Agency gets $3.6M for affordable housing in NM - Albuquerque Journal

Agency gets $3.6M for affordable housing in NM

The New Mexico Mortgage Finance Authority has been awarded a $3.6 million Capital Magnet Fund grant from the U.S. Department of the Treasury.

The money comes from Treasury’s Community Development Financial Institutions Fund. MFA is one of 40 grant recipients recently awarded a total of $120 million.

MFA was one of only five state housing finance agencies to receive funding, according to a news release.

MFA will use the $3.6 million award to capitalize its affordable housing fund, which provides down payment assistance to low-income homebuyers in the state. MFA is on track to see a 25 percent increase in the number of down payment assistance that has been provided in the last two calendar years.

“A record-breaking number of New Mexicans have used MFA’s down payment assistance programs to buy homes over the last two years,” said Jay Czar, executive director of MFA, in a prepared statement. “We are extremely pleased that we can now expand those programs to help even more New Mexicans become homeowners. These families will experience the financial and emotional security that comes with being a homeowner.”


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

Nativo Sponsored Content

taboola desktop

MORE ARTICLES LIKE THIS

1
Four critically injured in foothills-area crash
ABQnews Seeker
A two-vehicle crash left six people ... A two-vehicle crash left six people injured, four of them critically, Tuesday afternoon in Northeast Albuquerque. Gilbert Gallegos, an Albuquerque police spokesman, said the ...
2
City Council denies $110 million facilities plan
ABQnews Seeker
New bonds included in package would ... New bonds included in package would have taken 19 years to pay off
3
PNM, Avangrid ask to directly address PRC
Energy
Proponents say previously filed responses were ... Proponents say previously filed responses were limited in scope
4
City continues Luminaria Tour; tickets on sale Dec. 11
ABQnews Seeker
A long-standing tradition continues. The Luminaria ... A long-standing tradition continues. The Luminaria Tour is returning after a hiatus during 2020. The annual tour was started in 1955 by the Albuquerque ...
5
State accepting more types of cannabis license applications
ABQnews Seeker
New Mexico's Cannabis Control Division announced ... New Mexico's Cannabis Control Division announced Tuesday that it is now accepting license applications for all cannabis-business types, including manufacturing and retail.
6
Weapons ban, vaccine requirement greet Roundhouse visitors
ABQnews Seeker
Some were turned away Monday for ... Some were turned away Monday for lack of proof of being fully vaccinated
7
Map proposals topic of heated Capitol debate
ABQnews Seeker
Plan from citizens committee draws fire Plan from citizens committee draws fire
8
New Mexico could see snow, gusty winds
ABQnews Seeker
Snow levels will move to lower ... Snow levels will move to lower elevations in central and northern NM as Friday progresses
9
Tuesday election to settle two City Council races
2021 city election
Voters will decide Tuesday what the ... Voters will decide Tuesday what the Albuquerque City Council will look like come January as the campaign season comes to a close with a ...
10
APD investigating homicide in neighborhood off East Central
ABQnews Seeker
Homicide detectives are investigating after a ... Homicide detectives are investigating after a man was shot to death in a neighborhood near the Downs Racetrack and Casino Monday evening. Officer Daren ...