Support families pursuing home ownership

Home ownership is an important way to build long-term financial stability. For families that have been living below 50% AMI for generations, there have not been pathways or adequate support in reaching this goal.

Nonprofit organizations are uniquely positioned to play a lead or support role with housing issues, creating networks and building partnerships that foster greater home ownership. In addition, nonprofits can provide individualized assistance, such as introductory homes ownership classes. 

To get started:

1. Develop a comprehensive strategy to support home ownership for your clients or community members living below 50% AMI.

2. Create a home ownership curriculum

3. Connect with organizations engaging in this, such as:
   * Community Land Trusts, which are owned by nonprofit organizations that sell land to a low-income household.  Costs are reduced by capping resale prices to make sure the property is not at the whims of the market.
   * Resident-Owned Communities, such as a neighborhood of manufactured homes that are owned by a cooperative of homeowners.

Best Practices / Innovative Programs

Habitat for Humanity provides homeownership opportunities for those in need of a safe, affordable homes.

Community Loan Fund provides loans, technical assistance and capital to supplement conventional lending institutions to provide opportunities for low-income New Hampshire residents to invest in manufactured homes in resident-owned communities.