This year’s annual report theme of ‘Transforming lives, neighborhoods and communities’ is one that resonates throughout the organization on many levels. Much of our focus this year has been to further expand the work we continue to do as part of our core strategy. This includes creating new homeowners through financial education and coaching, realtor services, and affordable mortgage lending. It also includes financing home improvements and mortgage refinancing for existing homeowners.
And now with the purchase and renovation of the Orpheum Community Hub in the Barelas neighborhood of Albuquerque, the introduction of our program to help revitalize Albuquerque’s historic and financially vulnerable neighborhoods, and the launch of El Camino Crossing, our all-solar live/work community in Santa Fe, Homewise is advancing an even more transformative and comprehensive community development strategy.
Our Albuquerque neighborhood revitalization work includes a specific focus on addressing properties that have become symbols of disinvestment and turning them around to create symbols of revitalization and hope for new homeowners and neighborhoods. And through the Orpheum Community Hub, we are contributing to the revitalization of the Barelas and surrounding neighborhoods by bringing increased affordable homeownership opportunities, arts and culture activity, and commercial development to the area.
In Santa Fe, Homewise launched our newest Homewise Homes community at El Camino Crossing. This unique all-solar community features single family homes, live/work units, and commercial space for neighborhood-friendly local businesses. With sales launched in September of 2017, we’ve already sold 38 of the 40 single family homes available and are preparing to break ground on the live/work units this summer. We will also soon be announcing some exciting commercial tenants who will be moving into the community!
We invite you to read more about these projects and more transformative stories from the people we serve in the pages of this year’s annual report. As we work each day to positively impact the lives of our neighbors and our communities, we remain deeply committed to our mission and our promise to serve as good stewards of your partnership. We thank you for your continued support of Homewise.
Chief Executive Officer
Chair, Board of Directors
Homewise by the NUMBERS
80+ employees in Santa Fe and Albuquerque
75% of staff who work directly with clients speak Spanish
Up 15% from FY2017
of free, one-on-one financial coaching in English and Spanish
$4.57M Grants and Contributions
Homewise is unique in that we are a nonprofit, but are completely self-sufficient operationally, so 100% of grants and contributions go directly to client education and providing affordable lending options.
We offer free financial fitness and homebuyer education classes in English and Spanish.
$10.98M downpayment assistance provided to qualified borrowers
1.01% 30-day mortgage delinquency rate for loans 30 days or more past due.
As of the end of FY18, a near perfect 99% of clients had paid their mortgage on time.
in loans serviced monthly
How do we impact our COMMUNITY?
You don’t have to be ready to buy a home in order to work with Homewise; we can help you get there with one-on-one coaching and group workshops. One class participant recently shared that attending a Homebuyer Education class “...was the best decision I made! I now feel more comfortable and confident about starting my journey to homeownership.”
Homeowners Patrick and Esperance are refugees from the Republic of Congo who worked with Homewise to build a new life in Albuquerque. “I save money every time I pay the mortgage,” says Patrick, “because I am investing in a home that I will be able to pass down to my children.”
Refinance and Home Improvement Loans
Greg wanted to take advantage of our New Mexico sun to provide clean, sustainable energy to his home. He was able to go solar with a home improvement loan. “Now is the time to switch to solar,” he said, “and Homewise makes it easy!”
New Homewise Homes
Alex and Kristine thought their income would prohibit them from buying a home in Santa Fe, but they were able to move into a new, 4-bedroom home in our beautiful Tessera community.
How we improve our clients’ financial wellbeing
78 point increase
Average increase for clients who started with a score under 640*
Median increase for clients who started with less than $5,000 savings*
$104 monthly decrease
Median decrease for clients who started with 10% or more debt ratio*
*clients who successfully completed the steps in their financial action plan
UNRELATED & SINGLE ADULTS
MARRIED + CHILDREN
MARRIED, NO CHILDREN
by age group
CITY, STATE & FEDERAL GOVT
The Barelas barber
of owning his own barbershop in the historic Barelas neighborhood of Albuquerque set him on the path to homeownership and community engagement.
Raul grew up in the historic Barelas neighborhood near downtown Albuquerque.
In his teenage years, he found his calling cutting hair while working at a local barbershop owned by a well-known and highly respected member of the community. The training and mentoring he received stuck with him. Raul dreamt of one day owning his own barbershop in Barelas where he could welcome people of the community and carry on the traditions of his predecessor. But just like for most of us, the demands of adult life soon took over and his dream moved to the back burner.
Over the years, Raul faced many challenges. He went through years of struggle with addiction and crime. Reflecting on his past, Raul can’t help but be thankful that he met his wife Shamrah during some of the hardest times in his life.
Raul and Shamrah went on to have three children. They lived paycheck to paycheck and money was always tight. But no matter how hard things were, Raul always looked forward to going to his son’s wrestling matches on the weekends. Seeing the passion that his son had for wrestling made the whole family want to join the fun.
As Raul’s children became increasingly enthusiastic about sports, he felt strongly that supporting their pursuits should be a priority. Raul had come to a turning point in his life; he had found his motivation for sobriety and better financial wellbeing.
Raul and Shamrah knew that owning their own home was an important step in their long-term financial security and decided to explore what it would take to become homeowners. They learned that they would need to start by working on their credit and save for a down payment.
After three years of discipline and hard work, they were ready to start looking for a home. During their search, they came across the HomeLift down payment assistance program. HomeLift provided qualified borrowers with $15,000 to use toward down payment and closing costs on their home purchase. The extra financial boost they received from the HomeLift program was enough to make homeownership a reality. They closed on their brand new home nine months later.
Today, Raul and Shamrah are saving almost $200 a month over what they used to pay in rent for a much smaller home.
The positive changes in their life brought about by homeownership didn’t stop there. With the money they had originally saved for their down payment (and were able to keep because of the HomeLift assistance), along with the money they were saving each month, Raul was finally able to turn his dream of owning his own business into a reality. Supported by his family and friends, Raul opened the Barelas Rose Barbershop just one year after becoming a homeowner.
As he establishes his business roots, Raul is also looking for ways to maximize his impact on the Barelas neighborhood. He has already turned the extra space in his barbershop into a family gym where he can watch his kids hone their athletic skills, and now he has plans to open the gym to the public and offer a free or low cost martial arts program for other children. Raul’s personal success has inspired him to create greater opportunity and vitality for an entire community.
from vacant, neglected space...
to vibrant community
El Camino Crossing has a dedicated park where families can play, relax, and socialize with neighbors. The park includes a public art installation of sculptures representing the mountain ranges of northern NM, for which the six El Camino Crossing home floorplans were named. The sculptures were created by local artist Jeff Overlie.
40single family homes
13 homes, or 33%, were sold to individuals or families of low-income.* Homewise went beyond the City of Santa Fe’s affordable housing requirement of 15% of homes, selling an additional 7 homes to low-income buyers.
*Households earning below 80% of the Area Median Income (AMI).
Still to come at El Camino Crossing...
24 live/work spaces
Our unique live/work options can accommodate various endeavors, including office space, an art/music studio, or a micro business. In addition, homes are wired with fiber optic cable for high speed internet access.
For those who are ready to downsize or prefer to live more simply, El Camino Crossing offers 1-bedroom, 705-square-foot condos.
8,000 sq ft for retail & commercial use
Local, neighborhood friendly businesses such as restaurants, coffee shops, and retail/service merchants will be at the north end of the community off Agua Fria.
Solar made simple
Homewise is committed to sustainable living. Our award winning Homewise Homes® are built with energy efficient and water-conserving features, and homes in our El Camino Crossing community come with a maintenance-free photovoltaic solar package to further help conserve energy and save money.
Homewise solar statistics:
potential average yearly savings on electric bills for El Camino Crossing homeowners*
number of households since 2010 that have converted to solar energy or made solar-related improvements through our affordable financing options.
solar loan clients who are low-to-moderate income
*based on a 4-panel 1.38kW system with the capacity to produce about 2,363kW hours per year
1.8 metric tons of carbon
This is roughly the equivalent of:
4,310 miles driven by a typical passenger vehicle
from burning 1,924 lbs of coal
Figures obtained from the EPA’s greenhouse gas equivalencies calculator.
Revitalizing our neighborhoods
In the heart of Barelas, from abandoned house...
...to a home that gives
“hope to the neighborhood.”
Moving in a Positive Direction
Homewise is contributing to neighborhood revitalization without displacement by working with new and existing homeowners to reduce vacant home inventory, stabilize home values, and turn properties that have become symbols of disinvestment into symbols of revitalization and hope.
Our revitalizing efforts have been focused on the historic Barelas and South Broadway neighborhoods in Albuquerque, where we have been acquiring disinvested properties in need of extensive rehabilitation, completing the necessary work, and offering the newly improved homes for sale to individuals and families at affordable prices.
The first renovation project was a home that sat in the heart of the Barelas neighborhood. Built in 1916, it had provided comfort and stability to generations of families. Sadly, the home had fallen into serious disrepair after being vacant for the last 4-5 years, and had become a target for drug use and other illegal activity. “We would have to call the police regularly,” noted one neighbor, who took it upon herself to pick up used syringes off the sidewalk.
Homewise purchased the home and immediately went to work on a complete overhaul. Four months and approximately $92,000 in construction costs later, the home is now beautifully restored while maintaining its unique character and aesthetic ties to its Barelas roots.
“It’s like night and day for the whole neighborhood,” said the neighbor. “We don’t have to live on high alert anymore.”
She went on to say that she loves the good energy Homewise is bringing to the area. “The neighborhood has such a cool flair and character. There are so many diverse people and cultures and we all get along well and care for each other. Homewise is helping to transform Barelas in a promising direction.”
from disinvested property...
...to Community Hub
With the Orpheum Community Hub as our Albuquerque Homeownership Center, we are positioned to create over 600 new homeowners and help more than 60 homeowners make necessary home improvements in Albuquerque over the next three years.
1,430 sq ft of space for classes & training
Allows for almost twice as many participants as we are currently able to accommodate. The space will also be offered to other organizations in the community as an arts performance venue and meeting space.
22 affordable rental apartments
will be preserved and improved as part of our renovation process. A community of artists, creative entrepreneurs, and young families make up the majority of current tenants.
Become part of the solution
We invite you to consider a unique opportunity to help New Mexican families improve their financial wellbeing by contributing to the renovation of our classroom facility at our new Albuquerque homeownership center location.
Homewise recently purchased the Orpheum Building at 2nd Street and Coal Avenue, located in the heart of the communities we most heavily assist, to serve as our Albuquerque homeownership center. The 22,000 square foot Orpheum building will allow Homewise to accomplish significant impact, not only for the surrounding historic neighborhoods, but for Albuquerque as a whole. We are embarking on a major repair and renovation project to transform the historic building into a community development hub that will help revitalize the surrounding neighborhoods and contribute to Albuquerque’s overall economic vitality.
While the added space and accessible central location of our new building will allow us to serve even more clients in the coming years, the classroom itself is in need of repair and renovation in order to suitably accommodate the delivery of our financial literacy and homebuyer education programs.
We are seeking to raise a total of $250,000 for the classroom renovation project. Your contribution will allow us to expand access for class attendees by improving the parking area, adding an exterior entrance, and accessible restroom facilities. Your contribution will also support the purchase and installation of classroom furniture, supplies, and advanced educational technology.
You can also call us at 505.983.9473 or send us a message.
Thank you for considering this opportunity to contribute to helping thousands of New Mexican families increase their financial wellbeing and achieve successful homeownership through financial literacy and homebuyer education.
Throughout our history Homewise has had the generous support of local and national financial institutions, foundations, religious institutions, city, state and federal government agencies, community businesses and individuals. We gratefully acknowledge the active endorsement of our mission by our investors and contributors.
Bank of America
Bank of the West
First National Santa Fe
First National Rio Grande
Los Alamos National Bank
New Mexico Bank and Trust
Self-Help Credit Union
Texas Capital Bank
United Business Bank
Albuquerque Community Foundation
Bank of America Charitable Foundation
Calvert Social Investment Foundation
Los Alamos National Laboratory Foundation
McCune Charitable Foundation
Jessie Smith Noyes Foundation
PNM Resources Foundation
Erich and Hannah Sachs Foundation
Santa Fe Community Foundation
Wells Fargo Housing Foundation
Adrian Dominican Sisters
Lutheran Family Services
Mercy Investment Services
Religious Communities Investment Fund
Seton Enablement Fund
Sisters of Charity of the Incarnate Word
Community Businesses, Government Agencies and Nonprofits
CHRISTUS St. Vincent Regional Medical Center
City of Albuquerque
City of Santa Fe
CDFI Fund, US Treasury
Housing Partnership Network
New Mexico Mortgage Finance Authority
Opportunity Finance Network
Santa Fe Public Schools
Stewart Title Company
Univest Rancho Viejo/Estancia Homes
Individuals and Investment Funds
Ann Alexander and Richard Khanlian
Avalon Trust clients
Joel Frederick Barber
Beth Beloff and Marc Geller
Erika and Glenn Campos
Jill and Paul Cook
Quarrier and Phillip Cook
Susan and Conrad De Jong Fund
Lori and David Delgado
Fresh Pond Capital clients
Naomi and Robb Hirsch
Teresa Leger de Fernandez
Genevieve and A. Paul Mitchell
Monarch Community Fund
Felicia and Daniel Morrow
Mariel Nanasi and Jeffrey Haas
Laura M. Orchard
Karen E. Orso
Joseph and Lynne Ptacek
Stacy S. Quinn
Celia D. Rumsey Charitable Trust
Elizabeth and Richard Schnieders
Martha and Patterson Simons
Linda and Andrew Spingler
The Sustainability Group clients
Trillium Asset Management clients
Debra A. Walsh
OUR MANAGEMENT TEAM
Chief Executive Officer
Chief Lending Officer
Chief Communications Officer
Director of Albuquerque Operations
Director of Coaching, Education & Outreach
Director of Real Estate Development
Director of Finance
OUR BOARD OF DIRECTORS
Erika Campos, Chair
Dee Walsh, Vice Chair
Andy Spingler, Treasurer
Anne Messbarger-Eguia, Secretary
Teresa Leger de Fernandez
Dr. Shelle VanEtten de Sanchez
Alex and Kristine bought both their first and second home through Homewise. They also partnered with us to sell their first home. “Selling our home through Homewise was effortless,” said Alex. “The best part was knowing that our home was going to a well deserving Homewise client.”
Santa Fe Homeownership Center
505.983.9473 | 1301 Siler Rd, Bldg D
Albuquerque Homeownership Center
505.243.6566 | 4401 Lomas Blvd NE, Ste B
Orpheum Community Hub (to be completed in 2019)
505.795.0545 | 500 2nd St SW ABQ