fbpx

◀︎return to newslist483 New Mexican Families Find their Path to Homeownership with Homewise

July 14, 2016 – 

Homewise, a nonprofit organization that offers a path to homeownership through education and lending, has released its 2016 Annual Report that showed it helped 483 families and individuals become homeowners in and around Santa Fe, Albuquerque and Rio Rancho last fiscal year. The organization also helped 101 current homeowners save money by refinancing their mortgage or investing in their home through energy-savings home improvements, according to the report.

“As we celebrate our 30th year, it’s a good time to pause and look at the work we’ve done and the positive impact made for individuals, families, and our communities,” says Mike Loftin, Chief Executive Officer. Homewise broke down the demographics of its clients, which showed most were single adults, followed by single parent families, then married couples with children and finally married couples without children. The data also showed most of its clients were between 25-34 years old, followed by those in the 35-44 age bracket.

The organization also teaches financial literacy to help families understand how they can save money toward a down payment on a house. Homewise reported 1,015 people attended their financial workshops last year.

Homewise also develops new communities throughout Santa Fe, building 40 high-quality, affordable Homewise Homes last year. Most recently, the organization launched their 40-home project at Oshara Village near Santa Fe Community College. Soon they will break ground on their next development project at Corazon Santos at Agua Fria and Harrison Roads in Santa Fe.

Another highlight for the organization was the launch of the New Americans Lending Program, which offers those without a social security number a fixed-rate, affordable mortgage option to help break down the traditional barriers to accessing financing to buy a home.

A major focus for Homewise in the coming year will be to help support the revitalization of Albuquerque’s historic but vulnerable neighborhoods. Many of these neighborhoods have experienced disinvestment which threatens to displace existing residents, makes it difficult for families to find a home, and causes instability in the community. By developing and supporting homeowners through financial education and affordable lending, the organization aims to help stabilize home values and revitalize these core neighborhoods that are at a critical turning point between destabilization and vibrancy.

About Homewise
Homewise Inc. is a nonprofit organization that works throughout New Mexico with a mission to help create successful homeowners so that they improve their financial wellbeing and contribute to the vitality of our communities. Homewise empowers and supports clients on their path to homeownership with financial education and coaching, non-commissioned real estate services, affordable mortgage lending and down payment assistance, and refinance and home improvement lending. Homewise also develops new homes in the community to increase the inventory of affordably priced homes for the local workforce. These homes are built to the highest standards, embracing quality, value, and energy efficiency.

Share