CHRISTUS St. Vincent Grants $1 Million to Homewise to Catalyze Affordable Housing Initiatives in Northern New Mexico
June 15, 2020
CHRISTUS St. Vincent has converted a $1 million loan into a grant to Homewise to support high impact and much-needed affordable housing and community development initiatives in Northern New Mexico.
In light of current circumstances, CHRISTUS St. Vincent converted the loan to a grant to help Homewise maximize its efforts to address this important community need.
The funds will allow Homewise to continue to help create new homeowners, finance affordable housing and mixed-use community developments, help existing homeowners make home repairs and improvements, and help seniors make necessary home modifications to safely age in place.
Through an existing partnership, CHRISTUS St. Vincent and Homewise have already helped over 100 CHRISTUS employees attain successful homeownership in Santa Fe with affordable financing and down payment assistance. In partnership with Anchorum St. Vincent, CHRISTUS and Homewise recently launched the second phase of this homebuyer assistance program with enough funding to help an additional 100 CHRISTUS employees purchase a home of their own.
The $1 million grant to Homewise will help make homebuyer assistance available to the entire community as well as help catalyze new community development and affordable housing projects benefiting Northern New Mexico.
“This is a wonderful opportunity to strengthen our relationship with Homewise for the benefit of our Associates and our community,” said Lillian Montoya, President & CEO of CHRISTUS St. Vincent. “Home ownership instills a sense of pride and contributes to the overall health of our employees and our community.”
“Through this expanded partnership between CHRISTUS St. Vincent and Homewise, we will be able to make a meaningful and lasting impact on affordable housing in Northern New Mexico,” said Homewise CEO Mike Loftin. “This $1 million grant strengthens our position to raise even more funds to help make affordable mortgage loans to new homebuyers and develop the kind of affordable housing and mixed-use neighborhoods our community needs.”
Homewise, Inc. is a nonprofit Community development Financial Institution (CDFI) that works throughout New Mexico to help create successful homeowners and strengthen neighborhoods. Homewise empowers and supports clients on their path to homeownership through each step of the process with financial education and coaching, real estate services, affordable mortgage lending and down payment assistance, refinance and home improvement lending. Homewise strengthens neighborhoods by increasing homeownership through real estate development and disinvested property rehabilitation, and revitalizing communities to benefit existing residents. Since its founding in 1986, over 16,200 households have attended their financial workshops. During that time over 5,100 people have purchased homes, over 2,200 have made energy efficient home improvements, more than 730 have refinanced their mortgages and the organization itself has built over 750 high quality, affordable homes. www.homewise.org
About CHRISTUS St. Vincent
CHRISTUS St. Vincent is a private, not-for-profit hospital serving more than 300,000 people across seven counties in northern New Mexico. Founded in 1865 by the Sisters of Charity, it was the first organized health care facility in the New Mexico Territory. Today, CHRISTUS St. Vincent employs more than 2,200 providers and associates, and operates more than 41 physician-led clinics and centers of specialty care. CHRISTUS St. Vincent holds a 5-star rating from the Centers for Medicare & Medicaid Services and has been recognized by its associates as a "Best Place to Work" in New Mexico in 2018 and 2019. In 2019, CHRISTUS St. Vincent became New Mexico’s first member of the Mayo Clinic Care Network. Its healing ministry is to improve the health and well-being of the communities it serves.