When Kathleen, a mother of three living in Queens, New York, thinks about her future home, she pictures a space where she and her children can feel safe and happy. “I have three small children and, to me, having a home offers that sense of security,” she says. “We’re always baking or cooking together, watching movies together — quality family time. I would want to have space that I could really flourish with me and my kids,” she says.

Beyond putting a roof over a family’s head, owning a home is a pathway to financial security and generational prosperity for American families. June is National Homeownership Month, a period of observance meant to highlight the value of homeownership for families and communities in the United States. But achieving the dream of homeownership feels more out of reach than ever for many.

Skyrocketing home prices, steep costs of living, and economic instability present major barriers to homeownership — especially as Americans carry more household debt than ever before, and the federal minimum wage has remained stagnant since 2009. Black and Hispanic homebuyers face additional hurdles due to discriminatory housing practices, higher mortgage denial rates, and a lack of generational wealth.

Nevertheless, people are motivated to purchase homes and secure a better future for their families, but they need the tools to make that dream a reality. That’s where Foyer, an Accion Venture Lab portfolio company, comes in. Foyer provides prospective homeowners with the confidence and tools to reach their goals by offering a dedicated savings account and educational materials to navigate the complex process, all accessible through a digital platform.

With their savings product and education platform, Foyer is helping prospective homebuyers, many of whom are low and moderate income earners, to gain:

Economic and housing stability

Kathleen’s dream is a home filled with happy memories and the feeling of safety that comes from having stable housing. Thinking of what owning her home will mean to her children, she says, “There will always be a space for them to come that’s our own. There’s no risk of my rent becoming unaffordable and all of a sudden scrambling with my kids to try to find a new home. It’s their safe haven.”

Not only does Foyer give Kathleen a safe place to save her money, but it also boosts her savings along the way. Foyer offers a percentage match on savings that members deposit each month, helping people like Kathleen get closer to reaching their down payment savings goal. “Each month, I have a specific goal set up for how much I want to be able to save. Every month, I can see that I’m getting closer,” she says.

Generational financial security

Homeownership is one of the best ways for Americans to build wealth and secure their future for generations to come. Thinking of her family’s future motivates Michelle, a Foyer member in Manhattan, New York, to meet this goal. “For me, owning a home would mean I would provide my daughter with something that I did not have growing up. It would mean that I would be the first person in my family to buy a house,” she says. “My mom came from Brazil when she was in her late twenties. I never experienced what it was like to live in a home, and now that I have my child, and hopefully more, I would love for them to experience that.”

Many of Foyer’s members are the first in their families to purchase a home. The majority of members are also women — over 70 percent of Foyer’s members are women.

Confidence and education about homebuying

Buying a home can be complicated, especially for young homeowners who are unsure of where to begin. Foyer offers an entryway to first-time buyers, connecting them to expert advice. “As a first-time home buyer, one of the biggest challenges I find is that it’s very overwhelming and a little bit scary because you have this dream you want to achieve, and sometimes it doesn’t seem feasible. But with using the Foyer app, you’re able to get a roadmap. They help you realize what you need and how to plan for your future,” says Kathleen.

 “We are not just providing a savings platform or an education platform. We are providing confidence back to Americans who never thought they would be able to afford a home because their parents never bought a home, and they are seeing news everywhere that indicates the chips are stacked against them,” says Foyer founder Landy Liu. Hear more from Landy about how Foyer equips Americans with savings tools, confidence, and educational resources to navigate the homebuying process: