NM housing authority agrees to spend $5M on buying down interest rates for new homebuyers

The Mortgage Finance Authority approved the launch of a pilot program helping roughly 400 homebuyers see 1% interest rate reductions.

By: Patrick Lohmann

Outlets: Source New Mexico

Published: April 15, 2026

Words: 472

Last Updated: 3 months, 2 weeks ago

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The New Mexico Mortgage Finance Authority on Wednesday agreed to direct $5 million of recent legislative funding toward reducing interest rates for low- and middle-income homebuyers, a move officials hope will spur more housing development.

The authority, also known as Housing New Mexico, received roughly $50 million during the recent legislative session toward its Affordable Housing Trust Fund, which historically has provided down-payment assistance, as well as other grants and low-interest loans, for low-income …

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