transforming
lives, neighborhoods
and communities   

FY2018 ANNUAL REPORT

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.

Sincerely,

Mike Loftin

MIKE LOFTIN

Chief Executive Officer

Erika Campos

ERIKA CAMPOS

Chair, Board of Directors

 

Homewise by the NUMBERS

80+ employees in Santa Fe and Albuquerque

Como puedo ayudarte

75% of staff who work directly with clients speak Spanish

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$113.9M
total assets

Up 15% from FY2017

6,458 hours

of free, one-on-one financial coaching in English and Spanish

1 on 1

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$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.

class

62 classes

We offer free financial fitness and homebuyer education classes in English and Spanish.

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housing development

3 communities in development

Award-winning, energy efficient Homewise Homes® are available at El Camino Crossing, Oshara Village and Tessera

SOLD

$10.98M downpayment assistance provided to qualified borrowers

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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.

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loans

$371M

in loans serviced monthly

How do we impact our COMMUNITY?

Classes

1,824
Class Attendees

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.”

484
New Homeowners

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.”

Read the full story

85
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!”

53
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.

Read the full story

How we improve our clients’ financial wellbeing

Credit Score

78 point increase

Average increase for clients who started with a score under 640*

Savings

$4,000 increase

Median increase for clients who started with less than $5,000 savings*

Debt

$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


Ricardo and Claudia spent a year working on their credit issues before they were ready to purchase a home. “Credit is important. Pay attention to it,” Ricardo advises. “You have to have good credit to buy nice things.” When asked what the best thing about having their own home is, they both answered without hesitation “freedom.”

Read the full story

Who are
our clients?

by household

106

SINGLE PARENT

239

UNRELATED & SINGLE ADULTS

156

MARRIED + CHILDREN

70

MARRIED, NO CHILDREN

by age group

30

18-24 YEARS

293

25-34 YEARS

240

35-44 YEARS

232

45+ YEARS

by employer

108

LOCAL BUSINESS

69

EDUCATION

106

CITY, STATE & FEDERAL GOVT

59

CONSTRUCTION

103

HEALTHCARE

41

NONPROFIT

88

HOSPITALITY

32

SELF-EMPLOYED

76

NATIONAL BUSINESS

17

FINANCE

The Barelas barber

Raul’s dream
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.

game night

family and dog

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.

gym

el camino crossing

An innovative new all solar Homewise Homes® live/work community located in the heart of Santa Fe.

See home features

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.

Did you
know?

13 condos

For those who are ready to downsize or prefer to live more simply, El Camino Crossing offers 1-bedroom, 705-square-foot condos.

Did you
know?

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.

Did you
know?

Homewise solar statistics:

$276

savings

potential average yearly savings on electric bills for El Camino Crossing homeowners*

203

79.6%

number of households since 2010 that have converted to solar energy or made solar-related improvements through our affordable financing options.

44%

44.3%

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

Using solar energy helps reduce our carbon footprint. Offsetting 2,363 kWh per year of energy (the amount capable of being produced by a 1.38kW system) saves about

1.8 metric tons of carbon

This is roughly the equivalent of:

eliminating greenhouse gas emissions from

4,310 miles driven by a typical passenger vehicle

OR

eliminating the CO2 emissions

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.

did you
know?

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.”

1,155 sq ft / 3 bed / 1 bath $92k in renovations first of 12 homes to be renovated this year

Homewise
at the Orpheum

from disinvested property...

...to Community Hub

600+
new homeowners

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

upgrading classroom facilities

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.

Your tax-deductible donation of any amount can be made online at https://donatenow.networkforgood.org/orpheumnetworkforgood.org

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.

OUR PARTNERS

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.

Financial Institutions

Ally Bank

Bank of America

Bank of the West

BBVA Compass

Century Bank

First National Santa Fe

First National Rio Grande

Los Alamos National Bank

New Mexico Bank and Trust

Self-Help Credit Union

Texas Capital Bank

UBS Bank

United Business Bank

U.S. Bank

Washington Federal

Wells Fargo

Foundations

Albuquerque Community Foundation

Bank of America Charitable Foundation

Calvert Social Investment Foundation

Frost Foundation

Los Alamos National Laboratory Foundation

McCune Charitable Foundation

Jessie Smith Noyes Foundation

Onota Foundation

PNM Resources Foundation

Erich and Hannah Sachs Foundation

Santa Fe Community Foundation

Wells Fargo Housing Foundation

Religious Institutions

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

HUB International

NeighborWorks America

NeighborWorks Capital

New Mexico Mortgage Finance Authority

Opportunity Finance Network

Prosperity Now

Prosperity Works

Santa Fe Public Schools

Stewart Title Company

SVHsupport

Univest Rancho Viejo/Estancia Homes

Individuals and Investment Funds

Ann Alexander and Richard Khanlian

Anonymous

Avalon Trust

Avalon Trust clients

Joel Frederick Barber

Anne Beckett

Beth Beloff and Marc Geller

David Brasier

Erika and Glenn Campos

Lawrence Carreon

Jill and Paul Cook

Quarrier and Phillip Cook

Susan and Conrad De Jong Fund

Lori and David Delgado

Anne Messbarger-Eguia

Cliff Feigenbaum

Fresh Pond Capital clients

Elena Gonzales

Edward Grasskamp

John Guffey

Naomi and Robb Hirsch

Michael Kelly

Teresa Leger de Fernandez

Nahum Ward-Lev

Ann Lockhart

Michael Loftin

Viola Lujan

Genevieve and A. Paul Mitchell

Monarch Community Fund

Felicia and Daniel Morrow

Julie Moss

Mariel Nanasi and Jeffrey Haas

Agnes Noonan

Laura M. Orchard

Karen E. Orso

Joseph and Lynne Ptacek

Stacy S. Quinn

Celia D. Rumsey Charitable Trust

Miriam Sagan

Gail Saunders

Tom Saunders

Wilson Scanlan

Elizabeth and Richard Schnieders

Nan Schwanfelder

Martha and Patterson Simons

Linda and Andrew Spingler

The Sustainability Group clients

Alexis Tappan

Trillium Asset Management clients

Debra A. Walsh

OUR MANAGEMENT TEAM

Mike Loftin
Chief Executive Officer

Mark Vanderlinden
Chief Lending Officer

Laura Altomare
Chief Communications Officer

Elena Gonzales
Director of Albuquerque Operations

Agiola Bejko
Director of Coaching, Education & Outreach

Daniel Slavin
Director of Real Estate Development

David Brasier
Director of Finance

Management bios

OUR BOARD OF DIRECTORS

Erika Campos, Chair

Dee Walsh, Vice Chair

Andy Spingler, Treasurer

Anne Messbarger-Eguia, Secretary

Teresa Leger de Fernandez

Agnes Noonan

Dr. Shelle VanEtten de Sanchez

Paul Vogel

Katherine Ulibarri

Director bios

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