Owning your home is meaningful in so many ways
By Kathi Paradis
June, Homeownership Month, celebrates the value that owning a home brings to families, neighborhoods, and communities.
We hear many stories from our borrowers about how owning a home has changed their lives.
- Jenn was able to bring three generations of her family under one roof.
- Lisa brought out her grandmother’s dishes over the holidays and put them on her own table in her own home.
- Keri-Ann’s new home created safe and stable housing for her two children.
- Ryan said buying a home was the biggest day since his wedding.
Connecting these borrowers, and so many of us who are fortunate enough to own homes, is the importance of home as the place where we raise families, celebrate holidays, share fellowship, and, in these days of remote or hybrid work, earn our livings.
Homeownership also means not fearing rent increases or evictions when a landlord can get more money for the apartment. And mortgage payments build equity in what for many of us is the single biggest investment that we will make.
Our Welcome Home Loans professionals understand that buying a manufactured home, whether on its own land or in a resident-owned community, is a big step. That’s especially true for first-time homebuyers. So, we first work with home-seekers to determine what they can afford to pay. Even when a potential homebuyer has very limited income, we can help stretch their dollars by offering down payment and closing cost assistance.
Our average borrower pays $1,200 a month, including park rent when applicable. That’s less than renting a comparably sized home. Plus, they own their space and are building an appreciable asset.
When you or someone you know is ready to take a step toward homeownership, we invite you to join the more-than-1,600 homeowners we’ve worked with in the past 20 years and add your story to ours!
Kathi Paradis is the Community Loan Fund's Vice President of Residential Lending and Compliance.