Chicanos Por La Causa and Raza Development Fund Partner to Make Homeownership Attainable
Phoenix— Two Arizona-based national Latino-focused organizations partner to increase homeownership access by supporting eligible first-homebuyers with down payment and closing cost assistance. Chicanos Por La Causa (CPLC) and Raza Development Fund (RDF) unite to match forgivable funds up to $30,000, subject to program requirements, in collaboration with the Federal Home Loan Bank of San Francisco’s Workforce Initiative Subsidy for Homeownership (WISH) program.
“The dream of owning a home can become reality when valuable resources like the WISH Program are available to the community,” said Patricia Duarte, CPLC Executive Vice President of Homeownership Initiatives. “CPLC and RDF’s partnership invests in creating an environment where sustainable, affordable homeownership flourishes in our neighborhoods.”
The FHLB of San Francisco’s WISH program aims to help families overcome the most significant barriers to homeownership and build wealth through participating financial institutions, like RDF.
A Community Development Financial Institution, RDF connected with CPLC to bring this funding opportunity directly to individuals they serve. For more than 40 years, CPLC has provided housing counseling services and recently began offering mortgage loans through the CPLC Home Lending program.
“The WISH program empowers us to enhance CPLC’s home lending initiatives, expanding access to homeownership for individuals and families. At RDF, we are proud to partner with such a dynamic nonprofit to create better pathways toward sustainable futures,” said Annie Donovan, RDF’s President & CEO. “By working together, our organizations are driving equity and building stronger communities through the power of homeownership.”
RDF and CPLC are supportive partners in UnidosUS Home Ownership Means Equity (HOME), a new initiative that seeks to influence systemic change and catalyze the creation of four million new Latino homeowners by 2030. Both organizations aim to advance HOME through the WISH program.
The WISH funds will be dispersed through CPLC’s Home Lending program.
To qualify for WISH, individuals must:
- complete a homebuyer counseling program
- be a first-time homebuyer
- meet income eligibility guidelines and be at or below 80% of the HUD area median income
- contribute to the home purchase through savings or gift funds to obtain the matching grant
- open escrow on a home purchase transaction within one year of enrollment in the WISH Program.
“I am so thankful the WISH Program helped me achieve my dream and set an example of homeownership to my daughter. Our home will be at the center of creating many lifelong memories,” said Selena Gonzalez, a first-time homeowner through the CPLC and RDF WISH partnership.
Funding is limited, but available on a first come, first served basis. For more information, potential first-time homebuyers may visit cplchomelending.org or call 602-805-8844.
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About Raza Development Fund:
Raza Development Fund (RDF) is the largest national, Latino-focused nonprofit Community Development Financial Institution (CDFI). Driven by a mission to close wealth and opportunity gaps in Latino and other under-resourced communities across the United States, RDF provides responsible and attainable financial solutions to community-based organizations focused on health, education, affordable housing, climate resilience, homeownership, and entrepreneurship. RDF was founded in 1999 as a support organization to UnidosUS, the nation’s largest Hispanic civil rights and advocacy nonprofit, formerly known as the National Council of La Raza. As a testament to its exceptional financial strength and impact, RDF stands out as one of the few CDFIs with a prestigious AA- S&P rating. Since its inception, RDF has invested more than $1.5 billion across 38 states and Puerto Rico leveraging over $6 billion in additional capital.
About Chicanos Por La Causa:
Chicanos Por La Causa (CPLC) is a community development corporation that provides services in Arizona, California, Colorado, Nevada, New Mexico, and Texas. Since 1969, CPLC has been changing lives by developing self-sufficiency and instilling empowerment in those we serve. Our focus areas are advocacy, economic development, education, health & human services, and housing. CPLC provides a better life through offering business and employment opportunities; ensuring everyone has the solid foundation of an education; providing hope through a pathway of recovery, restoration, and resiliency; and ensuring that a safe, secure, affordable home is available to every individual we serve. Today, we have more than 30 programs & services, approximately 2,000 employees and 160 locations making CPLC one of the largest community development corporations in the nation. For more information, please visit CPLC.org.
