U.S. Treasury grants Habitat for Humanity $600,000 CDFI Financial Assistance award
ATLANTA (March 14, 2023) – RealEstateRama – Habitat for Humanity’s community development financial institution, Habitat Mortgage Solutions, recently received a $600,000 Financial Assistance award from the U.S. Department of the Treasury Community Development Financial Institutions Fund.
The award, which was announced in late February, will provide additional capital that Habitat Mortgage Solutions can leverage to create a new financial product to help U.S. Habitat affiliates build more affordable homes, with a focus on very low-income households.
Habitat recognizes that access to financial markets is a major barrier to homeownership for underserved people in economically distressed communities. As limited land supply drives up housing costs across the U.S., lending options catered specifically to low-income communities is a significant driver of housing affordability. CDFI awards are vital to maintaining a healthy pathway to stability for families and communities through safe, decent and affordable homeownership.
About Habitat for Humanity
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in south Georgia. Since its founding in 1976, the Christian housing organization has since grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.