As part of Renew’s mission to neighborhood stabilization, we often pick properties that create the most blight and deterioration in communities. In this case, we chose a property that was once deemed “Not Suitable for Sale” for its unsafe building conditions. With assistance from The Blight Elimination Program, the house was able to be demolished and allowed for the development of an affordable home.
Our loan has a lower fixed interest rate than a traditional mortgage, has no private mortgage insurance, no down payment, and no out-of-pocket closing costs. That’s why when Kris was looking for affordable housing downtown on a teacher’s salary, her realtor knew who to call.
At Renew, we know that diversity of housing and incomes within a neighborhood is vital to making a neighborhood sustainable. Check out this video to learn how we help people like Kris find homes in communities they may have otherwise been priced out of.