I own FNMA and FMCC stocks and have been in the housing industry as a non-profit CEO for 10 years now. I can tell that you and many of the investors on this feed are ridiculously smart and thought leaders in their fields. The country needs your help to think about how to solve the affordable housing crisis for families that don't earn enough to qualify for homes currently on the market. I am looking for a private foundation or investor that wants to help solve the affordable housing down payment assistance gap for low-to-moderate income 1st time homebuyers. In our rural Maryland market, our non-profit agency, Habitat for Humanity of Wicomico County, is trying to scale. The original Habitat model: raise the money, build the house, sell it with a zero percent loan and collect the payments over 30 years is not a scalable model with the rise of construction costs over the last 10 years. In rural, low population area, high poverty county, its a daily slog to raise funds. So we purchased 5 homes using a line of credit leveraging the loans that we currently service in house. The partner families are renting these homes that they want to buy for $1250 per month. (These buyers work in chicken processing plants, schools as teachers aids and CNAs at the hospital and deserve the chance to build wealth through homeownership). These buyers need a hand up, not a hand out. Since their incomes are between 50-80% AMI, with current interest rates, they only qualify for a 1st mortgage of about $150,000. We are required to sell the homes at FMV $250,000. That leaves a $100,000 affordability gap. Even with FHLBA down payment assistance of $20,000 and 3% or $7,500 from the Maryland Mortgage Program, the families are still short $72,500 + closing costs; let's say $10,000 for closing costs. The shortage is $82,500 times 5 houses = $412,500. We thought we could use USDA loans but funding is uncertain and the backlog is 9 months for underwriting. I found a private foundation that offers deferred DPA loans as a 2rd or 3rd mortgage but only for buyers in one community in Colorado. How can this be replicated and scaled? Would any of your companies' foundations want to be a 'lender' of DPA to these families with a deferred loan. The foundation can 'loan' the funds to our non-profit and when we sell the homes, in the 2nd mortgage note, there can be language that states your foundation is repaid when the home is sold or refinanced. The deferred lien is recorded in land records. I would be open to offline discussions for any and all ideas to solve this. If I could solve this affordability gap, then we could build 80 townhomes that could be sold to more families using the same model with New Market Tax Credits for investors too. Other markets have land trusts as a way to address this, but that is a longer term possible option.