With down payments as low as 2% and no private mortgage insurance required, a Homewise home loan is built to keep your monthly costs as low as possible. We’ve been helping New Mexicans in Albuquerque, Santa Fe, Las Cruces, Hobbs, Carlsbad, Alamogordo, and everywhere else in the state to buy homes they can afford since 1986.
Our Home Purchase Advisors and Loan Officers will guide you through every step of the process, from understanding what you qualify for to closing on your new home.
A better mortgage with no private mortgage insurance
Most lenders require private mortgage insurance (PMI) if you put less than 20% down. On a $250,000 home, that can add around $250 per month to your payment. Over the life of a 30-year loan, that’s $90,000 out of your pocket.
Homewise eliminates PMI entirely. The typical Homewise buyer puts down as little as 2% of the purchase price and pays zero mortgage insurance. That’s a meaningful difference in your monthly payment from day one.
Low down payment
mortgage options
You don’t need a large down payment to buy a home with Homewise. Our Home Purchase Advisors will work with you to find the best financing package available, including special mortgage programs with lower interest rates than are typically available on the open market.
Many of these programs are specifically designed for first-time homebuyers, but we are also happy to work with people who already own a home.
Down payment assistance programs
Many New Mexico homebuyers qualify for down payment assistance that makes buying a home even more affordable. These programs vary, some are available statewide, some are specific to Albuquerque or Santa Fe, and others target certain professionals like teachers and first responders. Funding availability also changes over time as programs fill up, or new ones become available.
Homewise Home Purchase Advisors stay up to date with every available program and will make sure you have access to every option you qualify for.
A step-by-step process
Homewise takes a different approach to mortgage lending. Rather than starting with a loan application, we start with a conversation. Your Home Purchase Advisor will review your financial situation, including your income, savings, debt, and credit history, and work with you until they can qualify you for the best financing Homewise can find.
The result is a Buyer Ready Certificate that outlines your purchasing power, mortgage program, interest rate, and any homebuyer assistance you’re eligible for. From there, a Homewise Realtor® can help you find a home that fits your budget, and a Homewise Loan Originator will handle your final financing package through to close. You’re also welcome to work with the realtor of your choice.
Serving homebuyers across New Mexico
Homewise has been helping New Mexicans buy homes since 1986, with offices in Albuquerque and Santa Fe. We serve homebuyers across New Mexico including Albuquerque, Rio Rancho, Santa Fe, Las Cruces, Hobbs, Carlsbad, Alamogordo, and everywhere else in the state.
Why choose Homewise for your home loan
- No private mortgage insurance, even with as little as 2% down
- Access to special mortgage programs with below-market interest rates
- Down payment assistance programs for qualifying buyers
- Salaried, non-commissioned Home Purchase Advisors and Loan Officers focused on finding the best financing for you
- Integrated real estate services, find and finance your home in one place
- Nonprofit lender serving New Mexico since 1986
ALBUQUERQUE OFFICE
500 2nd Street SW
Albuquerque, NM 87102
PHONE: 505-243-6566
SANTA FE OFFICE
1301 Siler Road, Bldg D
Santa Fe, NM 87507
PHONE: 505-983-9473EMAIL:
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