Funding will support NPHS down payment financing on community land trust homes
For the second year in a row NPHS was awarded $500,000 from the U.S. Department of the Treasury’s CDFI Fund to scale homeownership opportunities for first-time homebuyers throughout the Inland Empire. The funding will support NPHS’ Community Lending Fund which aggregates and deploys capital to support various secondary financing loan programs, especially for homeownership.
As a Community Development Financial Institution (CDFI), NPHS provides consumer lending products that are capitalized through its Community Lending Fund. Over the last 24 months, the NPHS Community Lending Fund received $1.3 Million in investments to develop and deploy financial products, particularly down payment loans for low-income first-time homebuyers purchasing a home on a community land trust. Additionally, the fund supports financing programs that provides qualified homeowners access to solar panel financing and home improvement loans.
“NPHS appreciates the U.S. Treasury’s continued support,” stated NPHS CEO, Clemente Mojica.
“This funding will make the dream of homeownership a reality for many first-time home buyers purchasing our community land trust properties and other homes throughout Riverside, San Bernardino and East Los Angeles County.”
To invest in the NPHS Community Lending Fund, please contact Greg O’Donnell at firstname.lastname@example.org or (909) 243-7035.