Hello Stewardship, a program of Hello Housing, helps local government, housing authorities, housing trusts and private developers make and maintain responsible investments in Below Market Rate for-sale and rental housing. Managed well, these investments create real opportunities for low and moderate income families to sustainably improve their lives. This means homebuyers not only purchase a home, but are able to stay in their home or use the benefits of participating in a Below-Market-Rate (BMR) program to enter the conventional homebuyer market. With home prices once again surging well above pre-recession values, it is more important than ever for jurisdictions to actively monitor these portfolios to ensure the intent of the program is achieved and the affordable homes protected. As more and more traditionally affordable communities become out of reach, designing new BMR and down payment assistance programs to foster healthy and diverse communities is critical. To learn more about how to design, implement and monitor effective, high-impact affordable homeownership programs, take a look at the Stewardship Principles developed by our funding partner, Cornerstone Partnership (now a part of Grounded Solutions Network).
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– Program design and development
– Marketing, outreach and sales
– Underwriting and processing
– Homebuyer qualification
– Homebuyer education of resale restrictions
– Post-closing administration
– Monitoring of homeowner compliance