Habitat for Humanity - Inspiring the dream of homeownership

Host Kim Chapman and three very special guests from Habitat for Humanity of Greater Baton Rouge discuss how Habitat is helping families in our community fulfill their dreams of homeownership.

Transcript

Money Matters Ep 7 – Habitat for Humanity - Inspiring the dream of homeownership

This transcript is autogenerated

00;00;01;15 - 00;00;12;23

MC

Welcome to Money Matters, the podcast that focuses on how to use the money you have made, the money you need and save the money you want. Now here is your host, Miss Kim Chapman.

00;00;13;16 - 00;00;34;12

Kim Chapman - Host

Welcome to another addition of Money Matters. I am your host, Kim Chapman. If you joined us before or if you're listening for the first time, please be sure to hit the subscribe button so you won't miss another episode. And today is really going to be a great one. So let's go ahead and get my quote If your only tool is a hammer, you will see every problem is a nail.

00;00;34;22 - 00;00;55;10

Kim Chapman - Host

Hold that thought for just a moment. Why connect the dots? How many of you desire to become a homeowner or, you know, someone who wants to become a homeowner? But there is one or more obstacles. We'll just call them nails for the moment, standing in their way. Maybe they can't quite nail down the credit. Maybe they can't nail down enough money or income for that downpayment.

00;00;55;17 - 00;01;15;09

Kim Chapman - Host

Or maybe they just haven't nailed down what to do first in terms of trying to become a homeowner. What if I told you there is a program that will put a hammer in your hand that can literally and figuratively help you nail down the obstacle standing between you and homeownership? Have you heard of Habitat for Humanity of Greater Baton Rouge?

00;01;15;27 - 00;01;38;16

Kim Chapman - Host

Some of you, when you think of that name, may think, oh, that's the people that give away free houses. Or maybe you've actually volunteered to help build a house. Well, today we'll talk to that organization and you can learn how they can help empower you to become a homeowner. My guests today are not just Habitat administrators, but I've also been able to get a Habitat homeowner.

00;01;38;16 - 00;01;51;11

Kim Chapman - Host

So you can hear firsthand what it's like to go through the program and what a Habitat House really feels like from the inside. So I'll go ahead and we have three guests today, and I'll let them each go ahead and introduce themselves.

00;01;52;05 - 00;02;08;23

Terilyn Scott - Habitat Mortgage Coordinator

Hi, I'm Terrell and Scott. I'm the market coordinator at Habitat. I am the individual that you will have as a point of contact after closing. Habitat services, all of our loans. So I am the person that you would be in contact for any and all concerns After closing.

00;02;09;25 - 00;02;19;04

Alexis Jones - Habitat Family Selection Coordinator

I'm Alexis Jones, the family selection coordinator. I help our applicants from the time they apply for the homeownership program until the time that they're approved. Into the homeownership program.

00;02;19;23 - 00;02;24;04

Shondra Gauthier - Habitat Homeowner

I'm Sandra. Got a Habitat home owner. I've owned my home for 11 years.

00;02;24;12 - 00;02;42;01

Kim Chapman - Host

Well, thank you, ladies, all for attending. Ironic. We have our ladies. We're going to be talking about buying in, building homes. That's going to be a little interesting. So let's go ahead and debunk the myth that Habitat is not giving away homes. So who is Habitat? What is this organization really about?

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Alexis Jones - Habitat Family Selection Coordinator

So Habitat for Humanity of Greater Baton Rouge is a nonprofit Christian based ministry.

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Terilyn Scott - Habitat Mortgage Coordinator

Our mission is to provide everyone with the opportunity to own a home as 0% interest was zero money down.

00;02;55;09 - 00;02;57;07

Kim Chapman - Host

Wait, wait, wait. 0% interest.

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Terilyn Scott - Habitat Mortgage Coordinator

0% interest.

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Kim Chapman - Host

In 00.

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Terilyn Scott - Habitat Mortgage Coordinator

0% interest. They don't have to worry about any interest at all for the life of their loan.

00;03;05;07 - 00;03;07;21

Kim Chapman - Host

And did I hear you say no? Money down.

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Terilyn Scott - Habitat Mortgage Coordinator

No money down, no down payment. The only thing that they pay our closing costs and as costs associated with attorney fees, recording with the clerk of court. Insurance premiums appraisals and any other fees associated with the pre clothes and process. But other than that, we don't require 3% down like conventional like most conventional mortgages. So 0% down.

00;03;29;00 - 00;03;44;16

Kim Chapman - Host

Well, I think we have the attention of our listeners because you definitely have my attention. No interest mortgage and no money down payment so I think I think there's definitely some there's an audience out there who's paying attention. So who's the ideal candidate?

00;03;45;14 - 00;04;08;29

Terilyn Scott - Habitat Mortgage Coordinator

Anyone can apply. However, our program is geared towards low income families. We wish, as I say, we wish to give everybody the opportunity at homeownership so anyone can apply There's no certain credit score. However, we do look at debt to income. We do look at income, and we do try to assist individuals who really have a passion for homeownership in any way that we can.

00;04;08;29 - 00;04;12;23

Terilyn Scott - Habitat Mortgage Coordinator

But there are certain guidelines that you have to reach for that.

00;04;13;07 - 00;04;31;03

Kim Chapman - Host

Oh, wow. So can you tell us a little bit about the process? Because, again, if I were listening to this, I think this is too good to be true. And that's usually one of my quotes. If it sounds too good to be true, usually is. But I've been associated with Habitat for over seven years, so I know for a fact that this is legitimate.

00;04;31;03 - 00;04;46;01

Kim Chapman - Host

I've watched and helped and assisted several individuals go through this program to become a homeowner. But this is really, really sensational. No interest mortgage, no money down and credit. Say that again about the credit score.

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Terilyn Scott - Habitat Mortgage Coordinator

There's no particular credit score that we're looking for.

00;04;49;10 - 00;04;59;25

Kim Chapman - Host

And as a financial counselor, I know that that is one of the largest barriers that individuals seeking homeownership face. And so let's just tell us a little bit about that application process.

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Alexis Jones - Habitat Family Selection Coordinator

Yeah. So if somebody decides that they're interested in going through a homeownership program through Habitat for Humanity, what they would want to do is they would want to schedule an orientation meeting. And so we have started having orientation meeting several times every single month where you can come and learn about our homeownership program, what our houses look like and what the process will be.

00;05;20;07 - 00;05;38;16

Alexis Jones - Habitat Family Selection Coordinator

That's where you can pick up an application. We can show you all the ways to fill it out and what would be required to turn in with that application. And once you turn that application in, I'm going to look over it. I'm going to see what your income is. I'm going to look to see that you're a Louisiana resident, that you're legally able to own property.

00;05;39;04 - 00;06;00;07

Alexis Jones - Habitat Family Selection Coordinator

And then we're going to start that process. Do you make enough money to actually repay a mortgage? Does your income fall within our guidelines? And then we'll start to look at your whole finances. So I'll look through your checking accounts. I'll look at your credit history. I'll see what kind of debts is this person have. Are they paying their bills on time?

00;06;00;07 - 00;06;17;20

Alexis Jones - Habitat Family Selection Coordinator

Do they need a little bit of financial allocation to get them on the right track? And we're also going to look at your home. So I'm going to go to your house and I'm going to look at your current home. Are you homeless? Do you live in a dilapidated apartment? And you just can't afford to find decent housing?

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Alexis Jones - Habitat Family Selection Coordinator

We're going to take all of that into account and then we're going to take our file that we've made for you to our family. Selection committee, and they're going to review it and approve you into the program if they feel that you're right to move forward.

00;06;30;04 - 00;06;39;22

Kim Chapman - Host

OK, so you said as long as you're legally able to become a homeowner, what does that mean? Can you clarify? Why would you not be legally able to become a homeowner?

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Alexis Jones - Habitat Family Selection Coordinator

Yeah. So in order to sign a mortgage loan, you have to be at least 18 years old. But also things that people don't think about are the fact that in the state of Louisiana, you have to be legally separated from someone if you were married and maybe you no longer married to that person, you would need to be legally separated from them in order to progress through that program.

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Alexis Jones - Habitat Family Selection Coordinator

Because at the end of the day, that ex-partner has the right to come and take that habitat home from you, and we don't want to get to that point. So if that were a case in which you were legally married at one point and you're no longer with that person, we would want to make sure that you're taking the steps to now get that divorce from them so that you can have home ownership without that looming cloud over you, that somebody might come and take that from you one day.

00;07;24;28 - 00;07;44;27

Kim Chapman - Host

OK, so you mentioned a couple maybe dire circumstances. You say maybe being homeless, maybe your current situation is that your home is maybe unlivable, is dilapidated. What if there's nothing wrong with my my home? Maybe I'm in an apartment, but I just want to be a homeowner. Do I have to fall under some crisis scenario to apply or to be a good candidate?

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Alexis Jones - Habitat Family Selection Coordinator

Definitely not. We do get people of all different ranges when it comes to their current living situation and people who live in fine apartments apply all the time and they're totally welcome to come and apply for our program. Most of our rentals in the Baton Rouge area are going to demonstrate need financially because our rental rates are so high that most people just can't even afford to rent around here.

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Alexis Jones - Habitat Family Selection Coordinator

So that can demonstrate need as well. It doesn't have to just be that your house is falling apart.

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Kim Chapman - Host

So, Senator, I want to ask you a couple questions. How did you learn about Habitat for Humanity?

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Shondra Gauthier - Habitat Homeowner

I actually learned about Habitat for Humanity through a program through Hope Ministries. I was partnered with mentors that explained to me what Habitat for Humanity was. At the time I was homeless, I didn't think that I would even be a candidate for it. But something he said to me was like, What do you have to lose? So a dairy, I applied and I was accepted.

00;08;44;11 - 00;08;52;07

Kim Chapman - Host

So aside from being homeless, what are the barriers that you were you facing that you felt would keep you from becoming a homeowner?

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Shondra Gauthier - Habitat Homeowner

I did not think that I could afford to be a homeowner. I wasn't educated on being a homeowner, so I just had this idea in my head that I couldn't afford it. I didn't know what steps to take at all.

00;09;05;13 - 00;09;08;00

Kim Chapman - Host

And then what about your credit? Did you think your credit was a barrier?

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Shondra Gauthier - Habitat Homeowner

Absolutely. I did think my credit was a barrier. I had had repos on my credit report from cosigning for someone else. So I absolutely do think that that was going to stop me and not allow me to move forward in my homeownership journey.

00;09;22;29 - 00;09;39;15

Kim Chapman - Host

So what was the application process like? I hear Alex is saying that you have to fill out some paperwork. You have to go to an orientation. They have to come to your home. Sounds like it's a little overwhelming. So do you remember what that process was like? And definitely, do you think it was worth it in the long run?

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Shondra Gauthier - Habitat Homeowner

I definitely think it was worth it in the long run. And initially.

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Kim Chapman - Host

It.

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Shondra Gauthier - Habitat Homeowner

Was scary for me, just the unknown. But they literally walk you step through step of each of the application process. If there was an issue, they let me know. And they even educated me on how to fix that issue. And what I mean by issue. Let's say if there was a credit issue if something needed to be taken care of that was on my credit, they let me know.

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Shondra Gauthier - Habitat Homeowner

They give you opportunity to work on it and then we moved forward.

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Kim Chapman - Host

OK, so let's just kind of want to swing back to you and talk a little bit more. What else, what are what they learn when they come to this orientation?

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Alexis Jones - Habitat Family Selection Coordinator

So when they're coming to this orientation, they're learning what the Habitat Homeownership Program process will look like. We want to make it very clear that to go through the homeownership program, you have to complete sweat equity. You have to do your financial literacy classes. We also want to make it very clear what our houses look like and where we're building.

00;10;34;18 - 00;10;53;29

Alexis Jones - Habitat Family Selection Coordinator

So right now, we're building in mid-city and garbage areas, and we expect to be build in there for the next couple of years because that's where we own land. But also the houses that we're building on those properties are not custom built houses. We have a template for all of our houses that we follow to keep our homes affordable for everyone.

00;10;54;18 - 00;11;18;15

Alexis Jones - Habitat Family Selection Coordinator

There are selections that our homeowners can choose, but for the most part, our houses are going to look very similar from house to house. So this orientation process is to allow our homeowner candidates the opportunity to either move forward through the program if that's what they want, or maybe Habitat isn't the right program for them. And they want to find out a different way to obtain a home in a more traditional manner.

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Kim Chapman - Host

So how would somebody apply.

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Alexis Jones - Habitat Family Selection Coordinator

In order to apply? We ask that everyone attend one of these orientation meetings where they learn about our program and they pick up an application after you pick up an application, you have 30 days to turn that application in with all of the documents necessary, which is we tell you all of that during the orientation as well. As we give you paperwork that shows what you need to turn in with your application.

00;11;42;21 - 00;11;56;11

Alexis Jones - Habitat Family Selection Coordinator

And then after you turn your application in, we'll start to review the actual application Applicants can get applications without attending an orientation, but you will have to attend an orientation before you're into the program.

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Kim Chapman - Host

OK, so where could they get these where would they pick up the application or where can they obtain it? Is it online? Is it a physical application and where would they turn them in?

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Alexis Jones - Habitat Family Selection Coordinator

So our application is a physical application and right now we're trying to do orientations all over the city. So we do have some orientations coming up at the East Baton Rouge Parish Library's main library on Goodwood. We have applications available at the Delmon Library. We'll be doing an orientation at all the libraries in Baton Rouge. So just keep a lookout on our social media pages as well as going to our website to see when and where our orientations will be so that you can go ahead and sign up for one of those.

00;12;34;24 - 00;12;44;07

Alexis Jones - Habitat Family Selection Coordinator

And if you're not able to go to one of those orientation meetings, give us a call and we will get a way for you to learn more about our program and to pick up an application.

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Kim Chapman - Host

And it sounds like a good moment to maybe go ahead if you can give out the Habitat phone number so they know how to call you and maybe the website address if you know, if you can give us that information.

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Alexis Jones - Habitat Family Selection Coordinator

Yeah, our website is Habitat A, B, r, l a dot org. It is not the same website that you would see when you go to the Habitat International page. So if you were to just Google Habitat for Humanity, you might not see the greater Baton Rouge page. So if you're interested in buying a house in the Greater Baton Rouge area, you want to make sure you're on the greater Baton Rouge Habitat website.

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Alexis Jones - Habitat Family Selection Coordinator

Our phone number is.

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Terilyn Scott - Habitat Mortgage Coordinator

2259276651.

00;13;21;26 - 00;13;23;11

Kim Chapman - Host

And where is Habitat located?

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Terilyn Scott - Habitat Mortgage Coordinator

We're at 5500 Florida Boulevard and Suite 200.

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Kim Chapman - Host

And that's a new location, right?

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Terilyn Scott - Habitat Mortgage Coordinator

That's new location. We've been there a few months now, so if anyone wants to contact us, just walk into the office and we'll help you in any way we can.

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Kim Chapman - Host

OK, so let's get back to the application process. I heard you mentioned sweat equity. I know it's sweat equity is, but can you tell our listeners a little bit about it?

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Alexis Jones - Habitat Family Selection Coordinator

Yeah. So Sweat Equity is something that was established by Habitat for Humanity International when the organization was first started. And it's one of our most valuable tools and building partnerships among our partner families, our volunteers and our Habitat staff through doing sweat equity. It allows you to do a hands on involvement, and each partner has the opportunity to invest in our mission of Habitat.

00;14;12;27 - 00;14;36;17

Alexis Jones - Habitat Family Selection Coordinator

It's one of the cornerstones of our mission because it allows you to build a partnership with a community. It creates a pride in your home ownership, and it allows you to develop the skills and knowledge to maintain that home over the course of your mortgage, but also the course of the house. We want to make sure that our homeowners have the opportunity to live in this house for as long as they want and that it's sustainable for them.

00;14;37;10 - 00;14;41;14

Kim Chapman - Host

So homeowners actually get to participate and help build the house, correct?

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Alexis Jones - Habitat Family Selection Coordinator

Yes.

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Kim Chapman - Host

So, Shandra, tell us a little bit about that. Had you ever even picked up a hammer before you had to work in this particular program? What did you do before going in the program? And then what type of skills that you learned after going through the program?

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Shondra Gauthier - Habitat Homeowner

I had picked up a hammer before because my dad was a carpenter. However, I had never done siding before. I had never done sewing before. And I had a hand in doing all of that. The beautiful thing about that was that Habitat staff was right there alongside of you, along with other skewered volunteers so they got you step by step through each of those situations, whether it was putting siding on, nailing studs, putting up walls, flooring, all of that.

00;15;27;27 - 00;15;32;28

Shondra Gauthier - Habitat Homeowner

And I had a hand in all of that and building my house in others homes, homes in our community.

00;15;33;18 - 00;15;52;12

Kim Chapman - Host

So maybe our listeners would be a little nervous thinking, OK, so we have average everyday people building a house. What about the integrity of the house? So tell us a little bit about your house and how I mean, it's been ten years, so we definitely know it last at least that long. But, you know, there were professionals out there with you as well.

00;15;52;12 - 00;16;15;10

Shondra Gauthier - Habitat Homeowner

There were professionals right alongside of me. There also were volunteers that were very skilled alongside of me and the rest of the volunteers. My group of people was a YouthBuild, so for each group of people that was on my bill, there was somebody overseeing in that group, somebody that was professional, knew what they were doing, and if something was not right, they made them do it over.

00;16;15;10 - 00;16;38;16

Shondra Gauthier - Habitat Homeowner

My house is still standing. I'm just starting to do little knickknack things, very cosmetic things like paint now. So I think that says something to the integrity of people that are working on your homes. They did not just let it fly. If something wasn't nailed correctly, they made them do it over. We did it over. If it was a measure correctly, if it wasn't cut correctly, we took it down.

00;16;38;16 - 00;16;39;12

Shondra Gauthier - Habitat Homeowner

We did it over.

00;16;40;04 - 00;16;45;06

Kim Chapman - Host

OK, and is that is that a requirement that a participant can't build on the house?

00;16;45;17 - 00;17;09;07

Alexis Jones - Habitat Family Selection Coordinator

Yeah. So everyone that comes to our program has to complete a minimum of 100 hours on this on the construction site and that's a standard set by Habitat for Humanity International. Since it is one of the core tenets of our program, we want to make sure all of our homeowners have the opportunity to be out on that construction site to help build their house and to help build the houses of our other homeowners.

00;17;10;11 - 00;17;31;29

Kim Chapman - Host

So what if I'm expecting because I know that I've definitely worked with a lot of expectant mothers. I've worked with a lot of maybe senior citizens that are prospective homeowners. What type of skills or what type of jobs could they do? Because clearly they wouldn't be expected to be out with a hammer and nails, you know, doing hard labor.

00;17;32;03 - 00;18;04;20

Alexis Jones - Habitat Family Selection Coordinator

Definitely that is a concern for a lot of people. And I don't want to discredit the fact that somebody who may be 72 is able to get out there on that construction site because I've had quite a few ladies out there doing landscaping and putting their houses together over the age of 70. But for those of us who may be pregnant or who might be older and they're not unable to build on the construction site, we want to give them the opportunity to be out there talking to volunteer or they can go and volunteer at local community organizations like food banks.

00;18;04;20 - 00;18;19;21

Alexis Jones - Habitat Family Selection Coordinator

They can go volunteer at our habitat, restore locations, or we can find different ways for them to duke sweat equity hours, whether that be doing financial literacy classes, going to the library to learn different skills so that they can get all of their hours done.

00;18;19;29 - 00;18;46;06

Kim Chapman - Host

So I'll take the mom and we'll talk a little bit just about the financial literacy classes, because I've been doing it for seven years with basically the partners come in, they sit with me for five weeks. It is definitely a commitment because it's what about maybe two and a half, 3 hours every week for five weeks where we are really giving them information, a good foundation in finances challenge where you went to the classes, it wasn't that with me, it was with another partner.

00;18;46;08 - 00;18;53;19

Kim Chapman - Host

But what did you take away from that class? Did you think that it was helpful or how has it been beneficial to you during the course of you being a homeowner?

00;18;53;20 - 00;19;13;04

Shondra Gauthier - Habitat Homeowner

I absolutely think it was helpful. You educated me on my finances how to budget, how to continue to budget after ownership, understanding my credit. So all of those things were very important and it still is important to me now to the point where I try to pass it along to my kids or whoever will listen to me talk about it.

00;19;13;12 - 00;19;20;20

Shondra Gauthier - Habitat Homeowner

Because I do think that understanding your credit and budgeting and finances is very important, especially in the world we live in. Today.

00;19;21;07 - 00;19;28;16

Kim Chapman - Host

OK, all right. So I want to circle back. I heard you mentioned the restore. Can you tell our audience is what is the restore?

00;19;28;29 - 00;19;49;00

Alexis Jones - Habitat Family Selection Coordinator

Yeah. So The Restore is a a store that resells donated materials, new materials, a lot of construction materials or even furniture to our local communities. And all of the proceeds that they raise go right back into building houses for our homeowners.

00;19;49;12 - 00;20;11;00

Kim Chapman - Host

OK, so Terrilynn, we've been monopolizing all these ladies times. Tell us a little what is the advantage basically of getting a habitat mortgage versus a conventional mortgage? I know you mentioned earlier that, of course, at 0% interest, I hope they're still ringing in the ears of our listeners. It still just kind of has me spellbound because you just can't get any better than that.

00;20;11;00 - 00;20;21;25

Kim Chapman - Host

Yes, but what would be some of the other advantages if somebody is thinking, oh, I was going to go through and get a conventional mortgage, maybe I will qualify under low income. What are some of the other advantages?

00;20;22;01 - 00;21;02;19

Terilyn Scott - Habitat Mortgage Coordinator

Well, like I said before, 0% down payment. So we definitely want to encourage anyone who doesn't have savings. You know, a lot of people don't have savings put aside for a home because they are low income. So they they might not have the money every month. Just to put aside to get a down payment for a home. So we encourage people to definitely, you know, say we since we have programs with our with Habitat that teach you literacy and budgeting and things like that, we encourage you all as partners to save so that you will at least have your down payment as far as the down payment for closing costs.

00;21;02;27 - 00;21;22;27

Terilyn Scott - Habitat Mortgage Coordinator

So other than that, this is are we we are able to see us, you're able to walk into the office at any time if you have questions, we are able to assist you in any way as far as if you have questions about your insurance, escrow, things of that nature. We're more hands on with the process and with your mortgage.

00;21;23;22 - 00;21;42;29

Terilyn Scott - Habitat Mortgage Coordinator

So we like to think that we are you know, we incorporate you into a family aspect. Now, to get a mortgage, you really have to want it because you have to go through the process. But once you get the mortgage signed, your paperwork with the attorney's office and everything like that, we don't just throw you out into the water we help you in any way that we can so that you understand that is a commitment.

00;21;42;29 - 00;21;56;09

Terilyn Scott - Habitat Mortgage Coordinator

You know, it's a 30 year commitment and we want to be able to assist you through that process so that you can teach your children, bring them in. We can help them to become homeowners as well. So it's it's a way of showing you so that you can show others.

00;21;56;17 - 00;22;08;22

Kim Chapman - Host

OK? And so after they've gotten through the process, they submitted their application, they've been pre-approved. And you mentioned sweat equity are was widows. Can a potential homeowner expect.

00;22;09;13 - 00;22;30;07

Alexis Jones - Habitat Family Selection Coordinator

So all of our potential homeowners on top of doing sweat equity also have financial requirements that they have to do. So financial requirements can look like doing a monthly savings requirement. So you may be required to do $300 every month into your savings account or maybe you had a bad debt that you didn't pay off for $500 to someone.

00;22;30;07 - 00;22;46;23

Alexis Jones - Habitat Family Selection Coordinator

We're going to require you to pay that off as well. Maybe you have a ton of credit cards that you have. They're all current but you're only paying those minimums on every month. We're going to work with you, set deadlines so that you can pay those credit cards off and that you can learn how to use your credit cards responsibly going forward.

00;22;47;24 - 00;23;06;04

Alexis Jones - Habitat Family Selection Coordinator

So that's a big part of our program, is making sure everyone is financially literate, and that's something that you've helped us with. Miss Kim is teaching them how they can utilize the money that they have and spend it wisely so that they can afford this mortgage because a lot of people really want to make this dream come true for them.

00;23;06;13 - 00;23;14;05

Kim Chapman - Host

So from start to finish, from application to keys to the front door generally, how long is that process?

00;23;14;12 - 00;23;37;01

Alexis Jones - Habitat Family Selection Coordinator

We tell everyone that this process from the start that you turn your application in to the end where you sign that mortgage is about two years. It can be a little more for some people. It can be a little less for some people. It depends on how eager you are to work through that program, but it also depends on how fast we can build houses because we can only build the houses so fast, especially when construction materials are low.

00;23;37;12 - 00;23;43;05

Alexis Jones - Habitat Family Selection Coordinator

So we do the best that we can to build as many houses as we can. And that's why we tell people two or more years.

00;23;43;07 - 00;23;54;19

Kim Chapman - Host

Two or more years. So Chandra, how was your process? If you can remember from start to finish, do you remember how long it took? And then tell us a little bit about your Habitat House. How big is it? How big is your family?

00;23;55;16 - 00;24;15;27

Shondra Gauthier - Habitat Homeowner

Initially, when I did Habitat for Humanity, I was told it would take about 18 months, almost two years. It took me 16 months because I would do something every day for is my sweat equity. I would go and volunteer in food banks for an hour a day or something to get those hours. And I have two children. They are now teenage years now.

00;24;16;05 - 00;24;24;29

Shondra Gauthier - Habitat Homeowner

I live in a three bedroom, one and a half baths home, has a living room eating area, kitchen, big backyard. It's an awesome house.

00;24;25;16 - 00;24;44;17

Kim Chapman - Host

So how involved were you in the process of picking out the materials for your house? Did you get to pick out the paint color or did you get to pick out how many bedrooms did you get to pick out anything for landscaping? How involved is you? Were you with the process? How what impact did you have in terms of making the home yours?

00;24;44;24 - 00;25;11;27

Shondra Gauthier - Habitat Homeowner

So I didn't get to pick out how many bedrooms, but that was OK. We got just what we needed. However, I was involved in picking out the paint colors at that time. I don't know if it's changed any about the indoor paint colors. I know everybody had the same basic one by landscaping. I remember that process like it was yesterday because we all the Habitat homeowners that started with me, the gardeners will come.

00;25;12;01 - 00;25;30;05

Shondra Gauthier - Habitat Homeowner

They wanted to know what we wanted and so I did some research and gave my suggestions and lo and behold, to my surprise, I got every single thing that was on my list. So when they came, not only was I involved in that process of doing my gardening, making my flowerbeds, laying down side, but so were my kids.

00;25;30;05 - 00;25;50;04

Shondra Gauthier - Habitat Homeowner

And it was just a beautiful, beautiful experience because then they got to be connected with hay and have that pride, that sense of pride. This is my home, this is what I'm doing from my home. Along with the day that I did that, it was a really big deal. It was a few other homes in the neighborhood, so we were all kind of going back and forth, planning in each other's yard.

00;25;50;04 - 00;25;56;01

Shondra Gauthier - Habitat Homeowner

So it was a beautiful day and you do get a lot of hands on opportunities to make that house your own.

00;25;56;19 - 00;26;17;01

Kim Chapman - Host

So 16 months or even two years, you know, initially sounds like a long process. What are some of the hiccups out at you, Sandra, personally, that maybe you encountered along the way, anything that may have slowed down the process or just something you had to work through? And then it's one of the ladies water, maybe some of the common issues that somebody may encounter.

00;26;17;01 - 00;26;20;17

Kim Chapman - Host

That may be the difference between six months or two years.

00;26;20;22 - 00;26;39;28

Shondra Gauthier - Habitat Homeowner

So I'll say when you hear six months to two years, I know it does sound like, oh my gosh, that's so long. But when you're doing these financial steps, step by step, you'll see then that it's giving you an opportunity to build your savings, pay things off. It's going to be the time that you need to get everything lined up for the moment of you closing for your home.

00;26;40;25 - 00;27;09;02

Shondra Gauthier - Habitat Homeowner

There were some hiccups in mine I was divorced, and so there was some things on my credit I didn't know anything about credit report and all of that and what effect it is. And as it got closer for me to close, there were some things that my ex-husband had done that I had to take care of, although that was hard and it made me frustrated Habitat staff was right along with me, guiding me through, helping me talk to lenders and getting everything squared away.

00;27;09;02 - 00;27;27;18

Shondra Gauthier - Habitat Homeowner

And it was like no time at all after that. So everything, although it seemed, Oh my gosh, this is not going to happen because that's what it looked like for me. Habitat staff was right there with me, helping me work through it and giving me the knowledge and and the words to give to the creditors. I was able to work everything out, and I'm a homeowner now.

00;27;27;28 - 00;27;37;12

Kim Chapman - Host

Awesome. So what are some common roadblocks that a potential homeowner might anticipate or might face on this two year journey?

00;27;37;29 - 00;27;59;10

Alexis Jones - Habitat Family Selection Coordinator

Yeah, as Sandra said, the biggest one that I see with our homeowners who are going through the program is that mental block. A lot of people stand in their own way sometimes because they start to get nervous. They've never done something this big before and they've never accomplished it. So we want to make it a big point to hold each other's hands while we go through this.

00;27;59;10 - 00;28;18;24

Alexis Jones - Habitat Family Selection Coordinator

We're not going to tell you how to do everything, but we're going to make sure you have the resources so that you can do this on your own and so that you can do this accomplishment for yourself and for your family. If you have one other than the mental block, we see things like needing to buy a car or maybe take out loans.

00;28;18;24 - 00;28;36;16

Alexis Jones - Habitat Family Selection Coordinator

Things like that can impede your ability to buy a house in the future. So we really have to talk with our partners and our homeowners about what is more important to you at this time. Do you need that car, or is there a different way that you can get around town for the time being? But some people have to make that decision for what's right for them.

00;28;37;09 - 00;29;01;23

Alexis Jones - Habitat Family Selection Coordinator

Those are the biggest roadblocks that I see. Also, older debts popping up unexpectedly can be a big thing. So we just encourage everyone to be as transparent as possible so that we can get ahead of those things. We don't want to see them pop up when we're about to close on their house. We want to know about them before so that we can go ahead and take care of that before you get to signing on your house, because it can impede your ability to get that mortgage at the end of the day.

00;29;01;26 - 00;29;20;19

Terilyn Scott - Habitat Mortgage Coordinator

Yes, and I think a couple of it really raised a lot of barriers for some individuals because of jobs. A lot of people lost jobs. A lot of people had to change jobs. So maybe your income changed. And so I think that that really impacted a lot of people and it did prolong some processes with some of our partners.

00;29;21;01 - 00;29;30;14

Kim Chapman - Host

OK, is there anything in particular that would if somebody starts the process somewhere in the middle that they would be disqualified or have to leave the program?

00;29;30;27 - 00;29;49;24

Alexis Jones - Habitat Family Selection Coordinator

Yeah, there are definitely ways in which somebody could maybe no longer be a participant in our program. Those are things, like I said, your financial situation changes negatively. So if you have to go take that car loan out, it might impact your debt to income ratio and to a place where you can no longer afford to buy a house.

00;29;49;24 - 00;30;05;19

Alexis Jones - Habitat Family Selection Coordinator

Or maybe you did lose a job and you can't you just can't find a new job. We can't have you in the program forever. So we try to work with you when something like that happens. But sometimes it might not be the right time for you to buy a house. So we'll encourage you to come back at a different time to restart the process.

00;30;06;17 - 00;30;25;09

Alexis Jones - Habitat Family Selection Coordinator

Other things like I was alluding to, it's more of a mental thing. Some people just aren't in the right headspace to do our our requirements because this is a commitment that this is something that you have to work really hard at. And that means you have to do that sweat equity. You have to follow our programs, policies and procedures.

00;30;25;09 - 00;30;42;23

Alexis Jones - Habitat Family Selection Coordinator

And if you're not able to do those things, then in that this might not be the right program for you. And then we have a partner right now in the program who who had started that process. And she did realize at the time like, this isn't right for me. I can't handle all this right now. So she withdrew from the program and she's back in it.

00;30;42;23 - 00;31;00;20

Alexis Jones - Habitat Family Selection Coordinator

Ten years later, she's working on her sweat equity. She's doing her financial literacy requirements, and she has her son going through the financial literacy class with her. So we just love to see people progress because sometimes home ownership might not be for you right now. So it's good to see that in people.

00;31;00;23 - 00;31;22;27

Kim Chapman - Host

And I think it's such a secret because I know for a fact that you have a partner that went through the program and she did so well. She became a homeowner that then she had her mom come through the program and go through the same process. And so it's almost like now it's generation you know, that they are using this wonderful organization to spread homeownership through their families.

00;31;23;03 - 00;31;40;15

Kim Chapman - Host

So let's talk a little bit about the House. I know that Sandra said yours is a three bedroom one and a half bath house. And I think most of the homeowners, our partners that I've worked with throughout the process, it's been somewhere around that two or three. But just recently I actually came across an application where somebody was getting a five bedroom home.

00;31;40;21 - 00;31;51;11

Kim Chapman - Host

So definitely talk a little bit about that to our audience, because maybe three bedrooms isn't quite enough what's the largest? Is five bedrooms the largest that you would build or what are the parameters?

00;31;51;18 - 00;32;15;10

Alexis Jones - Habitat Family Selection Coordinator

Yeah, so most of the houses that we build with our program are three bedroom, one and a half bathhouses. We do occasionally build four bedroom, two bath houses, and we've only ever built one that five bedroom house. So it's not very often that we're building those bigger sized homes because our goal is to provide simple, decent and safe, affordable housing for our partners.

00;32;16;01 - 00;32;38;28

Alexis Jones - Habitat Family Selection Coordinator

It's not necessarily about the size of your house, but it's about the actual house. So we try to make sure that everyone has space they need for their family size. I mean, most people feel like they need a bigger house than they actually do. So like I said, Sandra got a three bedroom, one and a half bath house because that's the minimum we're going to build for somebody.

00;32;39;19 - 00;32;43;14

Alexis Jones - Habitat Family Selection Coordinator

And most families can fit in a three bedroom one and have that out.

00;32;43;14 - 00;32;50;03

Terilyn Scott - Habitat Mortgage Coordinator

But we do understand that families size matters. So yeah, if your family is big enough, we're going to try to accommodate you.

00;32;50;12 - 00;32;54;10

Kim Chapman - Host

Do they get to pick where their house is, the location, the street?

00;32;54;20 - 00;33;18;26

Alexis Jones - Habitat Family Selection Coordinator

So up until this year, we had been building in the mid-city area for quite a while. And so our houses were restricted kind of to that area. We do take into account what our our partners want. So if you tell me you want to live in a certain area, we do our best to try to do that. But since we can only build on land that we already own, we can't make everything possible.

00;33;18;26 - 00;33;35;27

Alexis Jones - Habitat Family Selection Coordinator

So somebody comes to me and they say, Hey, I want to live in Denham Springs. It's like, Well, I would love to get you in the Springs, but we don't even have land over there right now. It's possible in the future we might get land over there, but currently we're only building in that mid-city and garden area. So we try to encourage people, Hey, this is where we're building.

00;33;35;27 - 00;33;53;15

Alexis Jones - Habitat Family Selection Coordinator

If you don't want to live in this area, it might not be the best time to start the program. And we do try to take into what they want. We try to take what they want into account when we're deciding to offer them homes. So if you tell me you want to live in a corner, well, if I see we have a corner, hey, Sandra wants to live on a corner.

00;33;53;15 - 00;34;00;03

Alexis Jones - Habitat Family Selection Coordinator

Let's give Shandra a corner lot. So we do our best to accommodate everyone, but we can't do custom home building.

00;34;00;15 - 00;34;17;29

Kim Chapman - Host

OK, now I want to get back to the best part of it. 0% mortgage. So, Sherrilyn, tell us a little bit, what information do you provide for them? I know that they go through financial literacy classes with me, but I know that they also go through a mortgage class. Can you tell us a little bit about the information they learn there?

00;34;17;29 - 00;34;24;28

Kim Chapman - Host

And just basically, what do you expect from the partners? What can they expect to learn from you or to get out of that in information?

00;34;25;13 - 00;34;49;00

Terilyn Scott - Habitat Mortgage Coordinator

Well, a few months ago, I did join one of the classes that we did over at the library of our in Goodwood. And what I wanted to inform them of of just basic mortgage terms, lender, borrower, loan, lean things of that nature so that they get the basic verbiage down. And I wanted to explain to them that they are expected to pay on time, every time.

00;34;49;00 - 00;35;08;18

Terilyn Scott - Habitat Mortgage Coordinator

You know, we we cannot give you a home for free. You have to pay your mortgage if in the event that you cannot afford their mortgage anymore. We do, sadly, have foreclosures. So we do everything that we can. We look for programs that can assist you with your payments, anything of that nature to keep you in that home.

00;35;08;18 - 00;35;15;10

Terilyn Scott - Habitat Mortgage Coordinator

But if there are just no options and you know you can't afford it anymore, then we have to take the necessary steps.

00;35;15;24 - 00;35;23;02

Kim Chapman - Host

And so are the loans kept in-house? Do they pay to habitat? Do they pay to another bank or another mortgage company?

00;35;23;02 - 00;35;32;10

Terilyn Scott - Habitat Mortgage Coordinator

They will always pay to habitat. We service our own loans. We do not have them pay to anyone else. Once you're a Habitat homeowner, you stay a Habitat homeowner.

00;35;32;25 - 00;35;36;10

Kim Chapman - Host

And so of course, you mentioned there's no down payment. What about closing cost?

00;35;36;17 - 00;35;51;05

Terilyn Scott - Habitat Mortgage Coordinator

Closing costs, that would just be attorney fees, recording fees, appraisal, things like that that we have to do along the way to ensure that we're doing the steps properly, create a report for you and things of that nature. Usually it's under 3000.

00;35;51;19 - 00;35;54;02

Kim Chapman - Host

But that is the responsibility of the habitat.

00;35;54;03 - 00;36;14;27

Terilyn Scott - Habitat Mortgage Coordinator

Correct. And we get sometimes we get assistance from different agencies that can maybe assist them with that, but it's up to that homeowner to find things of that nature. Like we have had churches that have assisted partners with their down payments, even though they have saved they can get gift and things of that nature. So it's up to them to reach out.

00;36;14;27 - 00;36;16;25

Terilyn Scott - Habitat Mortgage Coordinator

We don't assist in that part of it.

00;36;17;18 - 00;36;30;08

Kim Chapman - Host

Are there any other restrictions in terms of the mortgage? You know, some programs, for example, you have to be in your house at least seven years or you'll have to pay back X, Y or Z. So are there any type of restrictions?

00;36;30;08 - 00;36;58;04

Terilyn Scott - Habitat Mortgage Coordinator

There are markets restrictions. We are doing 30 year mortgages now. So you have to reside in your home at least 15 years after that. 15 years. If you feel like let's say you get a job offer in another state and you say, OK, well, I have to move, well, you can then sell your home back to Habitat. We are not going to purchase it for the remaining balance, but we will compensate you according to what the board thinks that you should be paid.

00;36;59;15 - 00;37;22;23

Terilyn Scott - Habitat Mortgage Coordinator

We do X that homeowners stay in the home for the duration of the markets. But like we said, life events come up and we do understand that they are not able to lease it or rent it out or anything like that. But after the 15 years, if they see that they do not want to be in the home anymore or they see where, you know, maybe they have to move job chains, anything like that, then there are necessary steps that we do take.

00;37;23;10 - 00;37;42;10

Kim Chapman - Host

OK, all right. That's some good information to know. So in terms of the actual closing, what is that process like? I know that that's got to be, you know, something for a long time. Come in and maybe I'll go to Sandra. I'm sorry, Sandra. And if you can remember, because I keep saying it's ten years ago, what was your closing process like when you finally got to the finish line?

00;37;44;00 - 00;38;05;29

Shondra Gauthier - Habitat Homeowner

That was such a clout for me. I remember getting the keys and signing the papers. However, I will say this at that time as I'm listening to Mr. Terrilynn speak about the different resources that are out there to pay closing costs at that time, I say I was with this program. They say it was like four to one or whatever match what I was saving.

00;38;06;09 - 00;38;35;15

Shondra Gauthier - Habitat Homeowner

Also, at that time, there were different organizations that I was able to apply to for grants to help with it. So I think what was most important was saving, you know, the way Habitat operated. They educated you off the bat. You knew this was coming up. So for me, I started saving initially. Once I found out that I was accepted into the program and it wasn't a lot, but within that two years, I had what I needed to put down for closing.

00;38;35;15 - 00;38;41;25

Shondra Gauthier - Habitat Homeowner

And plus some, like I said the most, the thing I remember outside of that was getting my keys to my new home.

00;38;42;07 - 00;39;00;27

Kim Chapman - Host

And I'll help you out because I think Habitat really goes above and beyond to make this process really, really a big deal because and I'll get one of you ladies to talk about the build when they first go out to, you know, to start, there's a blessing when they start to build. Can one of you tell our audience a little bit about that process?

00;39;00;27 - 00;39;11;25

Kim Chapman - Host

Attended one for the first time the other day, and it really is all inspiring because the homeowner literally gets to put the first nail in the wood so maybe I've answered my own question a little bit about it.

00;39;11;26 - 00;39;14;00

Alexis Jones - Habitat Family Selection Coordinator

Well, did did you have a blessing, though?

00;39;14;01 - 00;39;30;15

Shondra Gauthier - Habitat Homeowner

I did have a blessing at the build and it was awesome. Basically, what happened was I actually had my pastor to come out to help, bless the home and bless the materials and bless the volunteers. And also I did get to put in that personnel. But along with that, my son got to help me put in I was in there.

00;39;30;16 - 00;39;38;24

Shondra Gauthier - Habitat Homeowner

So it made it very surreal and it made it, you know, personable for us to know that, hey, this is our home, this is what we're doing. For our family.

00;39;39;01 - 00;39;58;14

Alexis Jones - Habitat Family Selection Coordinator

Yeah, we definitely want to make sure we're celebrating our homeowners during these really crucial times in that they're inviting everyone that matters to them. So like having their family there to put in those first nails and to take those photos with you as you're like cheering their self on is really important to us because it is a big part of our program.

00;39;58;24 - 00;40;15;10

Alexis Jones - Habitat Family Selection Coordinator

And we also have a dedication ceremony where we do the same thing. We'll bring people out here to celebrate our homeowners and all of those who helped them built this house because it's a huge deal. A lot of people never get this chance to become a homeowner. So we want to make sure that we're celebrating every step of the way.

00;40;16;00 - 00;40;30;00

Alexis Jones - Habitat Family Selection Coordinator

And then once we get to the closing ceremony or the closing meeting, that's a really big deal, too, because you're actually getting these keys to your house and getting to move your stuff and so it's so fun. Do you remember when you move into your house?

00;40;30;00 - 00;40;53;14

Shondra Gauthier - Habitat Homeowner

The night we got the keys, we slept on the floor with no furniture. Yeah, it was something to be celebrated. We had pizza on the floor with blankets and, you know, then we moved into the place like literally the next week. So we were rocking and roll and it was a beautiful experience. I always encourage people now that I see I talk to them about Habitat because I think home ownership is very, very important.

00;40;53;27 - 00;41;12;07

Shondra Gauthier - Habitat Homeowner

And like you said, it's a mental block. You think you can't do it, don't say what you can't do. I think the beautiful thing about it is no matter what your credit looks like, Habitat educates you on, Hey, this is what you need to take care of, and they'll give you those resources to take care of it. And you can make a conscious decision.

00;41;12;12 - 00;41;30;06

Shondra Gauthier - Habitat Homeowner

Decision is this for me? Can I do this? But I think for me during that process, them giving me those resources to figure out what I needed to do to have home ownership for myself, I think anybody could do it if they just put their minds to it and and willing to work for it. It could happen.

00;41;30;13 - 00;41;53;17

Kim Chapman - Host

And you actually stole my thunder. I was going to ask you to speak to our audience. If there's somebody out there listening, thinking, homeownership is not for me, I won't qualify. I don't have money. I don't have credit. It sounds like it's a lot of work. What would you say to them, especially looking back ten years ago where you were homeless and now you've been in your home for two for ten years, you had babies and now they're teenagers.

00;41;53;21 - 00;42;02;00

Kim Chapman - Host

What would you say that that person and what would be your encouraging words to get them to go ahead and apply or at least look a little bit more into habitat?

00;42;02;00 - 00;42;28;22

Shondra Gauthier - Habitat Homeowner

It is hard work, but it's so worth it. And it I mean, it wasn't discouraged. And the process for me was not discouraging at all. Worst case scenario, you're going to learn some things, and I think that's a blessing in itself. Best case scenario, you're going to be a homeowner soon. Either way, you're going to come out of it with something and having a better understanding of what you need to do to go forward financially for your family and to work towards those financial goals in your life.

00;42;29;16 - 00;42;53;18

Kim Chapman - Host

All right. And I'll ask you ladies the same thing for our potential listeners. That are out there that may be thinking about this particular program applications. Is it is the application season open? I know at one point in time there weren't particular time periods that they could do applications. Talk a little bit about that. And again, what would be your last encouraging words to somebody listening to get them to go ahead and make this a reality?

00;42;54;05 - 00;43;18;19

Alexis Jones - Habitat Family Selection Coordinator

Yeah. So our application seasons have changed a little bit. We have opened our program and we're trying all kinds of new things to make sure that we're getting the information out there to our potential applicants. So right now our application season is open. You can turn in an application for our homeownership program and you can attend those orientation sessions.

00;43;18;19 - 00;43;43;26

Alexis Jones - Habitat Family Selection Coordinator

If you go to our Web site, Habitat VR, LA Dot org, you can email somebody from our team who will help schedule an orientation for you so you can learn more about our program. And something I would say to our potential applicants is I know that finances can be anxiety inducing. Thinking about taking such a big step for you or your family can be really hard.

00;43;44;04 - 00;44;14;08

Alexis Jones - Habitat Family Selection Coordinator

But just taking that first step is all that it takes because we see people who have applied for our program more than one time, but they keep trying and they are dedicated to completing this goal for themselves. And I love when I see that person get to get their keys to their house and they get to do that first nail, and I get to hold their hand while they do that because it is so exciting to see what they've done for themselves and to see how hard they've worked to improve their lives.

00;44;14;19 - 00;44;17;04

Alexis Jones - Habitat Family Selection Coordinator

So that's what I would say to any potential applicant.

00;44;17;14 - 00;44;36;06

Terilyn Scott - Habitat Mortgage Coordinator

I would say, How bad do you want it? How bad do you want to be a homeowner? It takes dedication, it takes hard work and it takes diligence and you have to stick to it. So anything that you want you're going to work towards. And this is something that is definitely an investment to the partners, their children, the neighborhoods around us.

00;44;37;03 - 00;44;53;25

Terilyn Scott - Habitat Mortgage Coordinator

I would definitely say just by looking at our mortgages you're going to pay more for for a rental property in Baton Rouge than you will for a mortgage with Habitat. So that's that's the best thing that I could give to someone.

00;44;54;05 - 00;45;01;12

Kim Chapman - Host

And are you able to tell them, maybe give them an idea of what a mortgage payment looks like, do habitat? That's the one thing I think we didn't discuss.

00;45;02;00 - 00;45;11;02

Terilyn Scott - Habitat Mortgage Coordinator

An average payment right now would be about 500 to $550 for a three bedroom, one half bath home. That's yours. Yes. Yes.

00;45;11;03 - 00;45;26;04

Alexis Jones - Habitat Family Selection Coordinator

No, I don't think that Terrilynn mentioned the exact way we sell the mortgages, but we sell them for the appraised value. So if your house appraises for $120,000, that is what your mortgage will cost you. And that's broken down over the 30 years, 30 years. That's how we keep.

00;45;26;04 - 00;45;27;01

Terilyn Scott - Habitat Mortgage Coordinator

That year low.

00;45;27;13 - 00;45;28;08

Alexis Jones - Habitat Family Selection Coordinator

Low and affordable.

00;45;28;17 - 00;45;52;19

Terilyn Scott - Habitat Mortgage Coordinator

And with the insurance we encourage them to get with the insurance company of their choice so that they can have, you know, a chance to get out there, see what it's like to shop for insurance see what it's like to find your own age. And we can assist in that process, but we encourage homeowners to do anything that they can to try to learn the process of what they're getting into because it's a commitment.

00;45;52;19 - 00;45;53;02

Terilyn Scott - Habitat Mortgage Coordinator

So.

00;45;53;29 - 00;46;14;08

Kim Chapman - Host

Well, I have loved sharing this information. I mean, you know, for so many people want to become homeowners and there are so many different programs, avenues or paths to doing it. But I know that there are a lot of barriers that exist. But I can tell you for certain that what we've learned today, habitat really is in the business of knocking down these barriers.

00;46;14;13 - 00;46;33;18

Kim Chapman - Host

It sounds like if you've got some credit issues, Habitat can work with you. If you don't have any money for a down payment, Habitat can work with you. And if you want a zero interest mortgage, habitat can work with you. So again, I hope this has been very beneficial to our listeners. Thank you all so much for coming here and sharing this information.

00;46;33;24 - 00;46;35;12

Shondra Gauthier - Habitat Homeowner

Thank you. Thank you for having this.

00;46;41;03 - 00;47;06;00

Kim Chapman - Host

Purchasing your first home is one of life's major events. How are we getting started? It can be a bit overwhelming. Here are a few tips to consider. When you are ready to take this next step, start doing your research early and establish realistic expectations start with your financial institution, but then don't limit yourself. They will have a lot of information, a wealth of information and resources to help point you in the right direction.

00;47;06;15 - 00;47;32;20

Kim Chapman - Host

Get with a certified financial counselor. They can help you sort out your finances to find out Are you ready, what can you afford? And that will help you determine if Habitat is right for you, or maybe a conventional mortgage is right for you. Beef up your savings. Becoming a homeowner takes money. It takes time. Money and effort. And you want to make sure you have money not only to be able to get into your house, but to be able to maintain it.

00;47;32;20 - 00;47;43;12

Kim Chapman - Host

And then finally, check out Neighbors. FCU that or forward slash financial education. To learn more on how to use the money you have, make the money you need and save the money you.