HAN member Intermountain Healthcare announced a new partnership with Rocky Mountain Homes Fund to provide affordable, stable housing options in Weber County in Utah. The new project addresses the SDOH in underserved communities by removing barriers to affordable home ownership such as the lack of down payments and higher mortgage interest rates for those without good credit.
From the article:
Each family is carefully vetted to ensure the program is right for them. They are not required to make a down payment. Their monthly payments are based on affordable interest rates and are stable for up to 10 years regardless of market fluctuations. And, as the families make their monthly payments and the home increases in value, they participate in the equity generated. This provides them with a powerful vehicle to accumulate wealth during the 10-year period of the program.
“Rocky Mountain Homes Fund provided us with a great opportunity to improve the health of the community by addressing housing instability for essential service workers in Weber County,” says Nicholas Fritz, Impact Investing director for Intermountain.
|See also: HAN’s Invest Health article on our placed-based investing case studies
|See also: HAN’s Place-based investing case studies, including Intermountain Healthcare’s Local Impact Investing