Colorado-based CDFI to participate in the SmartMH program
LOUISVILLE, KY – Thursday, May 31 – Next Step® Network is pleased to announce that Funding Partners, a CDFI that creates access to capital and credit within underserved markets throughout Colorado, is joining Next Step’s efforts to promote sound financing options for manufactured home buyers.
“We are thrilled to have Funding Partners join our expanding network of banking and financial institutions dedicated to advancing manufactured home lending,” said Stacey Epperson, president & founder of Next Step Network. “Leveraging their existing manufactured home lending efforts with our network, programs and resources, we can further expand access to better loans for more individuals and families looking to purchase a home.”
Funding Partners was certified as a CDFI by the U.S. Department of the Treasury in 1999. Since then, the organization has worked to coordinate, enhance and leverage resources to increase the affordable housing stock attainable to very low- to moderate-income families and individuals in Colorado.
“Joining the Next Step Network is huge advance for our organization as we scale our manufactured home finance program,” said Joe Rowan, director of programs and development for Funding Partners. “Manufactured homes have been integral to securing safe, comfortable and affordable housing for generations, though consumers have not always been provided adequate education and resources to be successful homeowners. We are very proud to associate our company with the dedicated professionals that make up the Next Step Network.”
Next Step works to bring energy-efficient, high performing and affordable homes to communities across the country. Next Step leverages expertise in the manufactured housing space to build relationships between leaders in the industry, nonprofit housing organizations, lending institutions and other key stakeholders to expand the use of factory-built housing as a viable, sustainable homeownership solution.
The SmartMH program connects qualified homebuyers with financial institutions and manufactured home retailers to increase access to affordable, ENERGY STAR® manufactured homes with fair financing. Freddie Mac has partnered with Next Step to grow the SmartMH program, while improving access to credit for prepared, manufactured home buyers.
About Next Step® Network
Next Step Network mobilizes a national network of mission-driven nonprofits, leaders in the manufactured housing industry and lending institutions serving home buyers and homeowners in their communities. Next Step’s system – Manufactured Housing Done Right® – connects responsible financing, comprehensive homebuyer education and delivery of high-quality, ENERGY STAR® manufactured homes at scale, creating a model that brings more value to the customer. Learn more at www.nextstepus.org.
About Funding Partners
An affiliate of Mile High Community Loan Fund, Funding Partners operates as a revolving loan fund that extends credit to low and moderate income households across Colorado. Through an extensive network of public, private and non-profit partners, the organization helps develop customized loan products while providing loan origination and portfolio servicing tailored to address unique needs within the community. Learn more at www.fundingpartners.org.