The two biggest homeowner challenges facing renters today
Welcome, We look forward to our possibly helping you and helping the community by creating a prouder, stronger neighborhood of homeowners.
To do that we need to look at the two biggest issues facing renters today.
Savings, the average money needed to purchase a home today is 9,300 dollars. The average family has 2,455 dollars in their savings total, savings is down 31% across the board just in the last 4 years alone.
That means the average family is 6945 dollars short of even being able to afford a home of their own even if they had the credit. This brings us to the next big issue.
Credit. Unfortunately since the bank lending collapse in 2006, banks have reduced lending , some even went out of business and everyone’s credit has seemed to take a huge decrease. This has made it almost impossible to meet the strict guidelines the banks have created of who they feel deserves to be lent to.
With these 2 factors alone the odds of home-ownership are discouraging, however there are families who have been successful in becoming homeowners in spite of having these challenges. More importantly owners are sending a message to their family that home-ownership is not out of reach and their kids will be 84% more likely to also have the pride of owning their own home because of them.
Here are the steps to overcoming the homeowner challenges.
Grants and assistance, there are programs out there available to offset this upfront money needed. A knowledgeable homeowner specialist will know these.
Get a proper diagnosis, from a homeowner specialist who works hand in hand with mortgage brokers and can determine your best plan for rapid credit repair and make it happen.
Proper diagnosis involves, getting a snapshot of your current credit condition. Identify the optimal conditions needed; acquiring and deleting and defining a start and end point and time frame.After the diagnosis, a homeowner specialist can structure a plan for both receiving the grants and the repair.
Studies show that only 11% of renters in Philadelphia can or will own a home in the next 5 years, with the help of a homeowner specialist, over 70% could own, most within 90 days. That’s much better than throwing your money away every month and making your landlord wealthy.
Do your homework, judge programs on their successes, make sure the program offers information and guidance. A homeowner specialist can’t do it all for you, a solid commitment from you is critical and worth it.
Find a homeowner specialist who is very knowledgeable, hands on, relationship focused, committed to success through weekly tracking.
Most potential buyers can expect to be qualified to own the home they choose within 90 days, with as little as 600 dollars down.
Our goal is to help 2 families per month realize the dream of home-ownership.
We look forward to meeting with you to go over the program and get you started with the dream of home ownership.
If you have any questions before then, write them down and we can go over it when we speak.
Steve Deblasio, Director
Office: 215-344-2727 Send Text
Mobile: 484-612-5950 Send Text
Email: steved@asapoutreach.org
