$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 ].

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 - updated September 2011

FHLB Funding Manual Forms - this is a reader enabled PDF; if you have the latest version of Adobe Reader, you should be able to fill out this manual and save a fillable copy on your computer.

•Member and Project Sponsor Certification
•Request for Disbursement of Funds
•Residential Funding Record
•Household Income Certification Form
•Income Calculation
•Loan Certification Form
•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: 7.07
  - 20 year: 7.38
  - 25 year: 7.55
  - 30 year: 7.65

•First Time Homebuyer's Attestation - the borrower must sign this form
•Security Agreement
•Deed Restrictions - updated as of January 2011
•HUD-1 - please make sure FHLB funds are noted as FHLB grant, $8,000

In addition to the above forms, FHLB is also requiring the following:

•Income Calculator - click on bottom lefthand tab for 1 borrower or 2 borrowers
• 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.
• Documentation of Land Value – if land was donated, provide a) proof of donation (such as the deed) and b) property tax valuation.  If land was not donated, provide a) proof of cost of land (i.e. how much the affiliate paid) and b) property tax valuation.  Most county assessor's offices have websites to look up the property valuation.  Otherwise, your affiliate should have a copy of the tax bill.