Funding Available for Los Alamos County Residents: Homebuyer Downpayment Assistance and Home Renewal Loans
Los Alamos County, New Mexico is excited to announce the availability of two programs aimed at improving housing situations for its residents. Whether you’re looking to buy a home and need help with the downpayment or require funds for essential home repairs, the Homebuyer Assistance and Home Renewal Programs are here to assist you. These programs are managed by the Los Alamos Housing Partnership (LAHP), and applications are being accepted on a first-come, first-served basis while funding lasts.
The Homebuyer Assistance Program provides qualified homebuyers with down payment assistance from the County and other sources. Eligible applicants can receive up to $25,000 in assistance. What’s more, there are no monthly payments required on the loan until the home is sold, vacated, or the title is transferred. Additionally, the program offers valuable resources such as homebuyer education, assistance in finding mortgage providers, and guidance through the mortgage application process. To qualify, applicants must meet certain criteria, including purchasing a home in Los Alamos County, having a credit score above 620, and maintaining a debt-to-income ratio of 45%.
For homeowners in need of repairs, the Home Renewal Program (HRP) is available. Also administered by the Los Alamos Housing Partnership (LAHP) in collaboration with Los Alamos County, HRP allows income-qualified homeowners to enhance their homes for increased comfort, safety, and livability, all without adding to their monthly expenses. Through the program, homeowners can receive up to $45,000 in assistance. Like the Homebuyer Assistance Program, no monthly payments are required until the home is sold, vacated, or the title is transferred. This program is especially beneficial for those looking to invest in significant and necessary improvements that can boost the value of their home and the overall neighborhood.
The LAHP staff is committed to ensuring the success of each project and offers comprehensive support throughout the process. They assist homeowners in defining the scope of work, establishing a budget, and preparing a bid package for review by the homeowner and prospective contractor. Additionally, they provide guidance in contractor selection, review the work, and handle draw requests and project closeout.
“These programs have income restrictions, with the maximum income adjusted based on household size. Currently, the maximum income for a household of four is $114,320, and income limits are adjusted annually,” explained LAHP Executive Director Steve Brugger.
Paul Andrus, Director of the Los Alamos County Community Development Department, emphasized the importance of these programs in fulfilling the County’s mission to provide a range of housing options for its growing population. These initiatives aim to maintain existing housing options while helping lower-income households achieve homeownership.
To access applications and obtain more information about the programs, visit the Los Alamos Housing Partnership’s website at www.losalamoshousingpartnership.org. If you have questions or want to schedule an appointment, reach out to LAHP Program Manager Cindy Hollabaugh at 505.570.0136 or contact the LAHP office at 505.662.8919. You can also email Cindy Hollabaugh at [email protected] or Steve Brugger at [email protected].
For additional details on Community Development programs and services, visit https://www.losalamosnm.us/government/departsments/community_development, email [email protected], or call 505.662.8116. Take advantage of these programs and enhance your housing situation today.
