The mission of the Affordable Housing Program is to provide increased affordable housing opportunities to workforce families living within the northern and central area of the county. A broad range of income levels for current and future residents will be served, not to exceed 120 percent of the area median income, (120 percent of the AMI for a household of four people is
Developers may access the Sustainable Land Development Code (SLDC) Chapter 13 for details pertaining to specific requirements for the development and construction of affordable housing units.
• Developer Subsidy is available up to $10,000 per affordable unit
• Future projects include up to 250 new homes to be built over the next 5 to 10 years
Current homeownership opportunities are being served in the following developments;
Down Payment Assistance for homebuyers is available, up to $20,000 per household
Foreclosure Prevention Policy; Santa Fe County will take the following actions, in the following order, as appropriate:
• Refinancing. Staff, with permission of the owner, may evaluate the owner's existing income and credit to determine if the mortgage may be refinanced to lower the monthly mortgage payment.
• Loan Modification. If it is not possible to refinance the transaction to lower the monthly payment, staff shall facilitate additional discussions with the owner and a lender to obtain loan modification to allow the owner to remain in the affordable home.
• Mortgage Assistance. If it not possible to refinance or to obtain loan modification, staff may grant emergency mortgage assistance to remedy a hardship such as a loss of income or medical emergency.
• Voluntary Sale. In the event that none of the previous options are successful, staff may work with the owner to seek a voluntary sale of the affordable home, as appropriate, to another affordable buyer within the same income range as applied to the owner when the unit was originally purchased, prior to foreclosure.
• Purchase. In the event that none of the previous options are successful, staff may consider proposing the purchase of the affordable unit either by exercising its right of first refusal, directly from the owner through a negotiated sale, or through a foreclosure sale
For more information regarding programs and services please contact the Affordable Housing Administrator responsible for oversight of the Affordable Housing Program.
Affordable Housing Specialist
Rosemary L. Bailey