A nonprofit lending organization that strengthens neighborhoods so that individuals and families can improve their long-term financial well-being.
Homewise is known for creating successful homeowners and strengthening neighborhoods.
The nonprofit organization, which has helped more than 5,000 New Mexicans achieve homeownership since 1986, recently expanded to offer commercial mortgages for owner-occupant businesses and nonprofits that wish to purchase a building. Homewise aims to help these important community groups and businesses build wealth and find stability in the long term.
Type of Businesses Served
- Owner-occupant businesses and non-profits (must occupy 51% or more of the building)
Stage of Businesses Served
- Established businesses (defined as operational for at least 12 months)
Funding Style
- Commercial mortgages, loans can be used for property acquisition and/or improvement
Funding Range
- Loans up to $1,000,000
Loan Application
- Request an application from Johanna Gilligan at jgilligan@homewise.org
- Complete application and submit requested financials
Applicant Requirements
- Must submit three years of tax returns, all relevant organizational documents, and personal tax returns (if requested)
- Must be purchasing a building within our current lending territory (Interstate 40 south to Broadway in Albuquerque, within a low-income census tract in Santa Fe) See image below for Albuquerque lending territory.
- Must be an LLC or 501c3 based in New Mexico
Resources Provided
- Technical assistance referrals
- Lower down payment than most commercial mortgages
Contact
Johanna Gilligan, Senior Director of Community Development at jgilligan [at] homewise.org or call 505-469-6195
