Bronxites Are Interested in Homeownership!
Thirty-three Bronxites attended UNHP’s First-Time Homebuyer Event.
Thirty-three Bronxites came out to UNHP’s First-Time Homebuyer Event/Evento Para Primeros Compradores De Casa on Thursday, May 2nd to talk to lenders, find out about special incentives and move forward on their path to homeownership. The UNHP-sponsored event included two home-buying basics presentations, one in English and the other in Spanish, access to credit reports, and an opportunity to talk with community bankers from Citi, HSBC and Ridgewood Savings Bank about mortgage requirements and special programs. Neighborhood Housing Services (NHS) also participated in the presentation and was busy providing information about grants and special programs offered by NYC and NYS to promote homeownership for families with moderate incomes.
UNHP was able to use the recently renovated atrium at Fordham Bedford’s Concourse House to host the event. Citi, Ridgewood Savings Bank, and HSBC participated in the presentations and met individually with attendees at their tables. The evening was a bilingual event with all the information and presentations available in English and Spanish.
Jumelia Abrahamson, UNHP Director of the Northwest Bronx Resource Center, started out the presentation with the basic financial foundations necessary to consider a purchase; income, assets, and credit. Jumelia shared and reviewed a homebuyer assessment tool, the BronxOwner Guide and the Bronx Property Tracker with attendees. UNHP staff assisted attendees to fill out the homebuyer tool which reviews the overall financial picture and indicates the next steps for an interested homebuyer. The Bronx Property Tracker is a quick online tool that uses StreetEasy to review sales listings in the community.
Almost half of the attendees took the time to get their credit reports. 20 attendees also signed up for financial advisement or a personal finance course, known as Getting Ahead
Neighborhood Housing Services also participated in the presentation and spoke to people at their table. NHS offers 8-hour homebuyer class that is required for homebuyers who want to access NYC grant programs. UNHP usually hosts 1-2 homebuyer nights a year. The evenings offer an opportunity to work with Bronxites on their overall financial picture and identify and address barriers to financial stability and possible homeownership. On-site credit reports, enrollment in Neighborhood Trust Financial Partners Getting Ahead class and 1:1 appointments at the UNHP NWBRC/NYC Financial Empowerment Center were available during the evening. 16 people obtained their credit report, 12 people signed up for Getting Ahead and 8 people made appointments to meet with a financial advisor.
Two presentations were offered at the event, one in Spanish and one in English. The presentation offered an overview of home-buying basics. Jumelia from UNHP, each bank and NHS participated in the presentation
NHS provides access to the homeownership grants and programs offered by NYC. They are skilled homebuyer counselors that can assist moderate-income households purchase their first home in a challenging NYC real estate environment.
Attendees participated in an informal survey when they entered the event. Most wanted to purchase in the Bronx or NYC within the year. Attendees would prefer to buy a condo or a two family home over a co-op or single family home and for many their biggest obstacles to purchase was lack of savings or downpayment and the high price of properties.
New York City and The Bronx were the top picks!
There’s lots of opportunity for follow up for interested buyers;
- Citibank has a Meet the Specialist Day on 5/16/19 from 10 am until 2 pm at the 198th Street branch – Contact Christine (718) 561-1484
- Ridgewood Savings Bank has a Bronx homebuyer workshop scheduled – Contact Yvon Ponce De Leon (347)834-2265
- NHS is hosting A Community Resource Fair on 6/8/19 at the TWU Counseling Center. Contact NHS (212)519-2504
- Pre-Approvals, Home Club & Mortgage information available at HSBC – contact Juan E Cueto 646-752-0531
- UNHP’s Getting Ahead personal finance class starting May 9th,2019. Contact UNHP (718)933-2539
Thank you to our attendees, partners and fantastic bankers and counselors at the event.
First-Time Homebuyer Event/Evento Para Primeros Compradores De Casa
Move Forward on your Path to Homeownership!
Determine los Pasos Necesarios para Comprar su Casa en este Evento Gratis!
- Information and presentations from lenders on affordable mortgage products
- Learn about NYC and NYS grants and special savings programs
- Come early for your free credit report or pre-approval from attending lenders
- Sign up for free financial education workshops, 1:1 financial advisement, required 8-hour HUD homebuyer certification classes
- Access to NeighborWorks and HUD Certified Homebuyer Education Bilingual Counselors
- Federal Reserve matching savings Home Club information
- Citi, Neighborhood Housing Services (NHS), HSBC and Ridgewood Savings Bank will be present