Creating economic opportunity
Habitat helps families increase their financial security
We invest in people’s futures when we invest in housing.
All future Habitat homeowners complete a financial education program that helps them build a solid foundation for long-term personal success. Habitat keeps homes affordable through vehicles such as low-interest mortgages and small loans, volunteer labor and greater energy efficiency.
Greater affordability has a lasting impact. In Latin America and the Caribbean, 45 percent of people completing Habitat’s financial education workshops report that they immediately began saving for their futures. In a 2016 study by Georgia Tech’s Center for Economic Development Research, four of five participants say they feel more financially secure, and 71 percent say they’re better able to pay bills on time. The money saved on housing often is invested in training, education and other enrichment opportunities.
“At a time of growing income and wealth inequality, economic mobility provides a frame through which to consider the potential of housing policy to change the trajectories of individuals and communities.”— Urban Institute’s Pamela M. Blumenthal and John R. McGinty
In addition to building and repairing affordably, Habitat also works with partners across the globe to facilitate more inclusive housing market systems, making affordable housing possible for millions. Our Terwilliger Center for Innovation in Shelter helps make microfinance loans and housing support services available to those families who have no access to traditional mortgages, and we work to help grow and expand local housing market systems — financing, services, products — to make sure that more households can improve their shelter more effectively and efficiently.
The benefits of decent and affordable housing transfer to society at large. When families have the stability necessary to build pathways to their own economic success, whole communities can prosper.