In September of this year, Bank of America announced its Community Affordable Loan Solution pilot program aimed at helping eligible individuals and families obtain an affordable loan to purchase a home in a majority Black or Hispanic community in the Miami-Dade metro area. As a HUD-certified housing agency, we partnered with Bank of America on this initiative to provide counseling & homebuyer certification for those homebuyers wanting to apply for the program.
After three months of intense work, our Center for Homeownership Education has been able to achieve the following metrics:
- Our team provided four Q&A virtual sessions informing consumers about the program guidelines and NHSSF collaboration
- 295 households have attended an NHSSF certified Homebuyer Workshop, the first requirement to apply for the BofA program
- 88 households have been counseled as part of their journey towards homeownership through the CAFL
- 22 households have been referred to Bank of America to continue, and hopefully complete their dream of owning their first home
- 66 customers have been placed into an NHSSF Financial Capability Coaching Program to enhance their opportunities of becoming future homeowners
In other great news, we just learned about a couple that became homeowners through Bank of America’s program and were educated and counseled by us! On October this year, Johnny and his wife Daniela signed up for the certified Homebuyer Workshop with us. After attending the 8-hour class and meeting with one of NHSSF's housing counselors, they received a certificate that qualified them to apply for the Bank of America new Community Affordable Loan Solution program. Thanks to this loan they were able to purchase their first home and celebrate their honeymoon knowing they’d come back to their own love-nest. We asked them about their homeownership journey. They shared a testimonial with us.
If you want to apply for Bank of America’s program and you want to take the education and counseling with NHSSF, the first step is creating an account here: