NEW MEXICO TO OFFER BOTH RENTERS AND HOMEOWNERS ASSISTANCE
The State of New Mexico has brought two programs that provide housing aid under one consolidated program to simplify access to emergency housing assistance funds. The newly created New Mexico Home Fund helps homeowners and renters in New Mexico that have been financially impacted during the pandemic cover housing expenses and avoid eviction or foreclosure. The NM Home Fund combines the Homeowner Assistance Fund (HAF) and Emergency Rental Assistance Program (ERAP) and can be accessed at nmhomefund.org.
“My administration has been focused on helping New Mexico residents through these past difficult years. As part of that support, over $167 million in assistance has been provided to renters in just the past 15 months,” said Gov. Michelle Lujan Grisham.
Under the rental program, renters can receive assistance for past, current, and future rent as well as utility payments for up to 15 months. The program has awarded rent aid in every county in New Mexico with 76,068 in awards totaling $167,089,060.84
General eligibility requirements for homeowners:
- Applicants must occupy the home as a primary residence
- They must have experienced a financial hardship associated with the COVID-19 pandemic
- Have incomes equal to or less than 150% of the area median income
- Original loan balance cannot exceed $417,000.00
General eligibility requirements for renters:
- Be a renter in New Mexico
- Have an annual household income at or below 80% of the Area Median Income
- Have been affected financially during the COVID-19 pandemic
- At risk of eviction or housing instability
For a full list of eligibility requirements, as well as needed documentation, please visit: www.nmhomefund.org.