For many families, homeownership represents the fulfillment of a dream. Through its homeownership programs, the Family Housing Fund works with public and private lenders and nonprofit organizations to help ensure that low- and moderate-income families also have the opportunity to realize this dream through successful long-term homeownership. The Fund's programs assist families before they purchase homes, at the time of purchase, and following purchase.
With its pre-purchase assistance, the Fund supports counseling and education for prospective homebuyers on topics such as budgeting and home maintenance. With its purchase assistance, the Fund provides grants and loans to assist families with closing costs, down payments, and mortgage debt. With its post-purchase assistance, the Fund supports the Mortgage Foreclosure Prevention Program, which provides counseling and emergency funds to prevent families from losing their homes.
The Fund also provides financial support for the development of affordable single-family homes. The Fund subsidizes the cost of building new homes or rehabilitating vacant houses to lower the sale price of the home to an amount that families can afford.
Since 1980, the Fund has provided loans and grants totaling $39.5 million for home ownership financial assistance and services to over 12,500 families