Written by: Alexandria Mansfield
Jacksonville Florida Times-Union
Alex Sifakis, president of JWB, speaks Wednesday about the launch of the JWB HomeStep program, which aims to give renters a pathway to homeownership. Photo Provided by JWB
JWB Rental Homes, Jacksonville’s largest locally owned residential property management company, and Mayor Donna Deegan announced Wednesday the launch of the JWB HomeStep program designed to help residents start saving for a home.
The first-of-its-kind program in Northeast Florida is free for all JWB renters and works by banking a portion of their rent for a future home purchase.
JWB renters can earn $100 in equity per month, up to a lifetime total of $3,600, with the HomeStep program. This equity can then be applied toward purchasing any home — owned by JWB or not — with the company contributing up to $16 million in equity incentives for participating renters.
Although renters are able to purchase any home with this credit, even one not owned by JWB, they have to work with JWB Realty team in order to access the cost.
Renters can sign the JWB HomeStep addendum at the start of their lease, at renewal or during tenancy.
Mayor Donna Deegan engages an audience Wednesday to talk about the launch of the JWB HomeStep program, which aims to give renters a pathway to homeownership. Photo Provided by JWB
“JWB believes in creating opportunities that make a real difference,” said Alex Sifakis, president of JWB Real Estate Companies. “By launching the HomeStep program, we’re demonstrating our commitment to helping renters in Jacksonville by providing them with a tangible way to invest in their future and make the dream of homeownership a reality.”
JWB will also provide real estate and homeownership education and counseling to help residents and increase their chances of qualifying for a home.
JWB Rental Homes currently has more than 5,800 rental homes in Jacksonville, the majority of which are considered affordable housing.
Link to article: The Florida Times-Union “JWB launches program to assist with home buying. How will it help Jacksonville renters?”