Habitat for Humanity International’s Post

According to a study conducted by the National Association of Realtors, Black homeownership still lags behind white homeownership by almost 30%, despite recent increases. This disparity can be attributed to systemic factors, such as redlining and inequitable access to mortgage credit. To address this, Habitat for Humanity launched the “Advancing Black Homeownership” initiative, which aims to dismantle the bias that has prevented Black families from accessing intergenerational wealth.

In partnership with Habitat for Humanity of Broward Restore and Broward County Public Schools, CNB volunteers, Michele Edwards-Collie and Lenin Deno, participated in the Financial Literacy Resource Fair presented to Broward School Board employees. The focus of the event was to navigate the challenges surrounding the pathway to homeownership. We are happy to share with you some of the key themes and insights that CNB's Community Development Banker, Lenin Deno shared: 1️⃣ The first step in the home-buying process is to start saving now. While down payment assistance programs can help, our CitySmart Loan Program requires borrowers to save at least 1% of the home's price for the escrow deposit, in addition to covering out-of-pocket expenses such as appraisals and inspections. 2️⃣ Developing a detailed budget or plan is crucial. It allows you to track your income and expenses, ensuring you know exactly how much you can afford to allocate toward a mortgage payment. A well-maintained budget is not only essential for managing your finances but also instrumental in enhancing your savings, thus supporting your goal in step 1. 3️⃣ Understanding your credit is vital for home ownership. Knowing your credit score is a start, but being familiar with the details of your credit report is equally important. Engaging with a HUD-approved counselor can offer personalized advice and represent a significant step toward achieving home ownership. 💡 Make sure you are well-informed about your loan options. When you get prequalified, it's crucial to know the estimated monthly payment, the interest rate, and the total amount of cash required for closing. We look forward to the next fair, where CNB will be present. Stay tuned for additional insights. CNBFL Member FDIC

Black Opportunity Fund is pleased to highlight these incredible opportunities for affordable homeownership across the Greater Toronto Area, from our friends at Habitat for Humanity GTA. Habitat for Humanity GTA is offering homes across the Greater Toronto Area, from Oshawa to Brampton, for families, couples, and individuals. If your household income is between $65K and $130K and you are struggling to afford a home in this market, Habitat GTA has a pathway to homeownership that may be right for you! *The Benefits* - No down payment: it can take decades to save for a down payment, Habitat GTA’s homes don’t require one. - Affordable mortgage: families pay a first mortgage geared to income while Habitat GTA provides a second mortgage to bridge the gap. - Peace of mind: you won’t spend more than 32% of your income on shelter, leaving room for building savings, investing in education and more. Select homes have been delivered in part by CMHC’s federal funding for first-time homeowner Black families in the GTA. Eligible applicants must have at least one person in their household who identifies as Black when applying for select units. *Minimum Eligibility Requirements* - You are employed full-time or full-time equivalent - You hold 3 years of consecutive employment history in Canada - You are first-time homebuyers and cannot afford a purchase on your own Ready to apply? We encourage you to learn more about the program, see unit details, and start your application: https://lnkd.in/g6J589eb Questions? Please contact the Habitat GTA team at families@habitatgta.ca To learn more about the program, see details on our website https://lnkd.in/g7cT7ZSf #HabitatForHumanityGTA #AffordableHomesGTA #HomeownershipForAll #InclusiveCommunities

EXCITING NEWS! FHLB Grants can help your clients save on their home purchase with up to $12,500 for first-time homebuyers and up to $15,000 for community partners! Expected to release on February 5th, 2024, First Heritage Mortgage is proud to offer the Affordable Housing Program, which provides eligible low-to-moderate income families and individuals with a grant of $12,500 to $15,000 towards their home purchase. FHLB Grants are available to first-time homebuyers and community partners. The funds can be used for reducing principal, as well as assisting in down payments, closing costs, and rehabilitation costs. See how much your clients can save: First-Time Homebuyers: Grants up to $12,500 Implemented to help more first-time homebuyers achieve their dreams of homeownership. Eligible first-time homebuyers can use these funds to reduce principal or to help cover closing costs, down payments, and/or rehabilitation costs. Community Partners: Grants up to $15,000 Designed to support vital members of the community who help others for a living. Home purchase assistance provided to current or retired law enforcement officers, educators, health care workers, firefighters, other first responders, and employees of those groups, veterans and active-duty military, or their surviving spouse. Both first-time and repeat homebuyers may be eligible. For full eligibility guidelines and to learn more about how to take advantage of these great grant opportunities, reach out to me and my team today. Contact me today to learn more about the Affordable Housing Program! #realtorjohns #mdrealtor #housefinder #thehelpfulagent #house #listreports #houseexpert #home #themoreyouknowthemoreyougrow #realestate #househunting #investment #happyhomeowners

Exploring the Impact of Homeownership: 🏠 Financial Stability: Homeownership is often a key part of long-term financial planning, providing a potential for equity growth and a forced savings mechanism through mortgage payments. 🔑 Personal Empowerment: Owning a home empowers individuals by giving them control over their living space and long-term residence security. 🌍 Community Engagement: Homeowners tend to be more involved in local affairs, from schools to community events, enhancing civic engagement and community development. Why This Matters: Understanding the multifaceted benefits of homeownership can inspire current and prospective homeowners to appreciate more deeply the broader implications of owning a home. It encourages a commitment not just to personal financial growth but also to contributing positively to the community. At Meadowbrook Financial, we are dedicated to helping you navigate the path to homeownership. We believe in the transformative power of owning a home and are here to support your journey with expert advice and personalized service. If you're considering the steps toward homeownership or looking to deepen your understanding of its impact, let's connect. We're here to guide you through every aspect of the process, ensuring you're well-equipped to make informed decisions. . #Homeownership #FinancialStability #PersonalEmpowerment #CommunityEngagement #MeadowbrookFinancial

Embracing the Journey to Homeownership: It's A-OKAY to get a little help from family! Many under-30 homebuyers are using gift funds from loved ones to make their down payment dreams a reality, and that's a fantastic start! But guess what? There's a world of assistance programs out there, so even if you can't rely on family gifts, you've still got options! #HomeownershipDreams #FamilyGifts #DownPaymentAssistance #YoungHomebuyers #UnlockingOpportunities

Embracing the Journey to Homeownership: It's A-OKAY to get a little help from family! Many under-30 homebuyers are using gift funds from loved ones to make their down payment dreams a reality, and that's a fantastic start! But guess what? There's a world of assistance programs out there, so even if you can't rely on family gifts, you've still got options! #HomeownershipDreams #FamilyGifts #DownPaymentAssistance #YoungHomebuyers #UnlockingOpportunities #vipmortgagegroup

Good News! A significant initiative launched by Gov. Katie Hobbs and the Arizona Department of Housing (ADOH) aimed at expanding homeownership opportunities across the state is on its way. The newly introduced "Arizona is Home" program, backed by a $13 million investment, seeks to assist low-to-moderate income first-time buyers in realizing their dreams of owning a home. This program offers prospective homebuyers enhanced down payment assistance and mortgage interest rate relief. With the support of this initiative, approximately 500 qualifying individuals statewide will have access to resources that can help make homeownership a reality. "Arizona is Home" represents a promising opportunity for families seeking to establish roots and build financial stability. It underscores the collaborative efforts in making homeownership more accessible to the Arizona community. A New Leaf recognizes the significance of initiatives like "Arizona is Home" in supporting families on their journey to homeownership. "Arizona is Home" offers unique benefits and opportunities that contribute to community well-being and prosperity. By providing crucial assistance, it not only helps families secure a place to call home but also supports them in getting back on their own feet, fostering independence and self-sufficiency. https://lnkd.in/gaP4rE8w

Hey there, future homeowners of the Bluegrass State! Ready to turn those homeownership dreams into reality? We know the struggle – it's not always about the credit; Sometimes it's about that pesky down payment. But guess what? Kentucky has your back with Down Payment Assistance (DPA) programs! Let's Dive into the Down Payment Assistance World: Eligibility Magic: Find your eligibility sweet spot! It's not just about your credit score; it's a dance of income, credit, and the home's location. The stage is set, and you might just be the star! Assistance Variety Show: DPA comes in many forms – grants, low-interest loans, or forgivable loans. It's like a menu for your homeownership feast! Pick what suits your taste and financial appetite. Homebuyer Wisdom: Knowledge is power! Some programs want you to don the graduation cap with homebuyer education. Get informed, because educated buyers are happy homeowners! Rulebook of Restrictions: Every game has rules, right? There might be restrictions on the homes that qualify – think maximum purchase price and specific property requirements. But hey, rules are made to be navigated! Government & Nonprofit Stars: The real MVPs – government entities and nonprofits! They're offering programs to make your homeownership dreams shine. Kentucky's DPA Extravaganza: Welcome Home 2023: The red carpet treatment for low- and moderate-income homebuyers! Grants for down payments and closing costs – a true welcome to your new home! HUD CDBG Grants: Money rain from the HUD cloud! Communities get grants to assist homebuyers. It's like a helping hand reaching out from the sky. KHC Special Loan Program: Breaking down barriers! KHC knows the stumbling blocks and offers a special loan program to make your journey smoother. Regular DAP: It's the MVP of the show! Up to $10,000 in $100 increments, repayable over 10 years at 3.75 percent. It's your ticket to homeownership! Ready to Soar? Here's Your Captain, Richard Scholes!

🌟 Numbers Don't Lie: The Reality of Home Affordability in the US 🏠 According to a recent study, the statistics speak volumes: 48.9% of US households, equating to a staggering 64.8 million households, can't afford a $250,000 home. 😲 Additionally, a concerning 39 million households are unable to afford a $150,000 home. These numbers shed light on the pressing issue of housing affordability across the nation. At The American Dream Grant Program, we're committed to addressing this challenge head-on by providing vital funding assistance and support to first-time, low-to-moderate income homebuyers. 🌟 Click the link in bio to visit our website and learn more about our programs & services. Together, let's work towards a future where every family has the opportunity to achieve the dream of homeownership. 🏡💙 #TheAmericanDreamGrantProgram #TADGP #HomeAffordability #NumbersDontLie #HousingCrisis #AffordableHousingForAll