It's okay to dream...with your help someone's dream of homeownership can come true!
Jericho Road depends on your generosity for the support many low income homebuyers need to get to the closing table. All levels of donation make a difference! Pledge your annual committment or make a one-time donation.
The costs to build a starter home in the New Orleans area puts the sales price beyond that which a family in the low-moderate income bracket can afford. Financial resources that fill the void between what a family can afford and the home sales price is referred to as gap financing. The layering of multiple gap financing resources is essential to overall mortgage buy-downs to actual affordable levels.
This giving season we want to introduce The American Dream Fund.
The American Dream Fund is established specifically for the purpose of funding gap financing through Soft Second Mortgages for first time low income working families. With your contribution to The American Dream Fund, Jericho Road can provide Soft Second Mortgages to those who qualify.
A soft second mortgage through Jericho Road is one that accrues no interest and is forgiven over a period of 15 years.
In this post-Katrina environment of skyrocketing market rate rents and home sales in addition to a decrease in subsidized housing units, affordable homeownership development offers one of the few opportunities for low-to-moderate income working families to build wealth. Jericho Road works closely with first time homebuyers who face the daunting challenge of addressing barriers to affordable homeownership.
Will you partner with us to make someone’s dream of homeownership a reality?
For more information about donating to Jericho Road contact Holly Heine at firstname.lastname@example.org or 504-293-2882.
Jericho Road's work focusing on affordable housing options, attention to vacant land management, and resident leadership opportunities is a holistic approach to community revitalization.
Jericho Road Episcopal Housing Initiative
2919 St. Charles Avenue • New Orleans, LA 70115 • 504-895-6763 • email@example.com