New Mexicans regardless of their race, religion, national origin, sex disability, spousal affiliation, or physical or mental handicap. For more information, please visit https://www.centralnmhousing.org/.
Emergency Rental and Utility Assistance Program
This program is designed to help individuals in need of rental assistance and whose utility is about to be shut off due to payment failures. The goal of this program is to offer an easily accessible financial assistance program to the residents of Albuquerque. The intention is to limit challenges some people might face while trying to access housing assistance programs. Assistance is provided is based on the available funds to run those programs. Are you in need of rental or utility assistance? Well, you can’t just sit there and do nothing. Reach out to your landlord and explain your situation. Once you have made your landlord aware, look for rental assistance as soon as possible. Visit https://www.cabq.gov/family/services/homeless-services/eviction-prevention for more information.
Move-in Assistance and Eviction Prevention Program
The MIAEP fund assists eligible individuals and households with rent, security deposit, and any other costs associated with housing. The applicant must have a documented severe or persistent mental illness. The funds provided can be used to settle the first month’s rent, damage deposit, eviction prevention, and utilities. Do you want to apply for this program? Please visit https://www.hopeworksnm.org/move-in-assistance-and-eviction-prevention-program/#14ff5cd8376cb4669.
Crisis Housing Program
The Crisis Housing Program offers temporary, transitional housing to individuals with severe mental illnesses who are just being discharged from hospitals or psychiatric centers and are at risk of becoming homeless. The program provides short-term housing of up to 120 days. Qualified individuals are served by Certified Peer Support Worker to have their income entitlements restated and identify permanent housing in the community of choice.
Linkages Supportive Housing Program
The supporting housing program is designed to help individuals diagnosed with severe mental illness and are functionally impaired. This program is projected to serve approximately 170 households. Assistance provided depends on household size and annual income. Find out more at https://newmexico.networkofcare.org/mh/content.aspx?cid=8823.
Emergency Homeless Assistance Program (EHAP)
The EHAP connects eligible individuals and families with temporary shelters that are located throughout New Mexico. These services are offered to those families facing eviction or homelessness and those fleeing domestic violence. Please visit https://www.housingnm.org/community_development/emergency-homeless-assistance-program-ehap for more information.
New Mexico Coalition to End Homelessness
The New Mexico Coalition to End Homelessness was established in 2000 to end homelessness in New Mexico. With over 70-member organization, the coalition is committed to providing housing services to individuals and families facing homelessness. The coalition uses advocacy, training, coordinated grant-writing, and fundraising in carrying out its mission. The coalition has a database that tracks the progress in ending homelessness in New Mexico. Find out more at https://nmceh.org/.
Homeowner Protection Program
The office of the attorney general runs the Keep Your Home New Mexico Program to help homeowners get back on their feet and regain affordable and stable housing. The office of the attorney general recognizes that even with improved housing in the market, there are still low-income homeowners struggling to make their monthly mortgage payments and are at risk of losing their homes. Please visit https://www.nmag.gov/homeowner-protection-program.aspx for more information.
Making Home Affordable Program
The Making Home Affordable program is part of the federal Homeowner Affordability and Stability Plan which is designed to give homeowners facing foreclosures or those who are in debt the opportunity to refinance and modify their mortgage loans. The program offers direct services to eligible homeowners. New Mexico homeowners can benefit from the program through the following two ways:
Those at risk of foreclosure may qualify for a loan modification which can reduce their monthly mortgage payments.
Homeowners with admirable loan history may get the opportunity to refinance their loans into a stable, fixed-rate 15– or 30– year mortgage. This allows them to get out of the danger of immediate foreclosure.
For more information about the program, please visit http://www.housingnm.org/homeowners/making-home-affordable-program.
FIRSThome Program
The FIRSThome program is run by the New Mexico Mortgage Finance Authority and it supports homebuyers with low-income. The funds can be used to finance any single-home property and can be used together with both the first down and HOMENow down payment assistance programs. FirstDown down payments assistance program offers mortgage loans to eligible families and individuals who are first-time homebuyers. On the other hand, FIRSTDown down payment assistance program provides mortgage loans to first-time homebuyers at low-interest rates together with down payment and closing costs.
HELP New Mexico, Inc.
HELPNM provides supportive housing and rent assistance to families facing crisis through a community-based approach. The goal is to assess families facing a crisis and lead them to find stability while bridging the gap between vulnerable groups and the most critical needs. The HELPNM provides housing assistance as a last resort to eligible families. The HELPNM work in collaboration with other partners in navigating housing and utility crisis. Since the demand for help is high and resources are limited, the agency only prioritizes services for the most vulnerable groups like the seniors, disabled, and families with children. Please visit https://helpnm.com/housing/ for more information.
New Mexico Section 8 Housing
The New Mexico Section 8 Housing provides rent-subsidized apartments and homes to eligible individuals and families who earn low-income. The Vouchers are only provided to approved HUD homes. Section 8 Housing assistance is provided to eligible individuals and families regardless of their gender, race, nationality, ethnicity, or religion. In New Mexico, the Housing Authorities assist both Spanish speakers and legal immigrants. In this program, assistance is available to the low-income, including the gig workers or individuals with inconsistent income. Once approved for the program assistance, the New Mexico Family pays up to 30% of their monthly income for rent or mortgage purposes. Apart from rent assistance, the program is committed to ensuring families achieve self-sufficiency and providing case management and advisory services to the participants in New Mexico. For more information, please visit https://www.hud.gov/states/new_mexico/renting.
The New Mexico Low-Income Home Energy Assistance Program
The New Mexico LIHEAP is designed to provide financial assistance to low-income families to help them pay for utility bills. the program also provides crisis and weatherization assistance to families in need. Who is eligible for this program? You must be a resident of New Mexico and a citizen of the U.S. You will need proof of disability, but only when you are not receiving any disability income. You must provide proof of income and ensure it does not exceed the low-income limits in your area. You must also demonstrate that you need help with heating and cooling costs. Should you have disconnected utility service, notice, or out of fuel or gas, you will get fast assistance. You will simply provide proof of your situation. find out more at https://www.hsd.state.nm.us/LookingForAssistance/Low_Income_Home_Energy_Assistance_Program.aspx.
USDA’s Single-Family Housing Direct Home Loans in New Mexico
The purpose of this program is to provide payment assistance to eligible low-income homeowners while increasing their repayment ability. The subsidy reduces the monthly mortgage for a while until the loan is used up. The loans are payable over 20 years and have the lowest interest rate (1%). Applicants interested in the program must demonstrate repayment ability and prove that they will occupy the property as their primary residence. Your income must also not exceed the low-income limits in your area. For more information, please visit https://www.rd.usda.gov/programs-services/single-family-housing-direct-home-loans/nm.
USDA’s Single-Family Housing Repair Loans & Grants in New Mexico
The purpose of this program is to provide financial assistance to the low-income homebuyers through grants and loans which are repayable after some time when they become stable. You must demonstrate the need for financial support and that you will be able to repay the loan when required. To be eligible, you must have tried obtaining a loan elsewhere with no success. Loans are used to make the necessary improvements at homes while grants are given to the seniors to help them remove the health and safety hazards from their homes. for grants, applicants must be 62 years and above and must not be able to repay their loan. Find out more at https://www.rd.usda.gov/programs-services/single-family-housing-repair-loans-grants/nm.