Created by state legislation in 2005 and operated by the New Mexico Mortgage Finance Authority, New Mexico's Housing Trust Fund provides flexible funding for housing initiatives that will provide affordable housing primarily for persons or households of low or moderate income. Eligible borrowers include nonprofit organizations, for-profit organizations, governmental housing agencies, regional housing authorities, governmental entities, governmental instrumentalities, tribal governments, tribal housing agencies and other entities as outlined in the Notice of Funding Availability (NOFA). Eligible projects include the costs of infrastructure, construction, acquisition and rehabilitation necessary to support affordable single family or rental housing as outlined in the annual NOFA.
Very low-income households (income less than 50% AMI)