Creating Stable Homes and Strong Communities
One thing we can all appreciate is the meaning and importance of home. Home is where we celebrate life’s milestones. It’s where we find comfort during tough times. It’s where we create the memories and live the experiences that make us who we are. Home stability supports family security, which in turn supports economic security and consistency. Home stability is crucial to strong communities and strong economies.
Twin Cities Habitat for Humanity works tirelessly to make those opportunities possible for families and to unlock the potential in local children with big dreams.
In 2017, Bremer Bank partnered with Twin Cities Habitat for Humanity to launch a homebuying program that has transformed how Habitat serves its communities, doubled Habitat’s impact, and today serves as a worldwide model for Habitat affiliates. Called the Home Loan Impact Fund, the program works based on a commitment from Bremer to purchase 500 below-market Habitat mortgages over the course of four years. The below-market interest rate provided by Bremer helps to subsidize the affordability gap, and more than doubles the number of local families who can partner with Twin Cities Habitat on affordable homeownership. It is the largest single bank partnership for any Habitat affiliate in its history. Three years into the program, Bremer has purchased 317 loans, totaling approximately $55 million.