Homeownership Incubator Program (HIP)
AHNI’s Homeownership Incubator Program is a single-family housing rental program that is designed to be a “home ownership incubator,” helping renters prepare for home ownership.
The program offers special benefits to renters; who are required to actively participate in the Homeownership Program requirements at all times while renting their new home. Once an adequate down payment is saved and your credit profile is achieved, you will be ready for homeownership! The home you rent will be yours to purchase.
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How it Works
Each month, residents in the AHNI Homeownership Program who are current on rent with no outstanding fees or fines will receive $100 in an escrow account to use as a down payment on the home they are living in. Also, as part of the lease agreement, renters will be required to participate in a Homeownership Program offered by Horizons Consumer Credit Counseling Services. Horizons Consumer Credit Counseling Services are an integral part of assisting participants on the path to becoming a homeowner. Common activities in the Homeownership Program include improving your credit score, debt management, taking homeownership courses, and creating a plan to save for down payment and closing costs associated with purchasing a home
Participant Expectations
As an AHNI Homeownership Program participant, renters are expected to keep their home clean and maintain the home and property. This includes routine maintenance, snow removal, lawn care, and minor repairs to the home. Residents are also expected to pay all utilities, participate in the Homeownership Program at all times while renting, and comply with all applicable rules and regulations outlined in the AHNI Lease, Homeownership Incubator Program Lease Addendum, Program Participation Agreement & House Rules and all addenda.