New Program Guides Wilmington Residents to Homeownership
Cinnaire Solutions has partnered with Stand By Me Delaware to help Wilmington, DE, residents achieve the dream of homeownership. The program offers free, private, one-on-one financial coaching from trained professionals who help potential homeowners achieve their goals. With support from a financial coach, participants in the program will learn how to improve their credit score and have the opportunity to purchase a brand-new townhome featuring 3 or 4 bedrooms and starting at less than $99,000.
“We’re excited to join forces with Stand By Me Delaware to launch My New Wilmington Home, an impactful program designed to address barriers to homeownership by creating affordable housing options for Wilmington residents,” said Christopher Laurent, Cinnaire Solutions President. “From supporting healthier families and creating better educational outcomes, to creating generational wealth and more secure neighborhoods, the benefits of homeownership positively impact individuals, families, and communities overall. We’re grateful to our many program partners for supporting the launch of My New Wilmington Home.”
Through one-on-one support from a financial coach, participants in the program will learn how to meet the criteria to qualify for a mortgage for one of the new townhomes in the My New Wilmington Home portfolio. After working with a Stand By Me coach to become mortgage ready, participants will work with a housing counselor to walk step by step through the purchase process and learn how to access special programs for down payment and settlement assistance.
Project partners include: Architectural Alliance, Breckstone Architecture, Central Baptist CDC, the City of Wilmington, Delaware State Housing Authority, Delaware Valley Development Company, Energize Delaware, and New Ecology.
Stand By Me is a joint project of the State of Delaware and United Way of Delaware working together to combine resources to create and implement an innovative package of financial empowerment services.
To learn more about My New Wilmington Home, please click here.
Christopher Laurent
President, Cinnaire Solutions
(608) 234-5291
About Cinnaire
Cinnaire is a non-profit financial partner that supports community and economic revitalization initiatives through creative investments, loans, and development services. Since 1993, Cinnaire has invested $4.7 billion to develop 811 housing communities in 10 states, providing 49,700 affordable apartment homes for more than 100,000 individuals and families, and has provided community development loans to support the creation/retention of more than 187,000 square feet of commercial, mixed-use, and community space. In its mission to change lives and transform neighborhoods into thriving communities, Cinnaire has helped to create or retain over 76,000 jobs and spurt $7.9 billion in economic impact. www.cinnaire.com
