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New Mexico Housing Trust Fund Rental Assistance Program

Published on September 2, 2020

State Agency	New Mexico Mortgage Finance Authority
Program Name	New Mexico Housing Trust Fund Rental Assistance Program
Program Description	This is an existing program that provides flexible funding for affordable housing initiatives. A portion of NMHTF funds has been extended to provide financial relief to tenants of income-restricted properties monitored by the New Mexico Mortgage Finance Authority, who have experienced a loss of income resulting from the COVID-19 pandemic.
Program Website	housingnm.org
Program Status	Accepting Applicants
Start Date	05/18/2020
Eligibility Criteria	• Household income must be at or below 80 percent of AMI. • Must reside in an income-restricted property monitored by New Mexico MFA regardless of whether the unit is income-restricted as long as the household meets eligibility requirements. • Must not be a recipient of rental assistance programs such as Section 8. • Must be experiencing a reduction in household income due to circumstances related to the COVID-19 pandemic.
Eligible Activities	Rent Rent arrearages
Direct Recipient of Assistance	Landlord
Administration Structure	Property owners/managers are required to submit applications on behalf of their tenants to the state HFA for review and payment processing.
Maximum Length of Assistance	Up to 3 months.
Maximum Assistance Available Per Household	Not specified
Household Contribution Requirements	None
Total Applications as of Date	143
Total Household Recipients of Assistance as of Date	36
Funding Source	State Funds
Total Funding Amount of Program	$3,000,000.00
Remaining Funds as of Date	$2,916,831.00
Date of Entry or Changes	10/13/2020