“Traditionally, down payment providers would be pretty proud if they were offering $5,000. But that doesn’t do anything…”

“Fannie Mae, the government-sponsored mortgage financer, recently awarded $1 million to Twin Cities Habitat and the Minnesota Homeownership Center to support the development of a regional approach toward Black homebuying as part of its national competition, the Sustainable Communities Innovation Challenge. Julie Gugin, president of the Minnesota Homeownership Center, called the ‘Advancing Black Homeownership’ program both a catalyst and ‘proof of concept’ for a regional approach that will be refined based on the feedback of Black homebuyers.”

Pioneer Press coverage of the TC Habitat / Homeownership Center pilot project award to create Special Purpose Credit Program for Foundational Black households.

Read the Full Article