HOMEOWNERSHIP PROGRAM

Beginning in 2010, CAHEC modified the Home Ownership Program policy for determining our contribution amount. Starting at a minimum of $1,000, we will match the resident's savings dollar for dollar up to a maximum of $5,000. Follow the links below for more information about the HOP.

"Owning your own home is definitely the American Dream. I give many thanks for that dream."
- Nancy Ellison, first recipient of CAHEC Homeownership Program grant

To own a home is not only the American dream; it’s a way to create wealth. But for most low-income households, the dream remains out of reach, especially when saving for a down payment or qualifying for a mortgage seems unachievable. CAHEC’s commitment to promoting homeownership represents a small but important step toward turning the dream into a reality for America’s low-income workers.

CAHEC’s Homeownership Program is a way for individuals and families living in CAHEC-sponsored rental properties to build wealth by using savings to purchase real property. Once the resident completes a home-buyer's training course, qualifies for a mortgage, and saves a set minimum amount toward the purchase of a home, CAHEC will authorize a contribution to the resident's down payment and closing costs. As the resident accumulates additional savings, CAHEC authorizes matching funds. At the time of closing, CAHEC makes the actual contribution. To date, the majority of CAHEC’s new homeowners have been single mothers determined to build a better life for their children.

Important Forms