Opportunity Enterprise – Housing Development Program
The Opportunity Enterprise – Housing Development Program funds research-backed workforce and affordable housing construction in New Mexico, with a focus on rural and middle-income needs.
Funder: New Mexico Finance Authority
Due Dates: May 12, 2026 (Round 5 Part One) | May 14, 2026 (Round 5) | October 3, 2026 (Round 6 Part One) | October 5, 2026 (Round 6) | January 5, 2027 (Round 7 Part One) | January 7, 2027 (Round 7)
Funding Amounts: Loans up to $15 million per project; fixed interest rates (2% for rural/for-sale workforce, 4% for others); terms up to 30 years (preference for ≤20 years).
Summary: Provides loans for construction of workforce housing and infrastructure for affordable housing projects in New Mexico, with emphasis on rural and middle-income needs.
Key Information: Part One of the application is due 2 days before each round’s deadline; current rounds are limited to rural projects (population under 60,000).
Description
The Opportunity Enterprise – Housing Development Program, administered by the New Mexico Finance Authority (NMFA), offers low-interest loans to support the construction of workforce housing and the development of infrastructure for affordable housing throughout New Mexico. Established via HB195 (2024), the program is designed to address the state’s housing crisis by expanding the supply of attainable housing, particularly in rural communities and for middle-income workers. Funding is allocated through competitive application rounds, with projects evaluated based on need, alignment with state housing goals, project readiness, and financial feasibility. The program prioritizes projects that cannot secure sufficient funding from other sources and seeks to maximize impact and leverage private investment.
