Release date: 2/21/2017
NeighborWorks America awards $48 million in down payment assistance grants to 19 nonprofit lenders
Washington — NeighborWorks America today announced that $48 million in down payment assistance grants have been awarded to 19 Community Development Financial Institutions (CDFIs) working to increase low- and middle-income homeownership in their communities. The one-time grants, awarded after a competitive process conducted by third party reviewers, are part of Project Reinvest
, a limited and targeted program from NeighborWorks America, not related to its core grant operations.
The 19 grantees which includes both NeighborWorks network and non-network organizations, represent 17 loan funds and two credit unions located in 16 states. A full list of the grantees can be found at Project Reinvest: Homeownership
About NeighborWorks America
For more than 35 years, NeighborWorks America, a national, nonpartisan nonprofit, has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $27.2 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals.