Three Points Village Construction Loan | NeighborWorks Laredo

NeighborWorks Capital is pleased to provide an $822,800 construction loan to NeighborWorks Laredo, located in Laredo, TX. These funds will be used to construct the first of five affordable single-family homes in a 24-unit subdivision called Three Points Village. The organization plans to construct the five homes simultaneously.  

Laredo is located along the Texas/Mexico border on the north Bank of the Rio Grande in South Texas and is the third most-populated city on the Mexican border after San Diego, CA and El Paso, TX. The city has one of the highest proportions of Hispanic Americans (95%) of any city in the United States outside of Puerto Rico. As of April 2025, Laredo’s unemployment rate was 4.6% compared to the national average of 4.5%. Approximately 22% of the population lives below the poverty line. Of the five homes, three will be built for individuals or families at or below 120% of AMI; the remaining two will be for buyers at or below 80% of AMI and the City of Laredo will provide a subsidy of $50K per home. The average sale price will be $180,000 but with the subsidy from the city, mortgages will be reduced to $130,000 making these homes more affordable for residents than other comparable homes in the area. 

NW Laredo was incorporated in 1991 to strengthen and revitalize Laredo communities by developing affordable housing and promoting homeownership. NW Laredo’s primary line of business is homebuyer education. The organization also provides money management and post-purchase counseling to its community members.  

This is NeighborWorks Capital’s first loan with NW Laredo, and we are excited for this new partnership and look forward to future opportunities to work together as the organization continues to provide affordable housing for the community.