CDFIs create affordable houses for people to call home
Building Wealth Through Homeownership
In the search for affordable housing, people from low-income communities may find they don’t meet the stringent requirements needed to qualify for a home mortgage from a traditional financial institution. In addition, they are frequently priced out of quality rental housing.
CDFIs help people get on the path to wealth-building through homeownership financing and coaching.
Since the CDFI industry’s earliest days, CDFIs have worked to boost homeownership for low- to moderate-income people and increase affordable rental housing opportunities in rapidly gentrifying areas.
In rural, urban, and Native communities, CDFIs offer low-interest rate mortgages with flexible underwriting, invest in the development of high-quality, energy-efficient homes, and innovate in affordable housing preservation and creation.
CDFI investments create affordable, safe, and desirable rental housing that provide stability and a place to call home for families in all 50 states, D.C., Puerto Rico, and the U.S. Virgin Islands.
CDFIs Drive Homeownership and Affordable Rentals Nationwide
Through 2021, OFN member CDFIs have helped support the development or rehabilitation of more than 2.3 million affordable housing units nationwide. And CDFIs nationwide have financed $2 billion annually in mortgages.