Strengthening our Neighborhoods, One New Homeowner at a Time
How can YOU change the future of your Neighborhood? Your City? TOGETHER.
Within the context of a network of individuals, organizations, and businesses, Emmanuel House exists to disrupt the cycle of generational poverty and rebuild communities. And WE NEED YOU.
Do you own your home? Do you aspire to? Were you raised within the context of an owned home? For many of us homeownership is an expectation. A rite of passage. And something that we have come to believe is normal after generations of homeowners within our own families and communities.
Within the last year, homeownership rates across the country dropped to the lowest since 1965. Economists explain this steady and drastic decline since The Great Recession as largely due to housing affordability.
Unfortunately, more and more hardworking individuals and families are unable to save for the downpayment needed to purchase a home, and instead resort to paying ever-increasing rental costs. While renting an apartment or home can be a necessary transition for some, for others renting becomes a permanent and defining factor for one's future aspirations.
When you join Emmanuel House's Sponsorship Network, you are joining hundreds of others who also believe in the potential that homeownership has to transform individual lives and whole communities. With your monthly donation, you become a Partner in our mission to disrupt the cycle of poverty one life at a time!
Your tax deductible gift covers operational costs at Emmanuel House, making it possible for families to save majority of their market-rate rent in a savings account to be used toward their first home in Aurora. Your gift transforms lives and neighborhoods in the community.
Working-class poverty is a trap. Owning your own home is the way out. The United States has one of the lowest rates of "intergenerational mobility" in the world. Someone who grows up poor is far less likely to finish high school and move on to college. That means their children will probably grow up poor as well. So unstable neighborhoods remain unstable. And the cycle of poverty continues. Emmanuel House makes it possible for a working family to save for a down payment on a home -- while still paying market-rate rent. This turns permanent renters into permanent homeowners. And that changes neighborhoods, communities and lives -- for generations to come. The goal of Networked Saving is to break the cycle of poverty and stabilize Aurora families and community through homeownership. Networked Saving makes it possible for a low-income working family to save for a downpayment on a home while still paying market-rate rent. We leverage existing resources (investors, churches, participants, sponsors) to operate apartments as saving units for families to live in for 18 months while they save their rent, and undergo homeowner education. Participants exit the program ready to buy a home, an asset that has the power to break the cycle of poverty and stabilize neighborhoods. Poverty alleviation strategies often focus on either the poor taking on greater personal responsibility or in providing more aid & assistance. But, we think there is a third way. EH does not distribute aid or a social service. Instead we provide a financial model that allows those stuck in a cycle of poverty to become the central players of a growth solution that benefits the entire community. Our funding model is unique. We harness existing resources in the community by directing rent dollars already being spent by low-income families back into their hands, eliminating the largest barrier to homeownership - a down payment. We do this by operating apartments as temporary Saving Units through a network of volunteers, churches, & investors who earn a financial & social bottom-line.