Latest news with #IsidoroHernandez
Yahoo
25-03-2025
- Business
- Yahoo
New Mexico Housing opens up loans to landlords to incentivize affordable housing
New Mexico's housing agency is offering thousands of dollars in forgivable loans to landlords who agree to fix their properties and lease them out at an affordable rate to people who receive housing assistance. (Photo via Getty Images) New Mexico's housing agency is offering forgivable loans to private landowners who agree to improve their rental properties and lease them to tenants at an affordable rate for five years. Housing New Mexico on Monday announced a pilot program to make more affordable rental properties available for tenants on rental assistance by offering forgivable loans to landlords to improve them. The Rehab-2-Rental program is offering forgivable loans of up to $25,000 to landlords who currently lease or agree to lease their properties to renters who hold tenant-based housing vouchers like Section 8, Linkages and local government rental assistance, according to a news release. The landlords would use the loan money to pay for needed improvements to rental units to make them ready to rent, the news release states. Housing New Mexico's Board of Directors in February approved $656,000 for the program. According to the notice of funding, landlords must commit to offering the lease at a rate affordable to the tenant for five years, and must commit to meeting the real estate inspection standards set by the U.S. Department of Housing and Urban Development. 'Whether it's single-family homes or rental properties, New Mexico is in great need of affordable housing for its residents,' Housing New Mexico Executive Director and CEO Isidoro Hernandez said in a statement. 'This program is a win-win in that it will help landlords with funding to bring rentals up to standards and will provide more opportunities for affordable housing in the state.' According to the news release, private companies, public housing authorities and others are eligible to apply by submitting rehabilitation projects on behalf of private landlords. There will be an informational webinar for applicants online at 11 a.m. on Wednesday, April 2. The link to the webinar is here. It will be recorded for those who can't attend.
Yahoo
25-03-2025
- Business
- Yahoo
Housing New Mexico launches program aiming to increase affordable housing
NEW MEXICO (KRQE) — A program aiming to increase affordable housing is coming to the Land of Enchantment. Housing New Mexico has partnered with the New Mexico Department of Finance and Administration to launch 'Rehab-2-Rental.' The board of directors for Housing New Mexico approved the Notice of Funding Availability for $656,000 at a February meeting. One major goal is to create higher-quality home options for tenants using housing-based vouchers, such as Section 8 and Linkages, as well as municipal and county rental assistance. The program offers forgivable loans of up to $25,000 per unit to landlords either leasing or agreeing to lease their properties to housing voucher holders. Housing New Mexico says these loans will help with necessary improvements to the rental units. Albuquerque mayor files complaint against city council over AFR staffing ordinance 'Whether it's single-family homes or rental properties, New Mexico is in great need of affordable housing for its residents,' Housing New Mexico Executive Director and CEO Isidoro Hernandez said in a news release on Tuesday. 'This program is a win-win in that it will help landlords with funding to bring rentals up to standards and will provide more opportunities for affordable housing in the state.' Housing partners are currently being invited to submit applications to become service providers. Those service providers will work with public housing authorities and other governmental agencies offering vouchers to submit house rehabilitation projects for private landlords. Eligible applicants should have experience and knowledge of housing assistance and property rehabilitation, including: Non-profit organizations For-profit organizations Public housing authorities Regional housing authorities Tribal governments Tribal housing agencies Applications are welcome to join a webinar on Wednesday, April 2 at 11 a.m. More information can be found online. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
30-01-2025
- Business
- Yahoo
State launches program to incentivize affordable home building
NEW MEXICO (KRQE) – The cost of a home is outpacing wage growth which means the ability to achieve homeownership has become more difficult than ever before for New Mexicans. This week, the state launched the Zero Interest Homebuilder Program which offers interest-free construction financing for contractors. The program incentivizes the development and sale of entry-level homes for low to moderate-income families. PNM recycles over 6,000 trees following holiday season These loans may be used to assist in financing a wide range of activities to increase affordable homeownership opportunities across the state. 'We are very hopeful that this sparks a lot of interest and that we get dozens of applications to be able to administer this program or to take advantage of this program and build hundreds of homes between now and the end of the year,' said Executive Director/CEO Isidoro Hernandez, Housing New Mexico MFA. Complete applications need to be made 60 days prior to a Housing New Mexico Board of Directors meeting to be considered at the meeting. Anyone with questions is asked to send an email to program manager Joshua Howe at jhowe@ Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
