HCI - REACH

◊	R.E.A.C.H. is a joint venture between the City of Rockville and HCI., a non-profit charitable corporation. The City of Rockville has provided the funds to assist first-time homebuyers with down payment and closing cost assistance related to the purchase of a home. Housing & Community Initiatives, Inc. manages all functions of the operation, coordinating, and contributing services.
◊	R.E.A.C.H. is structured to assist applicants with loans for down payment and/or closing costs that will enable them to become homeowners in Rockville. Applicants must meet the program criteria, qualify for a home mortgage, and be able to repay the R.E.A.C.H. loan. This creates a revolving fund that is perpetually replenished.
◊	The R.E.A.C.H. program will address a segment of the population that might be viewed as "caught in the middle". These people can afford a monthly mortgage payment, but have not been able to save a sufficient amount for a down payment and/or closing costs to buy a house.
◊	By creating a path to homeownership, the R.E.A.C.H. program is extending a helping hand to the community. Every renter who becomes a homeowner and every family who can live near work and daycare, contributes significantly to the well-being of our communities and to our children’s futures. Channeling the endeavors of this visionary program toward these goals will have far-reaching effects on Montgomery County’s economic health and its citizens' quality of life.