Welcome to the La Plata Homes Fund (**SITE UNDER CONSTRUCTION**)

Overview and Background

La Plata Homes Fund Inc (Homes Fund) grew out of a community initiative concerned about the affordability of housing, particularly the growing inability of working families to become homeowners.  In partnership with the Regional Housing Alliance of La Plata County (RHA) and other non-profit agencies, the Homes Fund was needed to help build a pipeline of ready homebuyers, and raise and leverage additional funds for mortgage assistance and development programs.

Making Homeownership Possible

Launched by a $1.1 million contribution from BP-America, the Homes Fund (in partnership with the RHA) has been able to provide individualized financial and homeownership counseling, comprehensive homebuyer education and mortgage assistance loans.

Our successes to date include (July 2009):

  • 300 families trained through the homebuyer education program
  • Over 200 families actively preparing to become homeowners
  • 35 loans closed for 30 new homeowner families (see Loan Portfolio for details)
  • $1.16 million lent in gap financing, which has leveraged over $5.4 million in first mortgages to the community
  • $2.15 million raised for loan capital from local employers, state and federal government and private sector contributors
  • $463,000 committed to an additional 11 families for home closings in the next 6 weeks
  • Consistently building a pipeline of potential homebuyers
  • Averaging 6 new family intakes into the program a week

Why provide financial support to the Homes Fund?

With the current status of the economy homeownership presents a viable option to support local industry and workforce.  These programs not only bring in millions of dollars in leveraged funds, but also help people make educated and responsible decisions to build wealth.  Through a comprehensive counseling and education program defaults and foreclosures are minimal and our economy grows more vibrant.

The timing is right for low and moderate income families to buy – the housing product is available, interest rates are at 40-year lows, tax credits are unprecedented and the Homes Fund mortgage assistance program makes it happen locally.  Over 350 families have come through our program with more on the way every day.

By supporting the Homes Fund you are helping our community solve the affordable housing crisis.  Our program helps support your bottom line, we absorb product, help you to house employees, leverage first mortgages, and increase community wealth.  La Plata Homes Fund partnerships with local housing industry providers, lenders, governments and employers help make homeownership a reality for families.

Recognition Opportunities

  • Event sponsorship for donor appreciation: signage, on-going displays
  • Client story board for office
  • Website links
  • Exposure to clients, governments, local partners, state and federal agencies, etc.
  • On-going publicity as partner for making affordable housing reality