Research Report A New Model for the Provision of Affordable Homeownership
Brett Theodos, Christina Plerhoples Stacy, William Monson
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This report explores the approach to encouraging homeownership practiced by Homewise, a homeownership organization based in New Mexico. Homewise differs from many other homeownership organizations in that it lowers required downpayments and monthly payments, and has a vertically integrated model, from initial inquiry to final financing and post-purchase services. The report describes the Homewise model and presents evidence on the characteristics and outcomes of Homewise clients. Homewise’s model suggests that with a carefully structured, vertically integrated system, homeownership can be encouraged in ways that better align risks and incentives for the counselor, borrower, and lender.
Research Areas Nonprofits and philanthropy Housing
Tags Homeownership Housing affordability
Policy Centers Metropolitan Housing and Communities Policy Center
Research Methods Performance measurement and management