As a Community Development Financial Institution Homewise has utilized resources available through the CDFI Fund to help New Mexicans achieve their dream of homeownership. With dollars from the CDFI Fund Homewise has provided approximately $10.5 million in amortizing loans and another $6.9 million in down payment assistance to 656 households. Of these households, 60% were under 80% AMI.
CDFIs are critical lender and investors in low-wealth communities and low-resourced communities in South Carolina. CDFIs are vital lenders for affordable housing, small businesses, and community facilities. We strongly support the protection of the CDFI Fund.
Bridge and other CDFIs support business creation and expansion as well as the construction and redevelopment of housing in low to moderate income neighborhoods. These are activities not offered or delivered by other financial institutions to extent provided by CDFI’s.