Since 2015, our innovative Homesteading Program has created affordable homeownership and equity building opportunities for 21 families. In the last three months, three new families began making land contract payments on their new home. Just three weeks ago, another family made their final contract payment, and now own their home outright! Do you know the most amazing part about it? It only took the family five years! On average, owning a home in the U.S. can take anywhere from 15 to 30 years.
The opportunity for lower-income families to own a home without obtaining a traditional mortgage provides them with the tools necessary to continue a legacy of homeownership for not only their family, but for the next family. We are so proud of our Homesteading families for taking a leap with the program and trusting the process. As of today, all Homesteading homes are on their way to being owned by a Homesteading family!
This, of course, would not be possible without the support of our funders. HUGE thank you to the Farmer Family Foundation, Impact 100, Union Savings Bank, Guardian Savings Bank, the City of Cincinnati, Fifth-Third Bank, PNC Bank, and Christ Church Cathedral for helping us keep the Homesteading Program going for nine years now!
Do you know of a vacant house in the neighborhood or have a house you would like to donate or sell? Please contact our Residential Real Estate Director Jim Tuttle at jim@pricehillwill.org!