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$320000 was awarded to Habitat for Humanity of New Mexico affiliates.  $8,000 per home is available for principal reduction funding. If your affiliate is interested in utilizing this funding, please contact Becky at (505) 823-6483 or [ email ].

READ THIS BEFORE YOU ATTEMPT TO APPLY FOR THIS FUNDING:  Every time you apply for FHLB funds, please download the latest copy of the funding manual and forms directly from the FHLB website (click on Funding Manuals -> Habitat for Humanity Funding Manual).  At one time, I made MS Word forms for you to use; please do not use these forms any longer as FHLB is constantly updating the forms they want us to use.

The current project # is 2010A0906
Project Name: Habitat for Humanity of New Mexico
Project Sponsor: Habitat for Humanity of New Mexico
Member: Bank of Albuquerque
FHFB ID#: 16083/70668

FHLB Checklist

•Member and Project Sponsor Certification - do not fill this form out; this is between Habitat for Humanity of NM and Bank of Albuquerque.
•Request for Disbursement of Funds
•Residential Funding Record
•Household Income Certification Form
•Income Calculation Worksheet
•Income Calculator (Excel) - click on bottom lefthand tab for 1 borrower or 2 borrowers
•Security Agreement
•Deed Restriction - updated May 2010 (DO NOT USE THE OLDER VERSION; YOU WILL BE ASKED TO CORRECT AND RERECORD)
•HUD-1 Draft
•Comparison of Market Terms - fill out the borrower column only and do not sign the bottom
•Needs Analysis Worksheet (Excel)- Use the following market rates, depending on your loan term (updated 11/08):
  - 15 Year: 8.90
  - 20 year: 8.98
  - 25 year: 9.01
  - 30 year: 9.04
NOTE:  I do not yet know what market rates to use under our 2010 agreement.  Go ahead and use the old rates for now until I am told what rates to use.  
•First Time Homebuyer's Attestation - only one signature is required (either homeowner, Habitat for Humanity of New Mexico or Bank of Albuquerque).
 
In addition to the above forms, FHLB is also requiring the following:
• Itemized Construction Budget - click here for a sample budget.
• Copy of Floor Plan - must detail the living area, square footage, garage/carport square footage and porch square footage, if applicable.  Please submit this on regular letter sized paper (8.5x11).
• Evidence of Empowerment Services - this refers to 2 items a) the proof of Sweat Equity and b) First Time Homebuyer's Counseling. A letter signed by the affiliate or a certificate that verifies that the borrower completed both services is sufficient.
• Copies of all Notes listed on HUD-1 - draft, unsigned copies are fine.