DMAR and Habitat for Humanity Join Forces to Make Homeownership a Reality
Denver Metro Association of Realtors® (DMAR) - an organization comprised of over 8,000 real estate professionals and The Voice of Real Estate® in the Denver Metro area, is celebrating Colorado Gives Day by announcing a new, annual partnership with Habitat for Humanity of Metro Denver that will help aspiring homeowners make their dream of purchasing their first property become a reality.
Each year Habitat for Humanity of Metro Denver works to serve approximately 150 local families. Since their founding in 1979, they have served more than 1,350 families, equating to 5,400 adults and children. Specifically, Habitat for Humanity of Metro Denver’s homeownership program empowers individuals and families to build and buy their own homes. The program provides an opportunity for first-time homebuyers to get their feet into Denver’s competitive market. The organization partners with prospective homeowners to provide education and support throughout the entire process, from application to closing. To make this possible, Habitat for Humanity offers homes for sale through their program, as well as providing mortgages to residents across metro Denver.
“With Denver’s rising housing costs reaching record highs in recent years, becoming a first-time homeowner in our city has become increasingly difficult,” said Nobu Hata, CEO of the Denver Metro Association of Realtors®. “We are proud to partner with Habitat for Humanity of Metro Denver and develop solutions that will break down the barriers so many face when it comes to homeownership.”
As part of this collaboration, DMAR plans to support its mission by asking members to utilize Habitat for Humanity’s homeownership program. DMAR members, as part of the partnership, will also be encouraged to pre-schedule a gift to Habitat for Humanity of Metro Denver for Colorado Gives Day to support their partnership with them and help on the mission.
Homeowners are selected into the program based on criteria that begin with potential homebuyers demonstrating their housing challenges, such as lack of affordability, overcrowding, and income at or below the maximum allowed for their household size. Additional criteria include the ability to pay a 30-year fixed-rate mortgage with monthly payments not to exceed 30 percent of the homebuyer’s gross monthly income, homebuyer education classes, as well as a willingness to partner with Habitat for Humanity to build or renovate other homes alongside volunteers.
Members of the community can also help the cause by donating here. For more information, please visit dmarealtors.com. Follow the latest updates from the Denver Metro Association of Realtors® on Twitter (@DMARealtors using #dmarstats) and Facebook.