Bank Iowa supports Habitat for Humanity through $800K in mortgage purchases
August 24, 2020
Greater Des Moines Habitat for Humanity and Bank Iowa have partnered to provide funding for Des Moines families to receive affordable mortgages in the metro.
The financing from Bank Iowa amounts to nearly $800,000, which will directly impact Habitat for Humanity’s mission to help families build or improve the places they call home.
“Habitat for Humanity is about bringing people together to build homes, community, and hope. We do that by working with low-income families to provide the opportunity to obtain home ownership or maintain the ownership of their current home. This partnership with Bank Iowa allows us to fulfill that mission,” said Lance Henning, executive director of Greater Des Moines Habitat for Humanity.
According to Henning, the funds provided by Bank Iowa will help seven to eight families in the Habitat for Humanity program, depending on the cost of the land and materials.
Habitat for Humanity not only seeks to advocate for affordable housing, but also focuses on financial education and budgeting for homeowners. Statistics show that homeownership provides greater stability for families, allowing heads of households to succeed in their work and children to perform better in school.
“It truly is an honor and a pleasure to assist in Habitat for Humanity’s goal in providing housing for all residents of the communities that we serve. At Bank Iowa, our purpose is to empower people, inspire success and foster growth. Through this partnership, we’re able to achieve all three segments of that purpose statement,” said Jim Plagge, president and CEO of Bank Iowa.
To learn more about Greater Des Moines Habitat for Humanity’s partnership with Bank Iowa, view this video: