First Key Funding: Opening the Door to Homeownership

First Key Funding is a nonprofit home acquisition program designed to help first-time buyers overcome the toughest barriers to homeownership—down payments, competitive cash offers, and access to affordable financing. Through this program, we purchase homes directly on behalf of qualified buyers and create custom financing that keeps monthly payments in line with typical rent, empowering individuals and families to build equity and secure long-term housing stability.

How the Program Works

1. Pre-Qualification and Needs Evaluation
Every prospective homeowner must go through a simple pre-qualification process. This includes a financial review to evaluate income, existing debt, employment stability, and credit history. We also assess the applicant’s personal need for housing—looking at current rent burdens, family size, and long-term residency goals. This evaluation helps us prioritize support for buyers who are locked out of traditional home financing.

2. Homebuyer Education and Support
Approved applicants receive access to educational resources and personalized guidance from our team. We help navigate the real estate process from start to finish—explaining key steps, budgeting for ownership, and evaluating properties with long-term value.

3. Locating the Right Home
Once qualified, buyers work hand-in-hand with our team to identify an eligible home that meets their needs. We focus on stable neighborhoods with strong community potential and help ensure the property is a good fit both financially and structurally.

4. Cash Purchase by First Key Funding
To compete with investors and eliminate bidding wars, First Key Funding makes a cash offer on the buyer’s behalf. This strengthens the offer and increases the chances of success—especially in competitive housing markets where first-time buyers are often outbid.

5. Creating Affordable Financing
After the purchase, we structure a custom financing plan for the buyer. This often includes:

• • No down payment
  • Below-market or 0% interest rates
  • Fixed monthly payments that mirror or improve upon rent costs
  • A path to build 20% equity, at which point full ownership is transferred

6. Ongoing Support and Equity Development
As buyers make monthly payments, they build equity in their home—ultimately gaining full ownership while First Key Funding retains a secondary note to support ongoing growth of the fund. This revolving model allows us to help more families year after year.

First Key Funding is more than a financing program—it’s a partnership built on trust, community, and opportunity. We believe that with the right support, owning a home should be within reach for everyone. If you’re ready to take the first step toward homeownership, we’re here to guide the way.