Preparing Families for Homeownership

Homebuyer Readiness Program

When families are disqualified from the homeowner selection process, it is a setback but not the end of their dream of owning a Habitat home.

Since Habitat introduced the Homebuyer Readiness Program (HRP) in 2010, more than 500 families have attended our three part workshop series that addresses the biggest problem areas causing disqualifications from the Habitat program: high debt, bad credit and poor money management.

"Demystifying credit and providing families with access to financial knowledge and tools helps to make their goals tangible realities. Financial education is a necessary first step towards success." says Monique San Miguel, Homebuyer Readiness Counselor.

Many families have very little knowledge of how to change their credit scores, spending habits and debt. The HRP workshops give them the information they need to change their financial situation and help get them on the right path to setting realistic goals, like budgeting, saving and on-time bill payment. One-on-one credit counseling and credit reports are also available to families at no cost.

Rather than dwelling on past problems and missteps, the workshops give families tools and resources to make positive changes that will help them achieve financial stepping stones like paying down debt, or milestones like purchasing the home of their dreams. "We cannot change our past, but we can redefine our future," says San Miguel.

"I made many mistakes in the past because I did not know anything about credit."

Homebuyer Readiness Program Workshop Participant

Sponsor Note:
Habitat salutes Citi, Wells Fargo, Charles Schwab Foundation, American Century Investments Foundation for their support of this program and responsiveness to the community's need.