To promote homeownership, the Clearinghouse provides mortgage loans with no down payment and flexible credit requirements to low- and moderate-income families. In addition, to assist these families in preparing to purchase a home, we provide homebuyer education and credit counseling. We have already funded nearly $40 million in mortgage loans and have counseled hundreds of families. Complementing our mortgage lending program is our single-family rehabilitation program, through which we purchase foreclosed homes and rehabilitate them to sell to low-income families.
