From Fannie Mae’s recent $2-trillion new home mortgage commitment to affordable housing to your local Habitat for Humanity’s latest project, important investments are being made which will enrich the lives of countless Mississippians working for homes of their own. And affordable housing is great for our state’s economy.
Fannie Mae, the federally-chartered home lender which is shareholder-owned (NYSE: FNM), announced several weeks ago that it wanted to produce $2 trillion in new home mortgages in the coming decade. The company’s Jackson office has met the challenges of the Mississippi housing market with unique programs, including home-buyer counseling and support for teacher homeownership. Fannie Mae has also targeted down payments as one of the more significant stumbling blocks for potential home owners in the state, and it has initiated an exceptionally low down payment plan for first-time buyers.
Fannie Mae has helped thousands of Mississippians along the road to home ownership, and it’s new commitment should help thousands more.
Habitat for Humanity, which has dozens of local chapters around the state, also continues its commitment to affordable home ownership. And it’s doing it with plenty of help from the Mississippi business community, especially folks in contracting and construction.
Studies have shown that neighborhoods with a high percentage of home ownership report lower crime rates. Home ownership has significantly positive repercussions throughout the economy, too. And, of course, it is part of that “American dream” deal, which we all value.
It is our hope that Mississippi business will continue to partner with organizations like Fannie Mae and Habitat for Humanity.