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◀︎return to newslistFederal Grant to New Mexico’s Homewise Will Increase Home Purchase and Lending Options Available to Low Income New Mexicans

December 21, 2021 – 

(Albuquerque, NM) – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) recently announced it has awarded 265 Community Development Financial Institutions (CDFIs) $180.3 million in Financial Assistance (FA) awards including $690,000 to New Mexico’s Homewise. The awards will enable CDFIs such as Homewise to increase lending and investment activity in low-income and economically distressed communities.

The financial institutions receiving the FY 2021 CDFI Program and NACA Program Financial Assistance awards this year include 149 loan funds, 67 credit unions, 44 depository institutions and holding companies, and five venture capital funds.

Homewise received both a $590,000 Base Financial Assistance (Base-FA) and a $100,000 Persistent Poverty Counties-Financial Assistance (PPC-FA) Award. Learn more about the awards here.

Homewise will use the grant to provide down payment assistance to low income homebuyers. This assistance allows homebuyers to use the funds toward the down payment of their home.

“These funds will allow Homewise to continue to adapt to our state’s changing economic conditions and provide lending products that will help New Mexicans build long-term financial wellbeing through affordable and accessible homeownership,” said Mike Loftin, Chief Executive Officer for Homewise.

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About Homewise
Homewise is a New Mexico-based nonprofit Community Development Financial Institution (CDFI) founded in 1986. Our 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. Our services include financial literacy education and coaching, real estate services, affordable mortgage lending and down payment assistance, loan servicing, refinance and home improvement lending. We strengthen 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 our financial capability and homebuyer education workshops. During that time, we’ve helped over 5,600 New Mexicans purchase homes, over 2,300 make energy efficient home improvements, and more than 800 refinance their mortgages. We’ve also built over 800 high quality, energy efficient and affordable homes. To learn more, visit our website at www.homewise.org

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