Building Lives, Building Homes, Building Community....

Affordable Financing:

A key focus of HACDC’s homeownership program is to ensure that its clients receive affordable financing. Providing low-income families with the ability to control their costs for housing is a key means for building financial self-sufficiency while addressing one of the most basic human needs – shelter.  No HACDC homeowner pays more than 30% of their total household income toward loan payments and taxes. More often than not HACDC families pay less for their new homes than they previously paid for rent with the rental housing being of substandard quality.  Reduced housing costs allow more of income to be used for other essential needs such as food and healthcare, and for education. HACDC homeowner families have then used equity to start business, finance the cost of college for their children, and other wealth building activities. Second, HACDC helps its clients access subsidies from government entities and other 2nd or 3rd mortgage programs.

  To-date HACDC has helped more than 300 clients purchase their first home by securing:

  • $38,845,035 in affordable financing

  •  $21,286,311 in subsidized financing.

  •  HACDC clients maintain a 0% default rate on their original financing.