A Home Run!
As newlyweds in Central Oregon, Anthony and his wife aspired to put down roots and start their married lives in a home of their own, but they struggled to find somewhere affordable to live. Anthony tried to build savings, but his rate of saving could not keep up with rising real estate market costs. In talking to co-workers, Anthony learned that NeighborImpact had a program that could help.
HomeSource homeownership counselor, Eric Pashia, encouraged Anthony and his wife to enroll in the IDA Matched Savings Program. There, his savings contributions would be matched 5-to-1 for a total of up to $10,000. While he worked to build his savings, Anthony attended financial and homebuyer education courses, where he learned to set and achieve financial goals, create a budget, improve credit and navigate the homebuying process. Anthony also worked with NeighborImpact’s Lending program to receive a low-interest down-payment-assistance loan that would eliminate the need for expensive mortgage insurance.
After graduating from the IDA program, Anthony and his wife had enough saved up to cover a portion of a down payment. With help from NeighborImpact and a lot of hard work, they not only bought a home but also paid off their college debt!