This is an article I did for The Voice, the newspaper of Seattle social service agency Neighborhood House. The article tells the story of the Nguyen family, who were able to buy a home with the help of the Homeownership Program at the International District Housing Alliance (IDHA), where I was their counselor.
The story is available here:
http://www.kcha.org/currentresidents/documents/SeptemberVoice.pdf
Home ownership program makes purchase possible
BY ELAINE MAGIL
Special to the Voice
Ever since the Nguyen family moved from Vietnam to the United States, They’ve worked toward the American dream of owning a home.
Settling at Park Lake Homes in White Center, both parents found jobs and saved what they could.
After years of hard work and with help from the International District Housing Alliance’s Homeownership 1-2-3 program and KCHA’s Resident Opportunities and Self-Sufficiency Down Payment Assistance Program, the Nguyens’ dream has come true.
The Nguyens didn’t just buy any home—they bought a brand-new, single-family house in southwest Seattle. The location is perfect, not too far from their old apartment at Park Lake.
“I’m thankful that the house is real and affordable, and works with my income,” said Mr. Nguyen, who asked that his first name not be included in this story.
Nguyen and his wife have four children. The eldest boy is already thriving at the University of Washington and the eldest girl is set to attend college soon.
Nguyen said the house provides needed space for himself and his family.
The Nguyens were able to add to their savings with an Individual Development Account, which provided them matching grant funds for every dollar they saved.
They also received down-payment assistance from another nonprofit agency called HomeSight.
The KCHA ROSS Down Payment Assistance Program provided $15,000 toward the purchase of their new home.
This is money that the family will never have to pay back, as long as they live in the home for at least three years.
Residents who get the grant and then move within the first few years must pay back some of the money.
Either way, this program can help residents make a bigger down payment on a home, which means they will need a smaller loan and pay less interest over time. It can also mean the difference between a family being able to buy a home or continuing to rent.
Not all residents are eligible for ROSS grants or IDAs, but Homeownership 1-2-3 can still help them find down-payment assistance programs and make the sometimes confusing process of buying a home easier to understand.
With translators on staff, IDHA focuses on helping immigrants and refugees with the home buying process.
So far, the International District Housing Alliance has helped 11 families from KCHA and the Seattle Housing Authority purchase homes.
With the ROSS grant and a little guidance from Homeownership 1-2-3, more KCHA residents will likely be able to buy homes soon.
If you are interested in learning about home ownership programs, you can contact IDHA at (206) 623-0122.
Elaine Magil is a homeownership counselor/educator with the International District Housing Alliance.