Opening Doors to Homeownership and Rental Opportunities
The Office of Housing invests in programs that make it easier for New Mexicans to find and keep housing, whether that means buying a first home or finding a landlord willing to rent to voucher holders and others facing barriers. These programs tackle two of the most common challenges to housing access: the upfront cost of purchasing a home and the difficulty of securing rental housing with limited income or a history of homelessness.
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Closing Costs and Downpayment Assistance
Investment: $300,000
Partner: Gallup Housing Authority
Focus: Homeownership assistance
About the Project:
The Down Payment and Closing Cost Assistance Program supports first-time and moderate-income homebuyers who are ready to purchase homes developed by the Gallup Housing Authority. Funds help cover closing costs and down payments, reducing the financial burden that often prevents families from achieving homeownership.
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Landlord Risk Mitigation Program
Investment: $100,000
Partners: City of Las Cruces, Community of Hope
Focus: Rental Housing Access
About the Project:
The Landlord Risk Mitigation Program encourages property owners to accept housing vouchers and rent to tenants who may otherwise face barriers, including individuals exiting homelessness or incarceration.
The program reimburses landlords for property damage or lost rent, reducing financial risk and helping keep units available to low-income renters. By strengthening trust between landlords, tenants, and service providers, this initiative expands housing options for residents across southern New Mexico.