10 Things Your Faith Community Can Do To Encourage Homeownership

6. Hold an Open House for Homeownership

10 Things to Encourage Homeownership

Introduction

  1. Speak Out About the Benefits of Homeownership
  2. Create Partnerships to Educate Potential Homebuyers
  3. Encourage Families to Save for a Downpayment
  4. Help Families Improve Their Credit Rating
  5. Teach Young People about Financial Responsibility
  6. Hold an Open House for Homeownership
  7. Put Your Faith to Work with Hammer and Nails
  8. Encourage Professionals in Your Faith Community to Mentor Families
  9. Help Your Neighbor by Going the "Extra Mile"
  10. Help Homeowners Keep Their Homes

Many families, young and old, do not understand a mortgage and the home-buying process, and sometimes fear the financial obligation homeownership requires. This can prevent potential homeowners from even considering this important life-decision. Faith communities can break down these barriers by holding an "open house," inviting non-profit organizations and other housing industry leaders to meet your congregants and other families in your community. Bringing together mortgage lenders, real estate agents, credit counselors and even home improvement contractors under one roof and in a familiar environment can make the prospect of homeownership an attractive option

  • Faith leaders are key facilitators in their communities. Providing a venue for an Open House on homeownership can bridge gaps in understanding and provides key opportunities for developing relationships between housing industry professionals, potential homebuyers and your organization.
  • The process of finding a suitable home takes time, energy, and a clear understanding of the homebuyer's needs. Work with local Realtors and homebuyer training programs to help potential owners understand how to analyze their needs and identify the types of home features-location, size, potential maintenance demands and, of course cost-that will best serve their needs.
  • Develop relationships with Realtors or Realtor organizations that are willing to collaborate with your faith organization. Your organization can help develop a process to match the right Realtor with people who are ready to start the acquisition process.

Go to http://www.realtor.org and http://www.realtor.com for Realtor resources in your area. The American Bankers Association's Center for Community Development web site at http://www.aba.com can help you connect with local large and small bankers to explore collaboration.
 
Content Archived: April 9, 2010