New Mexico

New Mexico Mortgage Finance Authority (MFA), branded 'Housing New Mexico', is the state's quasi-public housing finance agency administering 35+ state and federal programs. As of 2026-04-26 MFA does not operate an ADU-specific homeowner loan or grant product. ADU construction or rehab can be financed indirectly through MFA's homebuyer programs (FirstHome 30-year fixed first mortgage for first-time buyers; HomeNow first mortgage with up to $7,000 down-payment / closing-cost assistance forgivable after 10 years; NextHome for non-first-time buyers with $7,000 grant) when the underlying primary-residence transaction qualifies. MFA's HERO Program (Healthcare, Education, Police/Public Safety, and 'Other' essential workers) provides reduced-rate first-mortgage financing. Several MFA Single-Family rehab programs (Energy$mart, Weatherization, HomeForward) can fund ADU-adjacent rehab work when the project meets program criteria. None of these is ADU-specific.

• MFA FirstHome
• MFA HomeNow Down Payment Assistance
• MFA NextHome
• MFA HERO Program

New Mexico operates the New Mexico FAIR Plan (formally the New Mexico Property Insurance Program), administered under the New Mexico FAIR Plan Act (NMSA 1978 ch. 59A art. 29) and overseen by the New Mexico Office of the Superintendent of Insurance (OSI). The FAIR Plan is the residual market insurer for property owners unable to obtain coverage in the voluntary market. Wildfire risk has driven dramatic FAIR Plan utilization growth in northern New Mexico (Mora, San Miguel, Taos, Rio Arriba, Santa Fe County mountainous areas, and Lincoln/Otero County south-central). In 2025 OSI took two coverage-limit actions: (1) March 2025 interim approval to raise residential FAIR Plan policy limits in wildfire-prone areas statewide, then (2) approved Superintendent Alice Kane's increase of maximum residential FAIR Plan limits from $350,000 to $750,000, and an October 2025 increase of commercial limits from $1M to $2M. OSI also signaled that meeting Insurance Institute for Business & Home Safety (IBHS) Wildfire Prepared Home standards would become mandatory to remain in the FAIR Plan, and is overseeing distribution of $10M in mitigation grants. ADUs in WUI New Mexico inherit the primary dwelling's wildfire underwriting; FAIR Plan ADU coverage typically rides on the primary policy as 'other structures' with the same WUI eligibility constraints.

New Mexico does not operate a statewide pre-approved ADU plan catalog, statewide impact-fee waiver statute, or per-ADU rebate / incentive program as of 2026-04-26. The state's ADU programmatic posture leans on (a) the New Mexico Housing Trust Fund administered by MFA — funding affordable housing development including some ADU-style infill — and (b) the OSI's $10M wildfire-mitigation grant program for FAIR Plan-eligible structures, which can support hardening measures on ADUs in WUI areas. Governor Lujan Grisham's 2025-2026 housing initiative has emphasized infill and missing-middle (HB 17 pending in 2026); the Office of Housing within the New Mexico Department of Finance and Administration coordinates state-level housing policy across MFA, OSI, and DFA. Locally, City of Albuquerque operates an ADU promotion microsite (https://www.cabq.gov/planning/accessory-dwelling-unit) and Santa Fe County maintains a comprehensive ADU permit checklist; neither is a state program.

• New Mexico Housing Trust Fund
• OSI Wildfire-Mitigation Grants ($10M, ongoing)
• New Mexico Office of Housing