Robert and Kristen Cook came to NeighborWorks Home Partners after an online search was confirmed by a recommendation from a friend. When they came to us in January of 2016, they had resolved to purchase a home within one year. But credit issues meant that they’d have some hurdles to overcome first. With coaching through NeighborWorks Home Partners Financial Capability program sponsored by the Minnesota Housing Finance Agency, they were able to receive long-term guidance and encouragement to pursue their dream (and found some help with a down payment along the way!)

Working with their advisor, the Cooks created an action plan to put them in a better position to qualify for a mortgage and afford a home. This plan included paying off old debt, paying down their credit cards, and increasing their savings.  Robert and Kristin realized that this was a lot of work, but they were up for the challenge.

In less than a year, they had improved their credit score enough to reach the mortgage qualification level. But they needed to be in a better position with other debt before they could take on a home loan.  With their eye on their goal, they changed their spending habits, made sure to pay their current credit cards and loans on time, and continued to pay off their old debts.

After 2 ½ years of hard work, they increased their savings, paid off old debt, and paid down their credit cards.  Their credit score increased almost 150 points!  They were ready and were soon pre-approved for a mortgage.

Working with NeighborWorks Home Partners had another benefit: after talking with their advisor, they learned about a down payment loan program through NeighborWorks Home Partners that would increase their buying power.

While their preparation was a long journey, when it came time to shop for a home they didn’t have to look far. Their new home is in a community they already loved, less than a mile from where they were renting.

Google “millennial homeownership” and you’ll come upon story after story about a generation choosing alternatives to buying houses. But a vacant home restored by our Development team turned out to be a perfect match for one young buyer.

This house on the corner had suffered years of neglect and was filled with the collections of its previous owner – including some explosively unique items like live mortars! The home was restored to bring out historic qualities while improving the function and improving energy efficiency. When it was listed for sale, it was found by a 24-year old business owner looking for her first home, and it was love at first sight.  The down payment assistance that NeighborWorks Home Partners offered through Project Reinvest and Community Keys made it all possible.

The new homeowner, Salvia, is a 24-year-old fashion designer at Clothier Design Source, a local apparel developer and manufacturer in Saint Paul. She began to pursue homeownership after a challenging search for a new apartment.

Q: How did you decide to buy a home?
A: My family always encouraged homeownership. I was looking at apartments and it was crazy.  I have a pit bull and it can be hard to find places to rent that will allow dogs, especially her breed, and rents were high. It was cheaper to buy through NeighborWorks than to rent!

Q: Did it take you a long time to find a home?  Was it hard to decide?
A: I looked at a lot of houses. I knew this was the one as soon as I walked in! This house is in great condition and I don’t have to make a lot of repairs, which is good because I don’t have a lot to spend!

Q: What did you think of the homebuyer education?
A: There were some things I already knew, but I learned a lot. The biggest thing for me was that I didn’t know what equity meant and how to build it, but now I’m doing it.

Q: What does it feel like to own your home?
A: I feel excited and totally overwhelmed! It’s been a long process and now I’m excited for the next adventure! I’m going to paint the walls with birch trees. I’ve already met a lot of the neighbors – my next door neighbor is going to teach me about gardening.

Q: Did you think this would happen at this stage in your life?
A: I am super surprised that I have a house now! I just turned 24. But I think I’ve inspired a lot of my friends and shown them that this is something that could be done! A lot of us don’t have a lot of money – life is expensive! – but this was achievable.  I couldn’t have done it without NeighborWorks Home Partners, Community Keys, and Project Reinvest.

Omar works full time as a night security guard, a position where he is responsible for keeping a calm and orderly environment. But his life was turned upside down when a fire damaged his Woodbury townhome and rendered it uninhabitable. He found he had nowhere to live, and that the insurance settlement would not be enough to restore the home.

Omar’s home is part of a 10-unit townhome complex that was built by Habitat for Humanity.  As a townhome, the insurance policy is purchased and held by the governing association, and the insurance claim was even more complex than usual. With the settlement falling short, and Omar unable to find other financing to make up the difference, the neighbors were also saddled with a a damaged and vacant unit without options for repair.

Thankfully, the City of Woodbury had recently launched its partnership with NeighborWorks Home Partners to administer home improvement funds for city residents. Working together, Omar was able to get a loan at below-market interest rates that will bridge the gap and allow Omar and his family to move back into their home before the end of the year.

Throughout the process Omar became a friend to our staff, coming to the office bright and early first thing in the morning to take care of business in person. He was thrilled with the process and the outcome: “You did everything right. It was all 10 out of 10! And I think my neighborhood is happy, too.”

It’s a partnership we couldn’t be more proud of.