The New Mexico Mortgage Finance Authority (MFA) is a self-supporting quasi-governmental entity that provides financing and housing programs for low- to middle-income New Mexicans. Using funding from housing bonds, tax credits and other federal and state agencies, MFA provides resources to build affordable rental communities, rehabilitate aging homes, supply down payment assistance and affordable mortgages, offer emergency shelter, and administer rental assistance and subsidies. MFA offers over 40 housing programs, including down payment assistance, weatherization and rehabilitation programs.

In the pursuit of homeownership, Tai Wilson and her family achieved their dream last year with the help of MFA and one of its participating lenders, Nikki Sandoval-Belt of Cornerstone Home Lending in Farmington. MFA’s first-time homebuyer programs played a pivotal role in enabling Wilson and her family, as well as many others, to own their own home.

“You have no idea how thankful I am for the MFA program,” said Wilson. “I’m super thankful, and I cannot believe I’m here in my own home with my kids. I’m super excited to work for something that’s going to be mine in the long run and hopefully my kids’ when they grow up.”

In fiscal year 2023, MFA provided $388,294,000 in combined first mortgage and down payment assistance in the amount of 3,352 loans to 1,845 New Mexico families, which includes $12,301,805 for down payment assistance in the form of 1,807 loans and grants.

Beginning in mid-January 2024, MFA introduced a third mortgage down payment assistance program designed to provide additional down payment funds to first-time homebuyers qualified to use MFA’s existing FirstHome program. Previous homeowners who have not owned and occupied a home as their primary residence in the past three years may also be eligible for the program.

Homebuyer assistance is just one example of what MFA offers to New Mexicans across the housing continuum. Another program that targets existing homeowners is the NM Energy$mart Weatherization Assistance Program, which provides assistance to low-income households in reducing their energy consumption, lowering costs and improving their health and safety by implementing various energy-efficient measures in their homes. MFA administers the program through community-based nonprofit organizations offering statewide services.

The NM Energy$mart Weatherization Assistance Program is funded by the U.S. Department of Energy (DOE), Low-Income Home Energy Assistance Program, New Mexico Gas Company, PNM, New Mexico Housing Trust Fund and El Paso Electric. The term “weatherization” is linked to DOE’s Weatherization Assistance Program, which was established by Congress in 1976, while “Energy$mart” is specific to New Mexico’s program. MFA has administered the Energy$mart weatherization program in the state since 1997.

At its November meeting, the MFA Board of Directors approved $3.5 million in funding from the New Mexico Housing Trust Fund to support solar systems for homes that are receiving NM Energy$mart Weatherization Assistance Program services. This first round of funding for solar will be used by the multifamily service provider, as well as the single-family home service provider in the Las Cruces area. Homeowners who have been on the service provider’s waiting list for weatherization services will be prioritized. The solar program will be expanded to the rest of the state as funding becomes available.

The MFA Board of Directors also approved funding of approximately $4.96 million during its October meeting, supporting services in Tribal Territories as part of the NM Energy$mart Weatherization Assistance Program. Central New Mexico Housing Corporation will serve the Pueblo Territory, all tribes and pueblos except for the Navajo Nation, while Red Feather Development Group will serve the Navajo Nation Territory.

At a celebration of energy efficiency, a home that benefitted from the NM Energy$mart Program was highlighted at the New Mexico Weatherization Day event in Mescalero in October 2023. One of MFA’s dedicated service providers, the Southwestern Regional Housing and Community Development Corporation, performed energy-efficient upgrades to the showcased home. This transformative project includes the addition of water heater and pipe insulation, energy-efficient LED lighting, air sealing for drafts, low-flow showerheads, carbon monoxide detectors, smoke detectors, venting correction, an electrical upgrade and mechanical ventilation. The home also received energy-efficient windows, a door and a refrigerator. The old propane-fueled furnace was replaced with a highly efficient heat pump that uses a less expensive fuel source.

In addition to weatherization, MFA offers homeowner rehabilitation services. The HOME Rehabilitation Program provides repairs to bring the home up to code or accessibility modifications for homeowners who lack the resources to do so. Services include:

• Hazard reduction measures, such as the installation of ramps or rails in bathrooms for elderly or disabled individuals who are at risk of falling.
• Accessibility modifications for individuals with disabilities that include the installation of handrails and ramps or widening doors.
• Repair or replacement of major housing systems such as furnaces, ducting or water heaters.
• General and essential property improvements that are non-luxury in nature, including roof replacement and mobile home replacement.
• Measures needed to bring a home up to code or into compliance.
• Energy-saving measures that help improve the efficiency of the heating cooling of the home and reduce utility costs.
• Utility connections.

A list of the most current home rehabilitation service providers is available on the MFA website at housingnm.org.

Because it has historically been challenging to identify a home rehabilitation service provider in certain counties, MFA’s Board of Directors granted approval to provide services directly through the MFA Home Improvement Program (HIP) to serve communities in which there is currently no other active service provider. From February 1-28, 2024, MFA will accept applications from qualified individuals in certain counties whose homes need rehabilitation. Information about the program is available at housingnm.org.

The HIP program allows for repair, reconstruction and rehabilitation of homes occupied by eligible income-qualified homeowners. These improvements include — but are not limited to — making energy-saving conservation improvements, eliminating health and safety hazards, enhancing accessibility for disabled or elderly persons, structural alterations and reconstruction, repair or replacement of major housing systems, adding or replacing roofing, reconditioning plumbing, installing or replacing a septic system and mobile home replacement.

To preserve and improve existing affordable housing and catalyze redevelopment, MFA provided $116,219,000 to weatherize, rehabilitate, preserve or redevelop 1,577 homes in fiscal year 2023.

“At MFA, we continue to do everything we can so New Mexicans will have safe, affordable housing opportunities,” said Isidoro Hernandez, MFA executive director/CEO. “We are always willing to explore new, innovative programs to expand our reach and serve even more New Mexicans each year.”

Overall, MFA’s fiscal year 2023 impact included:

• $585,797,000 in total funding administered.
• 18,963 households served.
• 3,707 homes produced, financed or preserved.

Down payment and closing cost assistance, weatherization and rehabilitation are just a few of the many programs MFA has to offer. For a complete list of MFA programs made available to provide safe, affordable housing to New Mexicans, visit housingnm.org.