It is no secret that real estate on Long Island is some of the most expensive in the state of New York, let alone within the country. Combine that with recent challenges related to the COVID pandemic and home ownership may feel like a far-off dream for many.
There is hope however, thanks to a recent $2,500 donation from Suffolk Federal to support Community Housing Innovation’s Homeownership Counseling & Education Program. The donation will enable Community Housing Innovation (“CHI”) to continue the efforts to empower and support families interested in homeownership throughout Suffolk County to achieve their dream.
As a long-time trusted community institution with 10 convenient locations, Suffolk Federal offers its members competitive rates and fewer fees to support financial freedom. Likewise, CHI offers counseling to hundreds of families, assisting with everything from home affordability analysis and the creation of a purchasing strategy and budget to homebuyer education classes and foreclosure prevention sessions. Together, the partnership between Suffolk Federal and CHI will empower people to make smart sustainable homeownership choices.
“The biggest and most important financial investment a person will make is usually the purchase of a home,” explains Michele Dean, Suffolk Federal President & CEO. “At Suffolk Federal, we recognize that each individual has his or her own financial story so we are committed to providing access to timely information, innovative, customized tools and important services which will benefit each individual’s particular financial situation. We want to support potential homebuyers as they achieve the ‘American Dream’ and strongly believe it is vitally important that we empower them through in-depth educational programs, such as those which CHI offers, so they can effectively navigate through this complex process,” she continued.
“Thanks to Suffolk Federal’s generous donation, CHI will bring the dream of homeownership to more families on Long Island,” said Alexander Roberts, CEO of Community Housing Innovations. “CHI looks forward to our continuing partnership with Suffolk Federal.”
In addition to CHI’s counseling and educational program for first time owners, the organization also offers down payment and closing cost assistance for income-eligible households on Long Island as well as for those in Westchester and the Hudson Valley.