Of YourOwn
Download
1 / 28

Of YourOwn - PowerPoint PPT Presentation


  • 101 Views
  • Uploaded on

Of YourOwn. More than 175 people with disabilities have joined the ranks of Texas homeowners. More than 600 additional individuals and families are in various stages of the home buying process.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Of YourOwn' - hoai


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

Slide2 l.jpg

More than 175 people with disabilities have joined the ranks of Texas homeowners.

More than 600 additional individuals and families are in various stages of the home buying process.

Generated more than $9 million for homeownership support from government agencies, grants from private foundations, private mortgage loans and other sources.

Since 1996:


Slide3 l.jpg

Fort Worth of Texas homeowners.

Dallas

El Paso

Austin

Houston

HOYO Network

Five local chapters--and plans for more!


Slide4 l.jpg

Barriers to Homeownership Encountered by People of Texas homeowners.

with Disabilities

Low Incomes & Fewer Credit/Financing Opportunities

Lack of Accessible &

Affordable Housing

Attitudinal Barriers


Slide5 l.jpg

Texas HOYO Values of Texas homeowners.

Choice … Independence … Community

All individuals with disabilities can and should live in the community, given the appropriate supports they need to be successful.


Slide6 l.jpg

Texas HOYO Values of Texas homeowners.

Choice … Independence … Community

Support services, including homeownership services, should be tailored to the needs of the individual with disabilities and their family.


Slide7 l.jpg

Texas HOYO Values of Texas homeowners.

Choice … Independence … Community

  • People with disabilities should have control over the support services they receive —including the services that support them along the path toward homeownership.


Slide8 l.jpg

HOYO is unique because it brings together of Texas homeowners.organizations representing a broad range of expertise andexperience, not just in disability, but also in fields associated with homeownership such as mortgage financing, housing development and real estate.


Slide9 l.jpg

Important Note! of Texas homeowners.

A big part of Texas HOYO’s job is educating prospective coalition members and others about people with disabilities and the importance of Texas HOYO values.


Slide10 l.jpg

Partner Commitments of Texas homeowners.

That’s cool.

Participating organizations and partners are asked to commit to provide specific services, as appropriate to their business.


Slide11 l.jpg

Outreach, of Texas homeowners.

Outreach,

Outreach!!

Disability agencies/organizations

Consumers, family, and advocates

&

Partners


Slide12 l.jpg

State housing development of Texas homeowners.

and finance agency

Collaborate with other HOYO partners to make homeownership a reality for people with disabilities and their families

Texas Department of Housing and Community Affairs


Slide13 l.jpg

Home Investment Partnership Program (HOME) through the state housing agency

TDHCA’s Involvement

Down Payment and Closing Cost Assistance:

Up to $15,000, based on family income, to assist with down payment and closing expenses.


Slide14 l.jpg

Owner-Occupied Rehabilitation (OOR) – HOME funds through the state housing agency

TDHCA’s Involvement

Home Modifications:

Removing architectural barriers and/or adding accessibility features (up to $20,000 through Texas HOYO–the amount varies based on assessment).


Slide15 l.jpg

Policies the state housing agency

Created Disability Advisory Committee

Commit resources to conduct an in-depth study of the housing needs and preferences of people with disabilities.

Integration Definition: TDHCA fully supports housing that provides for integration of people with disabilities into the general population

TDHCA: Partnership Efforts


Slide16 l.jpg

Appoint a representatives who the state housing agencywill work together with other partners to further housing and homeownership opportunities

Lender Participation

Collaborate with other HOYO partners to make homeownership a reality for people with disabilities and their families


Slide17 l.jpg

Lenders offer targeted the state housing agency

mortgage products

Fannie Mae loans are targeted to low- to middle-income families and individuals, including HomeChoiceSM –a product developed specifically for people with disabilities who are first-time home buyers.


Slide18 l.jpg

Community Lending the state housing agency

  • Mortgage counselors specially trained in affordable lending products and services

  • Down payment assistance available through local programs

  • Mortgage loans (also known as “portfolio” loans) offered as part of efforts to comply with the federal Community Reinvestment Act.


Slide19 l.jpg

New Market the state housing agency

  • Participating in the Texas HOYO effort and partnering with Fannie Mae has provided a new population of people not previously outreached to for mortgage lending.

  • Mortgage lending staff participate in awareness building about the housing needs of a person with a disability.

  • It is good business!


Slide20 l.jpg

HOYO Program Supports the state housing agency

Long-standing myths and stereotypes about people with disabilities pose serious barriers in developing productive relationships with lenders, realtors and others in the housing industry.


Slide21 l.jpg

Path To Homeownership the state housing agency

Call HOYO

Home

Attend HOYO orientation to discuss possible barriers to homeownership

1.800.988.4696

Are you ready to continue the home buying process?

NO?

Work on barriers and let HOYO know when you’re ready to try again.

YES?!!

Complete application & wait for word about approval and possible barriers.


Slide22 l.jpg

Complete Homebuyer the state housing agencyEducation Class

Submit loan application with HOYO commitment for down payment. When you qualify for a loan, contact the realtor of your choice.

Keep working on credit and/or saving money (if necessary)!

Locate a home. Make an offer with the HOYO stipulation of approval.


Slide23 l.jpg

HOYO Homebuyer Counseling Challenges the state housing agency

Compared to the general population, people with disabilities are more likely to have limited income, lower cash reserves and higher disability-related expenses.


Slide24 l.jpg

Make referrals to HOYO the state housing agency

Promote HOYO in the community

Collaborate with other HOYO partners to make homeownership a reality for people with disabilities and their families

Housing Counseling Organizations


Slide25 l.jpg

  • Pre-Purchase Borrower Education the state housing agencyand Counseling

    • -Homebuyer education class

    • -Consumer credit counseling

    • -Homeownership plan

    • -Budget preparation and mortgage

    • financing counseling

Post-Purchase Follow-up & Support

Homebuyer Counseling Services


Slide26 l.jpg

Had strong connections with local agencies and organizations and able to tap into a variety of community resources.

An existing organization with a strong presence and credibility in the community.

Had a good track record in administering programs, grants and funds.

Was motivated to do something about the urgent need to create more housing options for people with disabilities.

Becoming a Local Lead Agency


Slide27 l.jpg

Funding and support for the Texas Home of Your Own has been provided by the Texas Council for Developmental Disabilities, Fannie Mae Corporation, Federal Home Loan Bank, Bank One, Texas Department of Housing and Community Affairs, United Cerebral Palsy of Texas and private donations.


Slide28 l.jpg

WELCOME provided by the Texas Council for Developmental Disabilities, Fannie Mae Corporation, Federal Home Loan Bank, Bank One, Texas Department of Housing and Community Affairs, United Cerebral Palsy of Texas and private donations.