New Mexico’s Los Alamos County Offers Home Purchase and Improvement Options
Paramnam, an employee at Los Alamos National Laboratory (LANL), and their family embarked on a journey to find a suitable home in Los Alamos. After an extensive search, they stumbled upon a fixer-upper that seemed like a perfect match. However, like many young families with multiple children, the Khalsas faced the common hurdle of accumulating enough savings for the substantial down payment typically required for a mortgage loan. This financial challenge was further compounded by their growing family needs.
Recognizing their predicament, Kelly McReynolds from Guardian Mortgage stepped in with a valuable suggestion. McReynolds advised the Khalsas to reach out to the Los Alamos Housing Partnership (LAHP) and explore the possibility of obtaining down payment assistance through the Homebuyer Assistance Program (HAP). This program, designed to aid families like the Khalsas, could provide the necessary financial boost to make their homeownership dream a reality.
Encouraged by this advice, the Khalsas applied for the program. Their application was successful, leading them to close the deal on their first home, a significant milestone for the family. However, their journey didn’t end there. Two years down the line, with their family expanding and a fourth child on the way, they encountered a new challenge: a leaky roof that threatened the comfort and safety of their home.
Once again, the Khalsas turned to local resources for help. This time, they secured loan assistance from the County Home Renewal Program (HRP), which provided the necessary funds to address the roofing issue. The repair work, expertly handled by the crew from Los Alamos Construction LLC, ensured that their home was safe and comfortable for the growing family.
Reflecting on their experience, Adi Khalsa expressed profound gratitude for the support provided by the County and LAHP. These programs not only enabled them to purchase their home but also to maintain and improve it, significantly enhancing their quality of life.
Steve Brugger, the Executive Director of LAHP, highlighted the impact of these programs. To date, 96 loans have been issued under both the Home Renewal Program and the Homebuyer Assistance Program. This figure doesn’t even include the additional grants provided to extremely low-income households under the New Mexico Energy Smart program, facilitated by LAHP.
Brugger expressed his gratitude for the County’s funding and support, which allowed LAHP to create and manage the HRP and HAP on behalf of the County. Over the past eight and a half years, these programs have made a substantial difference in the community. The HRP has issued 62 loans totaling $1,320,246, while the HAP has provided 34 loans amounting to $640,627. Of these, LAHP itself has directly made 14 loans, amounting to $130,095, demonstrating its commitment to fostering homeownership and home improvement in the community.
