Check out these challenging thoughts from Self Help Credit Union founder and CEO, Martin Eakes describing his thoughts on why homeownership loans to low income families are good risks. I would concur with Martin with Habitat's experience making mortgage loans to low-income families since 1976.
At Habitat Wake, we are able to provide homeownership opportunities to families earning between 30-60% of our area's median income (AMI). Our average homebuyer has an AMI of 38%, which translates to an annual income just below $30,000 for a family of four. Given that homeownership is indicated as the main way low-income families build wealth, Habitat's work has, not only immediate, but generational impact as well as a strategy for the alleviation of poverty.