Full Cycle Lending
What is the greatest benefit of Full Cycle Lending?
Full-Cycle Lending is a system of borrowing, as well as of lending – a consumer –friendly approach that takes seriously the needs of lower-income buyers and the barriers they face in achieving the dream of homeownership.
It’s a process that benefits everyone.
Residents can overcome hindrances to ownership as the process is demystified, they save for a down payment and they secure their home and mortgages.
Lenders can invest with confidence about an owner’s ability to repay the mortgage.
Local government officials can take pride in watching neighborhoods change. More and more homeowners will stake a claim in their communities, enhancing the tax base and contributing to the overall community renewal.
The non-profit partnerships – NeighborWorks® Resource Group and other members of NeighborWorks® - have the satisfaction of seeing their technical services result in new homeowners. Full-Cycle Lending means a positive impact on communities.
What impact will Full-Cycle Lending have on the communities?
Full-Cycle Lending is a means, not an end. As this comprehensive system becomes more established, homeownership rates among lower-income families should rise. We believe this will cause neighborhoods to become safer, individuals to regain hope and a sense of belonging, and families to reclaim their schools, their streets, and their economic strength.
By stimulating reinvestment in, NeighborWorks® communities, Full-Cycle Lending can be a powerful force that will lead to a renaissance in lower-income neighborhoods across America.