Proud Ground and Minority Homebuyer Assistance Collaborative work together to serve minority homebuyers
The housing organizations recently helped two low-income households become homeowners
Two new homebuyers achieved the dream of homeownership through Proud Ground, a nonprofit organization creating affordable homeownership opportunities for low- and moderate-income first-time homebuyers, and the Minority Homebuyer Assistance Collaborative.
The Minority Homebuyer Assistance Collaborative (MHAC) is a coalition of local nonprofit organizations dedicated to promoting minority homeownership through culturally specific homebuyer education and counseling services that are offered in both in English and Spanish. In addition to homebuyer education, MHAC (which is comprised of the African American Alliance for Homeownership, Hacienda CDC, and Portland Community Reinvestment Initiatives) also makes small grants available to help households on their way to homeownership – which is how Proud Ground came to partner with MHAC.
Proud Ground homeowner Tracie Cole is a perfect example of the difference MHAC can make. Tracie fell in love with her brand new, Earth Advantage town home in Lents from day one. Though the home was offered through Proud Ground for $124,499, the monthly payments were still just a bit too high for Tracie’s budget. MHAC’s $5,000 down-payment grant was just the right amount to bring Tracie’s monthly payments down to a level that made owning her first home possible.
“There’s not a better feeling than becoming a homeowner,” Tracie explains as she describes the impact homeownership has on her and her three children. “I feel such joy; I can’t believe this is really mine. Hopefully now my kids will want to become homeowners.”
Tracie and another Proud Ground homeowner helped by MHAC join four other households at Pardee Commons, a 10-unit Earth Advantage Platinum Home development in Lents that uniquely combines duplex-style townhomes and detached units with shared green space and green features. More information: http://www.proudground.org/homes/.
About the Minority Homebuyer Assistance Collaborative
MHAC is a coalition of local nonprofit organizations: The African American Alliance for Homeownership (AAAH), Hacienda CDC, and Portland Community Reinvestment Initiatives, Inc. (PCRI). MHAC is dedicated to promoting minority homeownership through culturally specific homebuyer education and counseling services that are offered in both in English and Spanish; the coalition also works to reduce the increasing number of mortgage foreclosures. MHAC recently received funds from the Portland Housing Bureau to provide direct financial assistance loans for up to 16 qualified households.
MHAC formed to directly address the challenges faced by communities of color in successfully pursuing homeownership. For more information: