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Advancing Communities Through Homeownership
Cinnaire’s Advancing Communities Through Homeownership program was created to provide an opportunity for Detroit families like yours to own your home. For the past two years, we have successfully sold more than 60 homes through this program, many in your neighborhood, and we want you to be the next homeowner.
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Advancing Communities Through Homeownership
Why Homeownership Matters
The benefits of homeownership are indisputable – Healthier families. Better educational outcomes. More secure communities. Generational wealth created. Since it first launched in Cleveland, this program has provided the opportunity for more than 1,300 low-income rental families to purchase their own homes. And, with the tools and training the program provides, more than 99% of them have stayed in their home for at least 5 years.
Tools for Success
Our Single Family Lease Purchase Program as an anti-poverty and economic security strategy
- Home Ownership Preparation
- • Families work with housing counselors and take home-ownership classes to ensure they are prepared and mortgage-ready to become homeowners.
- Equivalency Principle
- • The “equivalency-principle” maintains a family will succeed as a homeowner as long as the cost of homeownership (including insurance and taxes) does not exceed what they had previously paid in rent.
- Program Qualifications
- • On-time rental payments
- • Cash Savings
- • Homebuyer Educational Courses
- • 40% Debt-to-Income Ratio
