Home Repair Grants in New Mexico
Becoming a homeowner helps families save thousands of dollars over time. It helps strengthen communities and supports local New Mexico businesses that contribute to the wellbeing of its economy. Choosing a home in New Mexico involves considering your finances and how much you are willing to spend. How much income must you make to live comfortably in a safe home in New Mexico? Many people chose to move to this state of enchantment because of its low cost of living; 11.6% lower than the national average. Need help to safely stay in your home and keep it in good repair? Well, there are institutions and programs in New Mexico to help you meet your home improvement needs. Keep reading this article for information on home repair grants in New Mexico. Happy reading.
Single-Family Housing Repair Loans & Grants in New Mexico
The purpose of the Rural Development’s Single-Family Housing Repair Loans and Grants program is to provide home improvement assistance to New Mexico families in New Mexico. The program provides 1$ loan of up to $20,000 to low-income families to help with the repair, improvement, and modernization of their homes. Grants of up to $7,500 are given to senior homeowners to help them remove the safety and health hazards from their homes. Families can apply for a combination of grant and loan assistance for home repair (up to $27,500). Qualifying homeowners have up to 20 years to repay the loans. Grants must be repaid if the homeowner sells or ceases to occupy the property. You must be the homeowner and occupy the house, meet low-income limits (below 50% of the area median income), and be unable to acquire credit anywhere else. Check if your home address is eligible for the program assistance. Your local Rural Development Office will accept the applications for the program assistance. Approval for the program support depends on the availability of funds. You may reach out to the USDA home loan specialist in your location to assist you with the application process. Read more at https://www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-repair-loans-grants/nm.
The New Mexico Weatherization Program
You can have access to home upgrades to improve the energy efficiency in your home through the New Mexico Weatherization program. The programs help homeowners save money and make the necessary upgrades to install cost-effective systems. Ensure you meet the low-income requirements in your county of residence to have access to the weatherization program benefits. Find out more at http://www.centralnmhousing.org/.
The New Mexico Mortgage Finance Authority
You can update your home through the New Mexico Mortgage Finance Authority’s assistance. The program works with New Mexico homeowners to refinance and offer loans for home repair and other housing needs. Refinancing your home helps you save extra money you could use to fund your home improvement projects. The seniors, single moms, veterans, and the disabled can apply and get approved for the agency’s assistance. Find out more at http://www.housingnm.org/.
Santa Fe’s Home Repair Grants
If you are a low-income homeowner in Santa Fe, you can qualify for CDBG program grants to repair your home. The program funds the non-profits and units of local governments, which then offer home repair assistance to eligible low-income homeowners. You may also qualify for the HOME Partnership program assistance to update your home. The Santa Fe’s Housing Trust Fund can also help you with grants to fix your home. These programs provide help to single mothers, seniors, people with disabilities, veterans, and low-income families. Read more at https://www.santafenm.gov/homeownership.
MFA’s Rehabilitation Program
The purpose of this program is to provide home repair assistance, including accessibility modification to low-income homeowners. The program services include heating/cooling systems replacement geared towards improving energy efficiency and reducing utility bills, installation of ramps and bathroom rails to prevent the disabled from experiencing falls and accessibility modifications. Repair or replacement of furnaces and water heaters, utility connections, and measures needed to bring home to health standard, up to code, or into compliance. The Household income should not exceed 80% of the area median income. Your home value must meet the program guidelines to qualify for rehabilitation program assistance. The amount of assistance depends on the level of need. Single mothers, the disabled, veterans, and senior homeowners can apply for the program assistance. Visit https://housingnm.org/home-repair-and-energy-efficiency/home-rehabilitation/home-investment-partnership to learn more about the program.
Southwestern Regional Housing & Community Development Corporation – Homeowner Occupied Rehabilitation Program
This program provides home repair assistance to low-income homeowners who can’t afford their home improvement needs. Your family income must not exceed 50% of the Average Median Income to qualify for the program support. The program serves homeowners in Hidalgo, Grant, and Luna counties in New Mexico. The program services are expected to expand to Catron and Sierra counties. Eligible home repairs include roofing, windows and doors, siding, electrical work, plumbing, weatherization, and energy efficiency enhancement. Find the program application form here. Find out more at https://swnm.org/?page_id=28.