Real Estate in Faith Communities
Impact Urban America (IUA) believes that churches are the focal points of urban communities and as such, are the origins of urban transformation within their communities. IUA seeks to help churches and church members build equity in their communities, both in terms of a sense of pride and actual financial ownership through IUA’s Economic and Community Development Ministry.
Real Estate Services for Faith Communities: Include, but are not limited, to the following:
IUA partners with Urban Property Solutions (UPS) to form several programs with the goal of helping qualified urban residents achieve the dream of homeownership. UPS works to find below-market housing opportunities in urban areas through its relationships with banks and the brokerage community. UPS and IUA then seek out financing programs, such as FHA, VA and Fannie Mae’s HomePath, that help urban residents take advantage of current low mortgage rates, thus enabling residents to afford home ownership (in some cases) for a monthly payment similar to what they were paying in rent. Additionally, IUA and UPS offer workshops for urban community members to help them better understand the responsibilities of personal finance and the advantages and disadvantages of homeownership, as well as to address their individual issues and questions regarding real estate values, strategies, and solutions.
IUA and UPS also serve the churches themselves by assisting them in building economic sustainability through acquiring REO assets within a close proximity of the church. This strategy can allow urban churches to achieve economic self-sufficiency and simultaneously provide long term, temporary and other kinds of “specific needs housing” and services for community members in need.