ALBUQUERQUE, N.M. – Whether it was a person seeking refuge at a homeless shelter, an elderly person’s home being rehabilitated, a family renting an affordable apartment, or a person becoming a homeowner for the first time, Housing New Mexico impacted nearly 18,000 families and homes by providing $740 million in funding during its 2025 fiscal year.
“As we celebrated our 50th anniversary last year, we also celebrated all the people in New Mexico who have benefitted from our affordable housing-related programs, not only in 2025 but since Housing New Mexico’s inception in 1975,” said Housing New Mexico Executive Director/CEO Isidoro Hernandez. “There is still much work to be accomplished to help New Mexicans, and along with our nearly 400 partners, we will continue to deliver programs and services needed to provide housing opportunities.”
Fiscal year 2025 production highlights include:
- $81.6 million provided to produce 1,518 homes
- $16.8 million provided to preserve 739 homes
- $583.2 million provided in first mortgage and down payment assistance to 2,287 families
- $58.2 million provided for housing stability to 13,152 people and families
- $739.8 million in total funding for affordable housing, impacting 17,696 families and homes
In Housing New Mexico’s multifamily development pipeline, there are currently 5,365 apartment homes at various stages of development representing 55 different housing communities. These developments are located in 18 municipalities in 14 counties across the state, and the total funding from tax credits, bonds, loans and grants is $418 million.
From creating more housing to preserving existing affordable housing, and from creating stable housing environments to creating homeownership and wealth-building opportunities, Housing New Mexico served people in 32 of 33 counties across the housing continuum during its most recent fiscal year, which began Oct. 1, 2024, and ended Sept. 30, 2025.
Tucumcari resident Gloria Mavrick’s home was rehabilitated as part of Housing New Mexico’s Home Improvement Program, a direct-services program that is part of the HOME Rehabilitation Program, which provides repairs to bring the home up to code or accessibility modifications for low-to-moderate income homeowners who lack the resources to do so.
“This experience for me was really great, and I have to say good stuff about this program, because it’s the best program you could ever find,” said Mavrick. “I would like to thank Housing New Mexico. The people that you work with, the people that come and do your house and help you and understand everything, that’s the greatest thing. They did a great job on my house, and it’s so much better than it was before. And I am so grateful to all of them.”
David and Valerie Ramirez in Belen achieved the dream of homeownership with the help of one of Housing New Mexico’s homebuyer programs after living in their car.
“Before we bought our home, we were going through some struggles in our life,” said David. “We were homeless for many years, living in our car. When we finally defeated that, we were stuck in renting.” Valerie said they tried a couple of times to purchase a home but were given the run-around and were not getting anywhere. After learning about Housing New Mexico’s programs, the Ramirezes were approved for a loan. “Within three months, we were in our home,” said Valerie. “Being able to buy this home, it’s our dream come true. We’re so blessed to have a home to call our own. We’re paying our mortgage. I would recommend this company to anyone. It’s been a life-changer for us.” David said he is thankful for Housing New Mexico’s team, the lender and the REALTOR who helped facilitate a smooth transition into homeownership.
These are but two stories of Housing New Mexico’s impact in fiscal year 2025. To view the annual report in its entirety, visit housingnm.org/about-mfa/financials.
Housing New Mexico, otherwise known as New Mexico Mortgage Finance Authority (MFA), was created in 1975 by the New Mexico State Legislature to provide quality affordable housing opportunities for all New Mexico residents. As the state’s housing authority, Housing New Mexico uses housing bonds, tax credits and other federal, state and private resources to fund more than 40 housing programs. In addition to funding the construction and rehabilitation of affordable housing and rental properties, Housing New Mexico’s programs include down payment assistance, homelessness prevention and emergency shelter, weatherization services, rental assistance and housing for people with special needs which have provided over 505,000 families with affordable housing and services since its inception.
To learn more about Housing New Mexico, visit housingnm.org.
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