At a time when community stability in our region is not just a low- to moderate-income issue, INHS is stepping in to help people bridge the economic attainment gap through homeownership.
A new survey from NeighborWorks America highlights that a significant number of U.S. adults consider homeownership a top goal but are concerned about affordability, safety and connectedness to community. All are key factors that stabilize and fortify communities and families. Housing counseling and services offered by INHS provide invaluable tools and resources that can help alleviate those concerns.
INHS, a member of the national NeighborWorks network, is dedicated to expanding housing opportunities for low and moderate-income residents of Tompkins County and the surrounding region. In 2019, INHS helped 231 households purchase a home through our down payment assistance program, while 180 people took an INHS homebuyer class. Throughout 2020 and the public health crisis, INHS hasn’t stopped working with low-to moderate-income households realize their dream of owning a home, and is still accepting applications for its homeownership programs.
This year’s NeighborWorks America housing and financial capability survey found that Americans widely agree that homeownership offers many benefits. Eight in 10 believe it provides peace of mind and a sense of safety and security, and seven in ten believe it increases financial stability and grows a connection to the community.
Obstacles to starting the homebuying process are related to access to information as well as financial resources. About half of Americans say a lack of information makes homeownership too challenging, and less than half know where to find homebuying advice if they wanted it. Just one in three non-homeowners said they were aware of down payment assistance programs in their community. Forty-nine percent of people say the affordability of a home is a factor that may be important to them when choosing a home. Eighty-five percent of people say owning a home would give them a feeling of safety and security.
“Our focus on housing and affordability, serves to help set the foundation for the stabilization of communities. People can connect with our network organizations, gain access to invaluable tools and resources,” said NeighborWorks America Executive Vice President and Chief Operating Officer Susan M. Ifill. “Nobody has to go it alone, we have housing counselors, financial coaches, tips and guidance on all stages of the homebuying process, including information about down payment assistance.”
For more information about INHS and its financial assistance programs, visit our website or call (607) 277-4500.