Stephanie always dreamed of owning a home, but nothing about her situation gave her hope that her dream would ever become a reality. Homeless and living with a relative, Stephanie had immediate worries. She wanted to be independent and she needed to convince a landlord to take a chance on her despite her credit history.
Minneapolis Urban League (MUL) Housing Counselor Lynne Kelly loved her job motivating people to identify life goals and coaching them to take advantage of the resources available to people facing housing and financial instability.
Right away, Stephanie sensed Lynne’s genuine concern for what she was going through, so when she completed the fair housing education and financial literacy classes Lynne recommended for her, Stephanie felt comfortable revealing to Lynne her dream of one day owning her own home. Lynne was encouraging. Once they’d solved her rental woes, Lynne convinced Stephanie to enroll into the Family Assets for Independence in Minnesota (FAIM) program, a matched savings project to help Minnesota low-wage earners start a savings plan and build assets. She also helped Stephanie establish a plan to pay off debt and open up credit to increase her rating.
Quicker than she could ever have imagined Stephanie completed the MUL’s First Time Homebuyers course (Realizing the American Dream), found down payment support from a program called Build Wealth MN, and carefully researched her options for choosing a realtor.
Empowered with the skills to carefully monitor her finances, Stephanie is now a proud homeowner. She will always be thankful to Lynne Kelly for making her realize that setting goals attaches meaning to the things you desire.
Learn more about how our Wealth Development Program can help with home ownership and financial stability.