A New, Responsible Approach to Mortgage Lending

The Responsible Homeownership (R-HOME) Initiative is an innovative, comprehensive mortgage loan program created to better serve the needs of consumers with little or no traditionally reported credit history — a widely under-served population.
 
R-HOME provides:
  • increased access to stable, 30-year, fixed-rate mortgages by streamlining and automating the process for evaluating and verifying consumer creditworthiness (by looking at payment history for rent, child care, tithing, etc.).
  • upfront and ongoing counseling and support to minimize foreclosure risks.
  • a less expensive mortgage option than current mortgage products typically offered to this consumer group.
 

The keys to R-HOME's success and uniqueness are an innovative alliance between the public, private and nonprofit sectors, new online tools and processes that effectively evaluate consumers with limited credit histories, and ongoing borrower support to help maintain responsible financial performance.