New Mexico Mortgage Finance Authority Board of Directors approved modifying the 2016 QAP to return fees to the 2015 QAP levels. The governor approved the 2016 QAP.

  1. The only changes made to the previously posted QAP are:
  2. Application fee: reduced from $3,500 to $500 for nonprofit/governmental entity; $1,000 for profits (same as 2015) (page31)
  3. Processing fee: (page 32)
    • For 9 percent credits reduced from 8 percent to 7.5 percent of allocation (same as 2015)
    • Projects financed with tax exempt bonds (i.e. 4 percent credits): reduced from 5.5 percent to 3.5 percent of allocation (same as 2015)
  4. Extension fee: reduced from $1,000 to $500 (same as 2015) (page 33)
  5. Other changes to the LIHTC portion of the website:
  6. The 2016 application package downloadable document entitled “1. TC Application Checklist” item 1d was changed to reflect the revised fees.
  7. The “2016 HOME/LIHTC Term Sheet” was added.
  8. The “2016 Underwriting Supplement” was added.

C.  If you plan to later request rental loans such as HOME, Housing Trust Fund, etc. please use the updated “Checklist” that will be posted no later than 12/31/15 for each loan program at http://www.housingnm.org/developers/mfa-developers.