Legacy Shared Appreciation Program

Information for Homeowners

CFH developed the Legacy Shared Appreciation Program (Legacy Program) to counteract neighborhood displacement as DC home prices climbed and prospective purchasers found it challenging to afford properties. With an initial investment from the DC government, CFH developed a down payment assistance program: Each borrower was given a 0% interest loan (recoverable grant) as a second trust mortgage for down payment assistance, and CFH maintained the property’s affordability by sharing in the equity appreciation of the property with the borrower. These funds were recycled back into the property at the time of sale to benefit the property’s new buyer.

CFH also furthered its goal of promoting home ownership by supporting the operating boards of several Limited Equity Cooperatives with their self-management and governance. The Legacy Program only worked with properties in CFH’s portfolio, which, at its height, contained 214 properties under stewardship and 53 active loans provided to borrowers for the purchase of their property.

As the market evolved, CFH looked for new ways to serve prospective homeowners, emphasizing minority borrowers in DC. With the new Down Payment Assistance (DPA) Program we are shifting more of the power to the borrower, enabling participants to choose the home that best fits their family’s needs and size instead of the affordability tied to a specific property.

The DPA Program is the next step in our journey to better serve our community. Through homeownership, we are helping to deepen and strengthen communities, providing benefits that families can feel for generations. Shared appreciation from our legacy program borrowers will be recycled into the DPA Program as we grow the portfolio of homeowners. CFH, now rebranded as Homes by CFE, is deepening our commitment to affordable housing by helping more families purchase homes and building wealth for the next generation.

For Legacy Program homeowners, if at the time you sell your property, there is a borrower who might benefit from assistance from the new program, please refer that borrower to us to determine if the DPA Program is a fit.

Homes by CFE is committed to all our homeowners. If you have any questions regarding your loan, please reach out to us at info@homesbycfe.org so we may assist you.

Information & Forms

January 2021 Program Changes Notice

Find a copy of the letter mailed to homeowners regarding changes to the program.

Program Changes Notice

Program Changes FAQ

Frequently Asked Questions regarding program changes and implementation.

Program Changes FAQ

Intent to Sell Form

Notify City First Homes staff of the sale of your property. This will help us to make sure the sale of your property goes smoothly.

View Form

Capital Improvement Form

Use this form to notify City First Homes of any planned or completed improvements to your property. You can attach reciepts and the describe the improvements made to your property. This information will be stored in the borrower's file.

View Form

Refinance Request Form

This form will help City First Homes Staff prepare the necessary forms needed for your refinance and make sure the borrower has the information necessary to start and complete the process with the new lender.

View Form

Loss Mitigation Policy

City First Homes is there for our borrowers every step of the way through their homeownership journey. If you have concerns or believe your loan may go into default or that there may not be sufficient funds to repay your CFH Note please review the CFH Loss Mitigation Policy and reach out to us to discuss your specific situation.

Loss Mitigation Policy

Have additional questions?

Please reach out to us for assistance.