M&T Bank awards grant to affordable homeownership program
Milford Housing Development Corporation, one of Delaware’s leading nonprofit affordable housing providers, has been awarded a $10,000 grant from M&T Bank to help very low- to low-income families build a home of their own through MHDC’s Self-Help Housing Program.
Working in groups of five to seven, self-help families spend Saturday, Sunday, and Monday evenings building their own homes. Home construction typically takes 10 months to complete, which is followed by post-occupancy homeownership counseling. Participants complete four weeks of construction-based training, provided by MHDC staff, to provide them with the skills necessary to build their home.
David Moore, MHDC president/CEO, said, “Thanks to our partners like M&T Bank, MHDC is better able to serve those who are in need of affordable homeownership opportunities. M&T Bank’s commitment to affordable housing and to our mission is truly appreciated.”
Since 1997, MHDC has offered the Self-Help Housing Program as an alternative path to homeownership for families who might not otherwise be eligible through traditional avenues. The Self-Help Housing Program utilizes a sweat equity model to homeownership for very low- to low-income families. It is the only federally funded homeownership program specifically for rural America. MHDC is the only agency in Delaware operating the Self-Help Housing Program.
For more information about MHDC, go to www.milfordhousing.com or call 302-422-8255.