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Housing nonprofit marks five years by launching new rent-to-own program
March 4, 2021 2
This house on North 30th Street in Church Hill is the first built specifically for the rent-to-own program.
(Photos courtesy of MWCLT)
On the heels of its fifth year in existence, and its third providing houses for lower-income residents, a homegrown nonprofit is marking the occasion with a new program aimed at broadening its reach for facilitating homeownership.
The Maggie Walker Community Land Trust has launched a new rent-to-own program that’s aimed at helping renters prepare to become homebuyers.
Called the Homeownership Bridge program, it uses grant funds awarded through the City of Richmond’s Affordable Housing Trust Fund to set aside homes specifically for would-be buyers who do not currently qualify for a mortgage, be it due to a low credit score or an inability to afford a down payment or pay closing costs. ....

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