Signed into LawFiled Jan 28, 2026
Sponsor: Parajón, Cristina
Latest Action
PASS - SGND BY GOV - Chapter 38
Mar 5, 2026
Summary
The bill establishes the New Homes for New Mexico program, run by the state mortgage finance authority, to offer interest‑free loans of up to $50,000 (or $75,000 in high‑cost counties) to eligible first‑time homebuyers. Buyers must earn less than 120 % of the area median income and use the home as their primary residence. The law also sets builder requirements, a competitive bidding process, and earmarks $25 million to fund the program.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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