HoPe: A Trailblazing Program For Home Ownership

Earlier this year, we launched an exciting new way to help financially disadvantaged Mobilians chart a path to homeownership. The HoPE (Homeownership Provides Equity) Program allows housing choice vouchers to be used for mortgage payments — helping qualifying voucher holders build equity instead of just paying rent. Using federal funds, we can incentivize the development of new affordable homes that can be transferred to HoPE Program participants. They can then use their vouchers to pay down the construction debt. After 15 to 30 years, they will own the home outright.

Using federal funding, we believe we can potentially build or start building between 50 to 75 affordable homes through this program by the end of 2027. Homeownership is one of the fastest ways to build generational wealth, and homeowners are invested in their properties and neighborhoods. In this video, you can meet the first participant in the HoPE Program, Jacqueline Majumder, and get a glimpse at what her new home in Trinity Gardens will look like when it’s completed later this year.

[sookiebelladonna]

Still waiting on what to do next! Started in April. 🤞🏾