Breaking the Cycle of Renting with Homes by CFE

For many people, owning a home can seem like an unattainable dream. But through Homes by Community Financial Empowerment (CFE), low to moderate-income borrowers are able to leave the cycle of renting and achieve stable, affordable homeownership. As nonprofit lenders, we are guided by the values of transparency, equity, and responsibility and strive to make homeownership accessible for all.

The Down Payment Assistance Program

The Down Payment Assistance Program To that end, we have developed the Down Payment Assistance (DPA) Program as a Special Purpose Credit Program (SPCP). The DPA program is designed to benefit low to moderate-income African American / Black / and Hispanic / Latinx households—the groups that experience the most significant homeownership gap in DC. This program is intended to support program participants with the necessary funds to be able to make a down payment on their mortgage loan. By providing this assistance, participants are able to avoid mortgage insurance fees as well as lower their upfront down payment and closing costs.

Program Benefits

In addition to financial assistance in purchasing a home, our DPA program offers other advantages for borrowers. These include access to quality housing counseling services at no cost which helps program participants understand their rights and responsibilities when it comes to purchasing a home or managing a mortgage loan. We also provide post-purchase housing counseling services free of charge which helps borrowers stay on track with their mortgage payments and better manage their finances. And finally, our DPA program provides access to a network of approved financial institutions that offer competitive loan options tailored specifically for our clients’ needs.

At Homes by CFE, we are dedicated to creating equitable opportunities for all individuals looking to purchase homes in DC neighborhoods. Through our Down Payment Assistance Program, we provide resources and guidance so that everyone can break out from the cycle of renting and into sustainable homeownership regardless of income level or race/ethnicity. We believe that everyone should have access to safe and affordable housing within DC communities without financial burden or worry about where they will live next month or next year! With this mission in mind, we are helping more people become successful homeowners every day.

Contact Information

Oswaldo Acosta

CEO

1 Thomas Circle, NW STE 700

Washington, DC 20005--580

www.cfhomes.org

info@homesbycfe.org