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Lasting Affordability
We recently adopted a new model to keep housing affordable for the long-term benefit of our community. In addition to ensuring the homes we are building remain affordable for additional low-income families for years to come, we are initiating a new program to help Habitat families beyond their move-in date, supporting them in becoming successful homeowners and building generational wealth.
Community Letter
Dear neighbor,
For 40 years, the Greater Lycoming Habitat for Humanity (GLHFH) has been dedicated to providing safe, decent, affordable housing. This holiday season, we invite you, our valued community members, to join us in our mission. Your support is integral to our success and directly impacts the lives of those in our community who need affordable housing.
We are currently building eleven (11) homes for low-income, first-time homeowners. Economic conditions - primarily inflation's impact on labor and materials costs - continue to impact our construction budget. These new projects - seven (7) in Williamsport and four (4) in South Williamsport - are much higher than the current area market rates. Our model of partnering with low-income, first-time homebuyers and providing them with a mortgage is only possible because of significant subsidies, including your contributions. Also, investing these dollars into construction for only one family dramatically limits our ability to have any impact on addressing the ever-increasing need for this type of housing. We have created a plan to address these issues.
Our new Path to Homeownership (PHP) program is designed to support families in becoming successful homeowners, building generational wealth, and ensuring that the homes we are building remain affordable for additional low-income families for years to come. This change is not just about housing but also about creating a stronger, more stable community. The key to this change is shared equity housing, an increasingly used model for affordable housing.
Shared equity housing (SEH) strategies establish lasting affordability, create community control, and build wealth for people with limited incomes. SEH organizations keep housing affordable for the long-term benefit of a community rather than seeking profits for the short-term use of individual owners. With our shared equity program, we can help first-time home buyers be better homeowners while creatively keeping this property available for additional low-income families.
Rather than selling all future projects outright – families will jointly purchase the home with GLHFH. Living in the house as their primary residence, they will collaborate with our team, participating in skill building, home maintenance, and, where necessary, integration with other community services. For this agreement, they will receive - annually - the total amount paid towards all monthly non-escrow payments and their share of the accrued value of the home.
When families are prepared to move to the next step - we will help them secure a conventional mortgage using their accrued equity and improved financial understanding from participating in the program. Once they vacate their Habitat home, we will refresh it, making it available for a new family.
We are excited about this new approach and look forward to its impact for years to come. For each home we are building, we estimate that we will be able to partner with three to five families – instead of just one. This means we could potentially help thirty to fifty families with our current eleven (11) home-building campaign over the next thirty years. We are counting on you to see the benefits of this shift in our direction because we need your support to make this happen. Government dollars—your tax dollars—only cover a portion of our total costs. We depend greatly on our community and believe our path forward will be a wise investment in creating a better place for all of us to live.
I want to express my gratitude for our community’s ongoing commitment to our shared vision. If you have any questions about this information, please do not hesitate to reach out to me.
Thank you.
Sincerely,
Bob Robinson
Executive Director
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