Millions available through NM Preservation Loan Fund

ALBUQUERQUE, N.M. (KRQE) – New funding is now available through Housing New Mexico’s loan fund. The New Mexico Preservation Loan Fund is a flexible funding source for multifamily properties at risk of exiting the affordable housing stock.

Housing New Mexico says people can request up to $2 million to bring a property up to date by things as physical upkeep, financing for prospective owners who seek to acquire affordable multifamily projects over time, and predevelopment funding for existing Low-Income Housing Tax Credit properties pursuing re-syndication.

Those eligible include but are not limited to non-profit organizations, for-profit organizations, governmental housing agencies, entities, and instrumentalities, regional housing authorities, tribal governments and housing agencies, builders, corporations, limited liability companies, partnerhsips, joint ventures, syndicates, and associations.

More information about the New Mexico Preservation Loan Fund is available on its website. Information on Housing New Mexico’s funding opportunities for developers is available on their website.