Delaware County Council joined members of the County’s Office of Housing and Community Development and members of the real estate community during their council meeting on June 26 to declare June as National Homeownership Month.
Communities across the country, including Delaware County celebrate National Homeownership Month during the month of June. The purpose of National Homeownership Month is to spotlight the extremely important, but sometimes overlooked value homeownership brings to our society.
Homeownership provides important social and economic benefits. Homeownership contributes to a strong economy, builds strong communities and, to the individual family, represents a powerful tool for building economic stability and self-esteem.
Delaware County Council and the County’s Office of Housing and Community Development are committed to stabilizing neighborhoods and increasing homeownership opportunities through the County’s Homeownership First Program. While many households have the necessary income to qualify for mortgage financing, they pay so much for rental housing and other monthly obligations that accruing adequate funds for a down payment and closing costs is not feasible. The Homeownership First Program provides up to $5,000 for a down payment and closing costs to qualified low-and-moderate-income households.
Individual and group pre-purchase counseling are provided to program participants to ensure long-term successful homeownership. Since the inception of the program in1996, 972 households have purchased homes. Program statistics reveal that traditionally underserved populations such as minorities and female-headed households are benefiting from the program. The average annual income of households assisted is $35,000.
Homeownership is a commitment to personal financial security, a commitment to strengthening families and good citizenship, a commitment to community, and lastly, a commitment to economic growth. It is with these benefits in mind that Delaware County Council observes National Homeownership Month and reaffirms the commitment to increasing homeownership opportunities thus helping to stabilize Delaware County families and neighborhoods.
More information on the Homeownership First Program can be found here: https://www.delcopa.gov/hcd/pdfs/HousingInitiatives.pdf