The Home Loan Impact Fund Celebrates 500 Closings [VIDEO]

Twin Cities Habitat for Humanity and Bremer Bank marked a major milestone in our partnership by celebrating 500 loan closings as part of the Home Loan Impact Fund. Our strong partnership allows TCHFH Lending, Inc. to provide low, fixed interest rate mortgages that are sized so families pay no more than 30% of their income on housing.

Asia’s Journey to Homeownership

On a joyous and emotional day in December, 2022, Asia Fitzpatrick became the 500^th homeowner to close on her home as part of the Home Loan Impact Fund. A single mom of three children, Asia had been working towards homeownership for more than five years. She even promised her kids she would one day get them a house they could call home. Through Twin Cities Habitat, an opportunity came for Asia to purchase a home on the open market.

"I made this promise to him when he was four; he's 11 now," Asia says. "With the help from you guys, I got to keep that promise." 

Watch Asia’s moving testimonial below in which she describes what homeownership means to her and her family.

Purchasing a first home is a life-changing event. Not only is Asia’s life impacted, the lives of her children are impacted. For the first time, each child will have their own room, and their own space for playing, doing homework, resting, and being creative. And for the first time, the whole family will experience life without the fears and instability that comes with renting.

Thanks to the Home Loan Impact Fund, Asia has a TruePath Mortgage with a low, fixed interest rate, and her monthly payment will never be more than 30% of her income for the life of the loan.

About the Home Loan Impact Fund

In 2017, Twin Cities Habitat for Humanity set a bold goal to double its impact to serve more families than ever before - reimagining how nonprofit organizations and banking institutions work together in partnership to intentionally remove systemic barriers for families in the Twin Cities. TCHFH Lending, Inc. was created to provide affordable mortgages and find lending partners like Bremer.

The Home Loan Impact Fund was then established between TCHFH Lending, Inc. and Bremer Bank. The fund provides below-market interest rate mortgages to low and moderate income households across the seven-county metro through Twin Cities Habitat’s True Path Mortgage, a product of TCHFH Lending, Inc.

The unique fund unlocks pathways to homeownership and creates opportunities for families to build generational wealth. This is one example of how actionable partnerships can truly close racial gaps in housing. The partnership also deepens the impact to close gaps in other Minnesota disparities, such as healthcare, education, safety, and overall quality of life.

Bremer Bank recently renewed its commitment to the Home Loan Impact Fund, agreeing to purchase up to $125 million in mortgages over the next three years. This makes it the largest Habitat banking partnership in the country.

The journey of homeownership became a reality for Asia and her kids, and Twin Cities Habitat for Humanity is proud to share this moment to build forward together and celebrate the transformational power of home!