MFA opens another round of funding to provide rent and mortgage assistance to New Mexicans impacted by COVID-19
ALBUQUERQUE: The New Mexico Mortgage Finance Authority (MFA) is again accepting applications for its COVID-19 Housing Cost Assistance Program. The program offers grants to cover housing costs for households that have been impacted by the COVID-19 health crisis. The grants do not need to be repaid.
For this round of funding, applicants do not need to be delinquent on their rent or mortgage payments in order to qualify. They do, however, need to certify that they have had a COVID-19-related hardship. The cost assistance program is available to households earning 80 percent or less of their area’s median income and to households of all incomes that live on tribal lands in New Mexico. Complete income guidelines can be found here.
Recipients can receive payments of up to $1,500 a month for as many as three consecutive months through the COVID-19 Housing Cost Assistance Program. MFA will make payments directly to landlords, servicers, escrow companies and other housing providers on behalf of eligible applicants to cover rental, mortgage, real estate contract or mobile/manufactured home payments.
This is the third time MFA has offered housing cost assistance to New Mexico residents since November 2020. In all, MFA has helped more than 5,200 households with their rent and mortgage payments, ensuring that these families stay securely housed during the pandemic and beyond.
