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Landed Updates

Innovating Finance Through Down Payment Assistance

Earlier this year, Landed was awarded the Ivory Prize for Housing Affordability in the category of Finance. To learn more about our team and the work that we do, Ivory Innovations visited the San Francisco Bay Area to tour our office and interview Co-Founder Alex Lofton.

Alex told Ivory Innovations that Landed came into being when he and co-founder Jonathan Asmis became curious about what the future of living in cities would be like, recognizing how expensive things have become.

“My mom was a fourth grade school teacher, my dad was a social worker, and it wasn’t until we were able to own our own home that fortune changed for my family: they sent me to college, etc. So, I’ve kind of lived the experience of what it means to feel grounded and rooted once you are able to have permanent housing.

Teachers are some of the hardest working people in the world. They care a lot about their job, but oftentimes, if not all the time, they care about their job because they have this dual sense that each individual person is really special, but also as a whole, humanity is really special. Which means there isn’t a better group of people to start our work with than educators, who really are such a light for society.”

Ivory Innovations made another stop in the Bay Area at Burlingame's Roosevelt Elementary School, where they interviewed Landed homebuyer and elementary school teacher Kerry Callaghan. Kerry shared that each year she and her husband would save just enough to stay on track for a down payment, only to find prices had increased.

“My husband and I have wanted to purchase a home for a long time. We have always said, ‘We’re two years away, we’re two years away, we’re two years away,’ and we’ve said that for eight years.”

Last year, Kerry partnered with Landed to put an offer down and closed on a home in the community she serves, allowing her family to continue to live in the area for years to come.

“We wanted to stay where our family is, and our family is here. You hear from people, ‘Move where it’s more affordable,’ which is really hard to do when your friends and family and what you’ve grown up with is here. For us, owning a home meant we could stay here. We were about a year away from moving an hour and a half up to Petaluma, and Landed helped us not have to do that.”

You can view the full video here.

About Ivory Innovations

Ivory Innovations, housed at the Sorenson Impact Center at the University of Utah, brings together stakeholders of public and private organizations to support solutions to the national housing affordability crisis. For more information, visit ivory-innovations.org.

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About the Author

Jennifer Nash Darukhanawalla

Raised in the Bay Area, Jennifer is a senior attending San Jose State University planning to double major with a B.A. in Graphic Design and a B.S. in Advertising. As a MarComm Intern, Jennifer works with the Engagement Lead on photography, videography, editing, writing, and communications.