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Housing's Helping Hands
Sandy and Edgard Romero with their children, Kelvin, 11, left, and Edgard Jr., 14, in their condo near Gallaudet University. The family bought the condo from a D.C. charity.
(Ricky Carioti - The Washington Post)
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In 2007, the Calvert Foundation's loan portfolio for affordable U.S. housing grew by 15 percent over 2006, when it distributed about $17 million, said Lisa Hall, the director of lending. Some of the local recipients have included Manna, AHC, and Habitat for Humanity D.C. and Montgomery.
[an error occurred while processing this directive]Art Stevens, relations manager for the Calvert Foundation, said people can donate money or stock to his group, or provide a loan and get a return on the investment.
"No investor has ever lost capital," Stevens said. "And we intend to maintain that record."
But he added, "We structure it so you can't make a ton of money."
In the current real estate climate, he said, the demand for loans "has increased dramatically, more than we can meet."
Of all the housing-related charities, Habitat for Humanity is perhaps the most recognizable. Its volunteers build homes, and it has chapters in counties throughout the Washington region.
Charlene McCall, vice president of the Prince George's County chapter, said her group has built or rehabbed 21 homes since 1988.
To receive a Habitat house, she said, "You must have a need, a way of paying a non-interest loan and be willing to work with Habitat for Humanity for the duration of the loan."
For many prospective homeowners, getting their finances and credit in order is key.
Romero, who bought the condo near Gallaudet, said she learned a lot of tricks from Manna about saving money.
She works full time at Children's National Medical Center as a staff assistant in the ophthalmology department and part time at the Latin American Youth Center in the District. Her husband, Edgard, recently landed a job as an attendance coordinator at a charter school.
"They asked for my pay stub and what I spend it on," Romero said. "They actually taught me to save a lot of money, how to cut corners."
