Housing • Homeownership • Workforce • Affordability
Provide Affordable Rent and Housing
A practical homeownership plan that allows working New Mexicans to buy newly built homes at cost with zero down payment and predictable monthly payments — strengthening communities and expanding housing supply.
Homeownership should be achievable for the people who serve our communities and keep New Mexico running. This plan allows the state to sell newly built homes at cost, with zero down payment and affordable monthly payments, helping working families build equity while expanding housing supply and easing pressure on the rental market.
State to Sell New Homes @ ZERO Down and $1500 per month
Phase 1
The plan involves selling houses at cost, with a monthly payment of $1,500 and no down payment required. This proposal is not about providing free housing, but rather about making these homes accessible at cost. The 7% interest rate reflects the return the state investment council seeks to achieve through its investments. This approach offers another avenue for the state to support residents who can handle reasonable housing payments, allowing them to become homeowners with zero down payment and affordable monthly obligations.
The State will collaborate with licensed contractors and realtors across New Mexico. Phase 1 applicants will encompass all police, fire, and correctional officers, as well as teachers and eligible Native Americans.
Phase 2
Applicants will be selected based on various statewide discussions and the results of Phase 1 applicants.
As the housing market expands, the availability of rental property increases, leading to a decrease in rental costs.
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