The final tally is in. Donations to Milwaukee Habitat eligible for Accunet’s matching challenge totaled $76,186. Employees, customers, vendors, real estate agents and even two competitors dug deep and made sure that none of Accunet’s $75,000 matching funds went unused.
Together, we raised $151,186, which is enough to get two new homes started in 2018 for two Milwaukee families who would otherwise never qualify to own a home. Thank you!
Our donations combined with those of other attendees of the annual Habitat fund-raising dinner on October 12 mean a total of three new home starts plus a major rehab will be added to the project list for 2018. That’s a record for the event.
Remember, Habitat for Humanity is NOT a giveaway program. Habitat homeowners are required to pay back a mortgage equal to the fair market value of the home (typically about $95,000) over a loan term that makes sure no more than 30% of their monthly income goes toward the house payment (including taxes and insurance). The rate on the mortgage from Habitat is lower than what even low-overhead Accunet could offer (it’s 0%), which is a big reason the cost of owning with Habitat is less than renting. Each monthly payment of principal goes right back into program to build the next house for another low-income Milwaukee family.
Additionally, the homeowners are required to invest between 300 (for single heads of households) and 500 hours (for couples) of genuine “sweat equity” in their home construction or the building of another Habitat for Humanity home. That’s 7 to 12 weeks of full-time labor at 40 hours per week which they somehow fit in while working their regular full-time job. They also complete extensive financial counseling and home ownership training.
Habitat improves the entire neighborhood. More than 215 families now have safe, affordable homes in Milwaukee’s Washington Park neighborhood thanks to Milwaukee Habitat and its donors. Crime has decreased 48% on the blocks where they’ve built and repaired homes, because home ownership not only improves the lives of the individual families, but everyone around them. Vacant lots and condemned homes are also returned to the tax rolls as property-tax-producing properties.
Milwaukee Habitat for Humanity is a well-managed, highly effective, self-sustaining force for good in Milwaukee.[elementor-template id=”10109″]
Want the Lowest Rate on Your Home Loan?
Let's Get Started!
You Might Also Like
Aenean sollicitudin egestas elit vel mattis. Proin non lorem arcu. Sed ornare venenatis sapien id iaculis. Etiam ultricies interdum commodo. Aliquam erat volutpat.