ROC USA is proud to announce a new $47 million National Acquisition Loan Pool that will catalyze the expansion of resident-owned communities (ROCs) across the country. We are so grateful to the investors who made this possible: Robert Wood Johnson Foundation, JP Morgan Chase, Charles Schwab Bank, Ceniarth, ImpactAssets, Mercy Community Capital, and Enterprise Community Loan Fund, the community development financial institution of Enterprise Community Partners.
Investors like these incredible partners are vital to support communities with deeper needs and to reach a far greater number of communities that will benefit from collective ownership. “Their commitment to helping launch this pool will enable many hundreds of low-income homeowners to collectively purchase their communities and exclaim, ‘We own it!’” said Emily Thaden, CEO of ROC USA.
Access to low-cost, fixed-rate, long-term mortgage financing is key to scaling resident ownership. Affordable mortgage financing stabilizes manufactured home communities when they collective purchase and become ROCs, ensuring lasting affordability and community control.