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◀︎return to newslistHomewise and Santa Fe Public Schools Partner on Down Payment Assistance for Educators

January 28, 2022 – 

Homewise and Santa Fe Public Schools Partner on Down Payment Assistance for Educators

FOR IMMEDIATE RELEASE (Santa Fe, NM) – A partnership between Santa Fe Public Schools and Homewise will help Santa Fe Public School educators receive monetary assistance with the most significant barrier to buying a home – a down payment.

Santa Fe Public Schools Superintendent Hilario Chavez praised the support, “On behalf of SFPS educators, we appreciate the investment you are providing. This is the first step in providing the opportunity to own a home in Santa Fe for SFPS educators. By stepping up to the table and making a strong commitment by providing the assistance our educators need during these tough times. Thank you, Homewise!”

The program makes $400,000 available in up to $40,000 increments per potential homeowner.  It is open to all Santa Fe Public Schools educators who meet eligibility requirements until available funding is exhausted.

“Educators invest so much into our community”, said District 4 City Councilor, former teacher and principal, and current director of special education programs at SFPS.  “Teachers create positive relationships with our youth; they educate, listen, nurture, and build our youth up to promote their successful future.  I think it is time we stand up for our educators. This is a step in showing them they are appreciated, valued, and essential to our community.”

The funds come from a contribution by an anonymous donor to establish the Jing Lyman Educator Down Payment Assistance Fund. Lyman was often referred to as the first lady of Stanford University from 1970 to 1980 and was instrumental in founding the Clayman Institute for Gender Research at Stanford.  She was fierce advocate for affordable housing, serving on the board of the national housing organization, Enterprise Foundation (now Enterprise Community Partners).  She introduced Homewise CEO, Mike Loftin, to the anonymous donor nearly 30 years ago.

“With median home prices above $600,000, many SFPS teachers can’t afford to live in the same town where they work,” said Mike Loftin, CEO of Homewise. “This program will allow teachers to purchase a home in Santa Fe giving them greater housing stability and the opportunity to build wealth.”

Down payment assistance programs allow potential homeowners to reduce the amount needed on a down payment on a new home. In this case, any educator could see their down payment amount reduced as much as $40,000.

Santa Fe School Board President Kate Noble celebrated the establishment of this partnership with Homewise saying, “With this commitment, we have an incredible boost for our work to make housing affordable for all educators in Santa Fe. We need to consider all needs and types of housing, and we hugely appreciate Homewise and other crucial partners in this effort. Let’s use the momentum of this funding and keep going as fast as we can. Our educators are in crisis and every dollar helps!”

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About Homewise

Homewise is a New Mexico-based nonprofit Community Development Financial Institution (CDFI) founded in 1986. Its mission is to help create successful homeowners and strengthen neighborhoods so that individuals and families can improve their long-term financial wellbeing and quality of life. Homewise services include financial literacy education and coaching, real estate services, affordable mortgage lending and down payment assistance, loan servicing, refinance and home improvement lending. Homewise strengthens neighborhoods by increasing homeownership through real estate development, property rehabilitation, and revitalizing communities to benefit existing residents. Since Homewise was founded in 1986, over 17,000 New Mexicans have attended its financial capability and homebuyer education workshops. During that time, Homewise helped over 5,600 New Mexicans purchase homes, over 2,300 make energy efficient home improvements, and more than 800 refinance their mortgages. Homewise has also built over 800 high quality, energy efficient and affordable homes. To learn more, visit at www.homewise.org

 

 

About Santa Fe Public Schools

Santa Fe Public Schools does not discriminate on the basis of race, color, national origin, gender identity, sexual orientation, HIV status, marital status, pregnancy, sex, disability, or age in its programs and activities and provides equal access to the Boy Scouts and other designated youth groups. The following individuals have been designated to handle inquiries regarding the nondiscrimination policies for the district:
Title IX Coordinator- 2195 W. Zia Rd., Santa Fe, NM 87505, Tel. 505-467-3400
Section 504 Coordinator- 1300 Camino Sierra Vista, Santa Fe, NM 87505 Tel. 505-467-2527

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