About Our Homeownership Program
CHN is nationally known for its Lease Purchase Program, a 15-year pathway to home ownership for low-income families. In 1987, we took the model to scale linking the Low Income Housing Tax Credit (LIHTC) with purchase opportunities. Since that time, we have developed over 2,189 homes for the program. In 2016, our 1,000th family took the title. Today CHN is the nation’s largest single-family affordable housing developer using the LIHTC. We maintain an 80% transition rate in moving families from leasing to owning and a 99% success rate among families who become homeowners.
Read about our work in Affordable Housing Finance Magazine.
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Our Family Success Initiative
To ensure our lease purchase families are successful as homeowners, we engage them in deep financial counseling for 5 years leading up to home ownership. Called Family Success, this work combines long-term counseling and coaching, service integration, multiple touch points per year, and documentation of a family’s financial changes.
This work has helped our residents to reduce more than $1,000,000 in debt among other significant financial improvements.
We receive extensive interest in this model because of our ability to keep families engaged and document financial improvements over a long period of time.