Wealth Opportunities Realized Through Homeownership (WORTH)
Black, Indigenous and Persons of Color (BIPOC) have much lower homeownership across New York State. BIPOC households generally have lower incomes than white households and are less likely to inherit wealth that can help with buying a home. These disparities have been further worsened by the COVID-19 pandemic. Addressing the issue of BIPOC homeownership in New York is crucial given these stark realities. To tackle this challenge, the Wealth Opportunities Realized Through Homeownership (WORTH) BIPOC Initiative has launched the New York City WORTH Collaborative. Their goal is to establish and preserve homeownership for 5,000 BIPOC individuals in New York City by the end of 2025.
The New York City Homeownership Network (NYCHN) led by LISC NY, Neighborhood Housing Services of NYC, and The Center for New York City Neighborhoods, addresses challenges in establishing and maintaining homeownership for BIPOC individuals. Supported by Wells Fargo's Wealth Opportunities Realized Through Homeownership (WORTH) Initiative, NYCHN leverages decades of experience in providing housing counseling, legal support, down payment assistance, and financial coaching to empower BIPOC families. NYCHN's mission is to foster stability and economic security within these communities across New York City.
Services include
Homeownership Education
- Program Description
- Eligibility Requirements
- First-time Homebuyer Education
- Technical Assistance
- Financial Education Seminars
- Legal Counseling
- One-on-One Coaching
- Credit Counseling
- Referral to brokers and appraisers
- Lending
- Prequalification
- Mortgage Assistance & Information
- Down Payment Assistance
- Closing Cost
- Preservation
- Home Repairs
- Foreclosure Prevention
- Loan Modification
- Property Tax Assistance
- Title and Deed Transfer
For additional details about the NYC Homeownership Network and to explore resources, courses, and other offerings, please click here.
Partners
- Neighborhood Housing Services of NYC
- The Center for New York City Neighborhoods
- Goldstein Hall PLLC
- MoCaFi
- Bedford Stuyvesant Restoration Corporation
- The Bronx Neighborhood Housing Services CDC
- Chhaya Community Development Corporation
- Harlem Congregations for Community Improvement
- Neighborhood Housing Services of Staten Island
- NYC Housing Partnership
- Bridge Street Development Corporation
- Moravilla
- Le Bon Service LLC
Funders
- Wells Fargo
