Multifamily Housing Programs and Brief descriptions:

New Mexico Energy$avers Program
Below-market interest rate loans for energy efficiency improvements, including alternative energy upgrades, to new housing development projects and to projects involving the acquisition and rehabilitation of existing rental and for-sale housing throughout the state.

Housing Trust Fund
Rental Housing Development/Workforce Rental Housing Development/Special Needs Rental Housing Development/Rental Acquisition and Rehabilitation forms.

Primero Loan Program
Short term, loans to help finance the development of affordable rental or special needs facilities throughout the state.

BUILD IT! Loan Guaranty Program
Guaranty of conventional bank interim loans for non-profit, public or tribal agency sponsored projects with set asides and local government commitment

HOME/Rental  
Federal HOME Investment Partnership funds used to provide gap financing for development of affordable rental or special needs housing, through either new construction or acquisition and rehab of existing properties. Albuquerque and Las Cruces not eligible.

542(c) FHA-Insured Multifamily Loan Program
FHA-Insured Construction/Perm or permanent mortgages for acquisition/rehab or new construction of affordable rental properties.

Access Loans
Provide up to $2,000,000 in FHA-insured construction and permanent financing for small scale affordable housing projects throughout New Mexico. It is designed to minimize transaction and due diligence costs and expedite processing for small projects.

Tax Exempt Bond Financing Program 
This program summary is intended as a general guide to developers, to assist in the determination as to whether tax exempt bond financing is an appropriate vehicle for a proposed project.

501c3
501(c)(3) bonds are a desirable source of financing for multifamily housing, because the bonds themselves require no allocation of private activity bond volume cap or other scarce resources.

Housing Tax Credit - Allocations
Equity investments for rehabilitation or development of rental properties, with a competitive annual allocation round in February. Set asides and high mandatory threshold requirements apply.

Housing Tax Credit - Compliance
As the advocating agency in New Mexico, MFA is also responsible for compliance monitoring. As stated in the monitoring plan, MFA will conduct on-site reviews of HTC projects at least once every three years.

Elderly/Assisted Living
A variety of MFA programs that can be used to develop assisted living facilities, with different requirements, are described in the Assisted Living Program Matrix.

Native American Housing Initiatives
Custom designed to provide technical assistance and financing to promote the development of affordable owner occupied, rental or special needs housing on Native American Trust Lands.

Land Title Trust Fund
This Act creates the Land Title Trust Fund (the “Fund”). The Act provides that certain title company escrow funds may be placed in interest-earning accounts; the interest earned is to be remitted to the Fund . The Fund will be used to finance loans or grants that will provide housing for low-income persons (household income not more than 80% of median), and other uses.