The Pathway to Home Ownership Program utilizes a two-family home owned by Interfaith Neighbors and works with the Rental and Mortgage Assistance Program to identify individuals and/or families who would like to transition to home ownership.
Interfaith Neighbors provides first time homebuyer and credit counseling to program participants to ensure they are ready for the transition. Program participants sign a one year lease and pay monthly rental fees that are below market rate for one of the two apartments in the Pathway to Homeownership home. IFN escrows a portion of the tenants’ monthly rental payments to contribute towards the down payment on a home when the tenant is ready to purchase. The accumulation of a down payment is often is the biggest obstacle for low and moderate income families to overcome in their quest to become homeowners.
At this time, both apartments in the Pathway to Home Ownership program are occupied. For more information or to apply to be on the wait list for when one of the apartment units becomes available, please email [email protected].