Fort Collins, CO, September 21, 2009 - Funding Partners, a non-profit financial institution is pleased to recognize JPMorgan Chase & Co. for its generous support of affordable housing needs in Colorado.  

 

Chase has awarded Funding Partners $15,000 to help offset overhead expenses attributed to the House to Home Ownership (H2O) Down Payment Assistance Program®. 

 

“Helping families achieve economic self-sufficiency through responsible home ownership is a goal we share with the H2O® program,” said Jill Barkin, Vice President and manager of Community Relations and Philanthropy for JPMorgan Chase in Colorado.

 

H2O is a revolving loan fund providing first time home buyers with down payment and closing cost assistance up to 5% of the home purchase price.  This allows many low to moderate income households to afford the American dream of homeownership.  Since 1999, the H2O program has issued 1,131 loans to Colorado households earning less than 80% of the Area Median Income; approximately equivalent to earning $18 per hour, or less.  This represents over $8.5 million in loan production for the program. 

 

“Chase has a long history of strong partnerships with Funding Partners and other Colorado homeownership assistance programs,” said Ron Schneider, current FP Board President and retired Regional President of Northern Colorado for Chase understands the value of collaboration to successfully bridge families into homeownership. “The H2O program provides access to low-cost capital that makes our housing inventory more affordable to our workforce statewide. Promoting neighborhood stability and encouraging personal investment helps everyone in the community.” 

In addition, Chase recently named Funding Partners a designated coordinator for REO property purchases in Colorado through the National Community Stabilization Trust First Look and Bulk Purchase Programs.