Habitat for Humanity of New Castle County (HFHNCC) has exciting news to share. The organization is launching Almost Home, a groundbreaking program designed to help low-income individuals achieve the dream of homeownership. With support from New Castle County and JPMorgan Chase, Almost Home is a critical step in addressing the affordable housing crisis in New Castle County.
Modeled after the successful CHN Housing Partners of Cleveland, OH, Almost Home is a rent-to-own pilot program. It provides a unique pathway to homeownership for individuals who need more time to stabilize their financial situation and become adequately prepared for homeownership within 2-3 years. This initiative is a game-changer for those who have struggled to qualify for traditional mortgage programs due to credit problems.
The Almost Home Press Conference is scheduled to take place on Tuesday, May 2 at 11 am at 2226 Lamotte Street in Wilmington. This event will provide an opportunity for the community to learn more about this innovative program and its potential impact.
According to Kevin Smith, CEO of HFHNCC, the organization processes over 400 applications each year from individuals hoping to become Habitat Homebuyers. Unfortunately, many do not qualify due to credit issues. The Almost Home program will allow HFHNCC to select applicants who are close to qualifying and provide them with an affordable lease, giving them the opportunity to work on improving their credit and ultimately qualify for Habitat’s 0% mortgage program.
County Executive Matt Meyer expressed his enthusiasm for the Almost Home Program. He emphasized the urgent need for more affordable housing options in New Castle County and praised the partnership with HFHNCC. Furthermore, Jason Patton, Managing Director, Head of Community and Business Development, Northeast Division at Chase, highlighted JPMorgan Chase’s pride in supporting the Almost Home rent-to-own pilot program. This investment will contribute to the expansion of Wilmington’s affordable housing ecosystem and create a new pathway to homeownership for families facing financial challenges.
Since 1986, HFHNCC has been dedicated to improving lives and neighborhoods by providing affordable housing solutions for low-income families. The organization has built over 290 homes and served more than 1,000 families. In addition to building affordable housing, HFHNCC engages residents in neighborhood improvement efforts, offers free critical home repairs, provides interventions to support aging in place for older adults, and conducts financial literacy and home maintenance education for families in their homeownership program.
The launch of Almost Home represents a significant step forward in HFHNCC’s mission to create more opportunities for individuals and families to achieve the stability and security of homeownership. Through partnerships with New Castle County and JPMorgan Chase, the organization is poised to make a tangible difference in the lives of those affected by the affordable housing crisis.
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