Affordable Mortgage = Staying Power

Melanie E. and her son in front of their new home

Melanie E. is an inspiration to all of us. In an era of debt, Melanie rebuilt her credit and saved a down payment towards buying her first home. She was able to do this with the assistance of the Countywide Homebuyer Assistance Program (http://www.racw.net/programs.jsp?pageId=2161392210281129744363733), administered by the Redevelopment Authority of the County of Washington and funded in part of HUD HOME program funds.

Melanie is a single mother of three and a waitress at a local restaurant. She had to work hard to prove her creditworthiness before being approved for a home she could afford. Assistance program approval allowed Melanie to borrow as much as $80,000, but Melanie's challenge was to find a home whose mortgage would match her current rent payments. The rehabilitation portion of the assistance program allowed for a new roof and needed electrical upgrades.

HUD Community Development Block Grant (CDBG) program funds of $13,484 for down payment assistance and $23,000 in assistance program funds for home rehabilitation made Melanie's dream of owning her own home a reality.

Because she has an affordable mortgage payment, Melanie's family has been able to thrive in their new home and neighborhood. Our best wishes to Melanie and her family.

###