Program to help poor families finance homes
San Luis-based group gets $25K
SAN LUIS, Ariz. — The Comite de Bien Estar is launching a new program to help low-income families in the area secure home financing.
The San Luis-based nonprofit organization recently received $25,000 from Nationwide Mortgage Collaborative to start the program effective July 2.
NMC is a coalition of non-profiting housing counseling agencies, mortgage lenders and financial institutions that help qualifying low-income or firsttime home buyers secure low-interest loans.
Under the program, Comite staff will be trained as mortgage loan agents who will act on behalf of NMC in helping qualifying families and first-time buyers apply for financing.
“We are very happy to have this opportunity to offer more services to lowincome families, and with this the Comite will offer a full range of housing programs for them,”’ said Maria Aguirre, the coordinator of the new program for the Comite.
Aguirre said the Comite de Bien Estar’s new venture will serve those low-income families who don’t qualify for government-subsidized housing programs such as the mutual self-helping housing programs offered through the U.S. Department of Agriculture’s Rural Area agency.
Aguirre said the new program will guide families through all steps in the process of securing financing for a home, from prequalifying to loan closure.
“Buying a home can be a complex process,” she said. “A lot of families are stuck with contracts that are not advantageous to them. And a lot of lowincome families think they have no possibility of achieve the American dream of home ownership, when, in fact, there are accessible options for them.”
The $25,000 provided to the Comite will go for training of staff to offer services through NMC.