# Presentation: 253734

## HOME-New Mexico

-  *Helping people *
*with  disabilities *
*achieve  the *
*American *
*dream...*
*Homeownership*

## Our Program

- 	HOME-New Mexico (HNM) is a nonprofit organization that envisions communities where people with disabilities (PWD) have equal access to safe, affordable and accessible housing, as well as fair and low-cost financing.

## Mission

-    Our mission is to help facilitate housing choices for New Mexicans to ensure their community, accessibility and affordability preferences are met.  Through public awareness, partnering, collaboration, coordination and mentoring, New Mexicans with disabilities shall receive appropriate individual supports necessary to realize their housing goal.

## Vision    

-     Our overall goal is to increase homeownership opportunities for
-     people with disabilities in New Mexico

## HOME-New Mexico’s Services

_**Homebuyer Counseling**_
- We provide individualized and group homebuyer counseling (pre and post) for eligible families.  During counseling we review:
- Household Budget
- Credit History
- Housing Needs and Wants
- Money Management
- Available Resources
- Accessibility Issues

## Partners and Resources

**      **
**    ****New Mexico Mortgage Finance Authority **
**    ****Fannie Mae**
**    ****HUD/Public Housing Authorities**
**    ****Suburban Mortgage Company**
**    ****Bank of Albuquerque**
**    ****Federal Home Loan Bank of Dallas**
**    ****City of Albuquerque**
**    ****Independent Living Resource Center**
**    ****Real Estate Professionals**

## 		New Mexico Mortgage 		Finance Authority

**"Our mission is to make New Mexico a better place to live by investing in community efforts to preserve and expand affordable housing opportunities for those underserved by traditional markets."**** **

## NM Mortgage Finance Authority (con’t)

- Below market interest rates for low and moderate income first time buyers
- Down payment/closing cost assistance for people with disabilities:
- “Helping Hand” soft second loan, 0% interest, no monthly payments, forgivable after 10 years
- NM Land Title Trust Fund (administered by MFA) also has provided soft second loans to people with disabilities

## Suburban Mortgage Company

- Locally owned and operated for 25 years
- Strong commitment to serving people with disabilities
- Fannie Mae’s designated lender for HomeChoice loans
- Section 8 Homeownership lender
- Early delinquency intervention program with HOME-New Mexico

## City of Albuquerque

- Contract with HNM to provide services to people with disabilities
- Home Retrofit Program (pilot project)
- Approximately $13,000 (soft loan) per first-time buyer for home modifications
- Down payment assistance:
- $200,000 available for low-income first-time buyers
- NM MFA chosen to administer contract
- HNM chosen as one of the sub-contractors to administer homebuyer counseling
- Universal Design Sub-Committee

## Real Estate Professionals

- HNM provides training & guidance for Realtors® to work with people with disabilities
- HNM keeps Realtors® informed of various resources for people with disabilities
- Realtors® help clients find a safe, affordable, and accessible home

## HNM Accomplishments

- Over 230 families statewide have become homeowners.
- Over $15 million in mortgages have been generated for NM communities.
- Over $1.4 million in down payment assistance utilized by eligible families.
- Over 130 volunteers have been trained.
- Counseling provided to over 850 families statewide.

## General Facts

**In New Mexico, there are approximately 338,430 (age 5+) people with disabilities according to the 2000 U.S. Census Bureau.**
**Only 1% of all people with developmental disabilities and 5% of people with disabilities living on Supplemental Security Income/Social Security Disability Income are homeowners compared to over 70% for all Americans (Opening Doors, Consortium for Citizens with Disabilities Housing Task Force, 1998)**

**56 million people in the U.S. have disabilities.  At 20 percent of the population, people with disabilities comprise the nation’s largest minority group.**
**The #1 cause of disability is aging.  As the population ages, approximately 40 percent of those over 65 will likely have disabilities.**