City First Homes is a leading 501(c3) nonprofit housing organization that works with households to leave the cycle of renting, and achieve stable, affordable homeownership. Through support from local government, foundations and private organizations we are able to lower the barriers to homeownership by requiring a lower cash payment at time of purchase and reducing monthly mortgage payments through financial investments.
The program helps to make homeownership a reality and creates wealth-building opportunities for individuals who might not otherwise have access. In many instances, participants in our program realize the dream of homeownership much faster than they would have on their own.
The key difference between City First Homes and other traditional homeownership programs is an innovative-shared appreciation model to create permanent affordability in housing. Long-term affordable homeownership programs are more cost-efficient than traditional loan programs. They magnify the social impact of the public’s investment and serve more people. By investing in a home and limiting a portion of appreciation at resale, City First Homes ensures that homeowners build wealth and the home can be sold again and again to low- and moderate-income households.
City First Homes is modeled after the long legacy of nonprofit Community Land Trusts. There are currently over 250 community land trusts all across the country serving large and small cities and City First Homes is proud to be part of the movement.