New Mexico’s Rehab-2-Rental Program Offers Forgivable Loans to Landlords

Housing New Mexico, in collaboration with the New Mexico Department of Finance and Administration, has launched the Rehab-2-Rental pilot program to address the state's affordable housing shortage. This initiative provides forgivable loans of up to $25,000 per unit to landlords for rehabilitating substandard rental properties, aiming to increase the availability of quality, affordable housing. Landlords receiving these funds must commit to leasing the renovated units to tenants holding housing vouchers, ensuring that the assistance reaches those in need. The program has an allocation of $656,000, and landlords interested in participating can submit up to five project proposals at a time. 

An informational webinar about the Rehab-2-Rental program is scheduled for April 2, 2025, at 11:00 AM. Click the link to join the webinar: https://housing-nm.webex.com/housing-nm/j.php?MTID=m35b14c27a57d4a647112a66c719569ec

Learn more about the Rehab-2-Rental program from Housing New Mexico here: https://housingnm.org/programs/landlord-program/rehab-2-rental