As mortgage rates and demand create major barriers for potential home buyers trying to find homes in the competitive North Texas housing market,is launching a new benefit to help their employees that may also help the nonprofit compete for top talent.
"We had to ask ourselves at Habitat, you know our teammates pour so much into serving the communities that we strive to serve, what can we do to reinvest into our own people," said Blaine Cowart, VP of Homeowner Services for Dallas Area Habitat for Humanity. Cowart says the answer was to establish a new housing assistance program as an employee benefit. They named it the Welcome Home program. She explained that the nonprofit will use its $9 million gift from MacKenzie Bezos to provide down payment assistance and closing costs up to $13,000 in the form of a forgivable loan over a 5-year term for employees who meet income requirements.
"Housing is a cornerstone of so many other outcomes of our lives. So when an employer like Habitat makes an investment in their own employees to make sure that those employees cannot just access affordable housing but housing that is close to work, that's going to reduce their commute times and the stress for them," Cowart said.Download NBC 5 Dallas-Fort Worth
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