Community HousingWorks (CHW), a local nonprofit dedicated to helping people find home stability, recently announced the transfer of its homebuying programs to Springboard, a national consumer financial services nonprofit.
For more than 30 years, CHW has provided people with the foundation of a stable home through either its affordable apartment communities or its homebuying and lending services for first-time homebuyers. In recent years, demand for both these services has increased dramatically as working families struggle to recover from the economic downturn amid rising rents and skyrocketing home prices.
Against this backdrop, CHW made the decision to transfer the organization’s home buying operations to Springboard, which has the technology and expertise to support the expansion of these complex and tightly regulated services.
The new Springboard Home Loans results from the merger of CHW’s lending and home buying operations with Springboard, an organization with more than 40 years of experience in helping financially distressed consumers. Springboard has developed the technology to service tens of thousands of consumers monthly on behalf of financial institutions, government organizations and nonprofits. This platform, combined with CHW’s 30 years of experience in helping first-time homebuyers secure residential mortgages, enables Springboard Home Loans to scale quickly, broaden its reach nationally, and help more families buy homes and build brighter futures.
The organization is located in CHW’s former office in City Heights at 4010 Fairmount Ave., and will continue providing mortgage lending to help families obtain an affordable home loan.
Community HousingWorks will continue to develop and operate multi-family communities throughout California, with an emphasis on San Diego and surrounding areas. In addition to offering affordable apartment communities, CHW will continue to provide an array of services and support to residents, including financial coaching and counseling for adults, and educational programs and learning support for children.
By transforming into two organizations, CHW and Springboard Home Loans can sharpen their focus and amplify their impact. While this transition does allow each organization to expand its reach, both are committed to being actively involved in the City Heights neighborhood and will continue to proudly serve its community and residents.
To learn more or access services related to affordable rentals, visit CHW on the web at chworks.org or call the toll-free number (888) 884-4249.
For more information regarding mortgage financing or homebuyer education, check out SpringboardCDFI.org or call the toll-free number (888) 983-2344.