A nonprofit organization known for creating successful homeowners and…
strengthening neighborhoods so that individuals and families can improve their long-term financial well-being and quality of life.
Homewise, 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 for 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
