GSECDC/NJCC

Homeownership is the first step to building wealth and remains a critical focus of the HCEDC’s mission to serve the community and strengthen Hudson County’s local economies. Partnerships with New Jersey Community Capital, the state’s largest community development financial institution and Garden State Episcopal Community Development Corporation in Jersey City help make the dream of ownership a reality for many low-income families. By providing budgeting, pre-purchase, and credit counseling with access to low-cost mortgage loans through affordable homeownership mortgage programs like Address YourselfTM, the organization paves the way to financial stability.

“The HCEDC down payment assistance grant of $12,500 per house further assisted families in covering down payment and closing costs so

that they can advance to homeownership. This partnership helps to narrow the wealth gap for low- income New Jerseyans helping to create equity and furthers our goal to end the cycle of poverty here.” 4 OPENING DOORS WITH Garden State Episcopal Community Development Corporation and New Jersey Community Capital shared Carol Mori, GSECDC Executive Director. Qunita Whitely recently closed on her home with assistance from the program. “I’m grateful for the $15,000 grant. I have over $100,000 of student loan debt and without this grant money, I would not have been approved for my mortgage. The process took longer than usual and Daniel was extremely helpful and patient throughout the process. This is my first home and means a lot to me. I come from a middleclass family and most don’t have a degree or even own a home. I don’t want to sound like a cliché, but this is definitely a dream come true.” HCEDC worked together with GSECD “Partnership is the key to achievement. HCEDC and NJCC to enable homeownership and NJCC worked together to enable homeownership for first-time homebuyers in Hudson County. for first-time home buyers in The contributions of both organizations made this Hudson County. program a success. By listening to one another and working collaboratively, we were able to make homeownership a reality for many low-income families. The power of this partnership proves that true partners are more than the sum of their parts.” NJCC President, Wayne Meyer shared.