As Independence Day quickly approaches, we want to break down what the American Dream is and the role homeownership plays in it.  

The American Dream is the belief that anyone, regardless of where they were born or what class they were born into, can attain their own version of success in a society in where upward mobility is possible for everyone. The American Dream is believed to be achieved through sacrifice, risk-taking, and hard work, rather than by chance (ref).  

Homeownership has long been accepted as a core component of the American Dream because of its economic benefits like building wealth and reducing housing costs (ref). In fact, Bankrate’s 2023 Financial Security survey found that 74% of Americans still consider homeownership a key component of the American Dream. Respondents valued homeownership more than any other indicator of economic stability, including a comfortable retirement, a successful career, and a college degree (ref).  

88% of non-homeowners surveyed want a home, but they feel like it is too tough to afford right now with the top hurdles being not enough income, home prices that are too high, and the inability to afford down payment and closing costs (ref).  

We aim to either address or remove these barriers to homeownership to help make the American Dream a reality for every New Mexican. Here are 6 innovative ways that we are making it accessible and affordable: 

  • Building high-quality homes to increase the supply of affordable housing. 40% of the Miraflores homes, our newest Homewise Homes® community, will be sold at affordable prices (this is double the City of Santa Fe’s requirement of 20%) to households with incomes ranging from 50% to 120% of Santa Fe’s median income. 
  • Offering free one-on-one financial coaching. Our Home Purchase Advisors look at each client’s unique financial situation and come up with a concrete plan of steps they need to take for us to pre-qualify them. Whether it takes years or months, our Home Purchase Advisors are there for our clients as they work to pay off debt, improve their credit, build their savings, etc.  
  • Combining funds from a variety of homebuyer assistance programs to help qualifying homebuyers meet their homeownership goals.  A wide variety of government and charitable programs exist to help low-and moderate-income homebuyers. Our Home Purchase Advisors research all assistance programs your household may be eligible for and can create a “stack” of funds from multiple programs to meet your needs. 
  • Requiring a low down payment. Instead of 20%, we only require most of our clients to put down 2%, and sometimes even less. This alone opens up the possibility of homeownership for so many people.  
  • Removing monthly mortgage insurance. When buyers put less than 20% down, most lenders will charge mortgage insurance, which can equate to hundreds of dollars per month. We have removed this to help make homeownership more affordable.  
  • Rolling all closing costs into the loan. This ensures that our clients can close on their loans without having to come up with additional money for closing in most cases. 


While these innovations are impactful on paper, our clients and their stories really bring them to life. From single moms to teachers to immigrants, we help people from all backgrounds and circumstances achieve their American Dream.  

Stephanie, a single mom of five kids and medical lab technician for TriCore, had been living in an apartment for four years when she found us. She and her kids dreamed of a home with a yard where they could garden together, but months of searching hadn’t led to the right home for them. That’s when her Homewise Realtor® Rose introduced her to another client, Victoria, who wanted to sell her home to someone looking to put roots down. After they met, Victoria sold her home to Stephanie at a price she could afford. Stephanie encourages anyone interested in buying a home—even if they are not financially ready—to get involved with the Homewise program. “Just start the process by talking with an advisor,” she says, “and Homewise will help you with all the rest.”   

Read more of Stephanie’s incredible story on our blog. 

Andrew was born and raised in Albuquerque and now teaches New Mexico History and Health classes at Albuquerque High School. He wanted a fixer-upper, and when he found out we owned this home as part of our Acquisition Rehab Program, he reached out to buy it so he could renovate it himself. Now, he is a proud homeowner who spends his free time bringing this home back to life. “For me, it was about making an investment: an investment in myself, an investment in my community, and in my city.” 

Check out Andrew’s full story on our blog. 

Jean Marie, Renilida, and their four children immigrated to Albuquerque from Tanzania, a country in East Africa, seven years ago. After working with Lutheran Family Services (LFS) to find jobs and a place to rent, they were introduced to us and met Ambrose, a Homewise Realtor®. They attended free financial classes, worked with a Home Purchase Advisor, and eventually became homeowners! “A lot of clients are nervous about their first home purchase,” noted Ambrose, “but not Jean Marie. He is very driven and embraced the opportunity to borrow money for a home whole-heartedly.”   

Learn more about their story on our blog.  

We hope that these stories are inspiring and demonstrate the important role of our services in keeping the American Dream alive! If you or someone you know is interested in becoming a homeowner, fill out an initial application to get started.