Wells Fargo Housing Foundation Grants GROW South Dakota $5,000 to Create Sustainable Homeownership Opportunities through Homebuyer Education
Thursday, December 11, 2014
GROW South Dakota today announced it has been awarded with a $5,000 grant from the Wells Fargo Housing Foundation to create sustainable homeownership opportunities for low- to moderate-income communities through homebuyer education. “GROW South Dakota realizes education is the key to starting and maintaining successful homeownership. If new homebuyers are well informed and knowledgeable about the responsibilities of homeownership before they purchase their home, the likelihood of successful home ownership is much greater.” stated Lori Moen, Chief Operating Officer of GROW South Dakota. GROW SD's goal in homeownership education is to offer a continuum of strategies to ensure successful sustainable homeownership for people of modest means. Homeownership Counseling Programs at GROW SD are offered at no cost to clients and include classroom and one-on-one education options. Various types of education topics are covered through homeownership counseling to meet individual needs such as, obtaining rehabilitation loans, reviewing credit reports/scores, payment analysis, repairing credit, completing loan applications, loan closing processes, budgeting, predatory lenders, energy savings measures, and post-purchase education. Following counseling, if the client is prepared to make the loan commitment, GROW SD advises them on the steps needed to obtain construction estimates, down payment/closing costs to be anticipated, best mortgage options, and post-closing procedures.
Since 1993, the Wells Fargo Housing Foundation has stewarded nearly $300 million to nonprofits in support of affordable housing and community revitalization programs. Wells Fargo Housing Foundation programs have also delivered 4.7 million volunteer hours to build or rehabilitate more than 5,000 homes during the past two decades.
Category: GROW SD