2019 Financial Coaching Success Story
Owning a home was a long-term goal for Dover resident Jennifer. As a single mom, her family is her top priority. Jennifer was renting a townhome with her mother, her two children and her niece. Her low credit score, mounting debt and high expenses left her feeling discouraged. She started to think moving out of the crowded townhome would never be a reality. Jennifer shared her concerns with a coworker who suggested she contact NCALL.
Jennifer attended a Homeownership Orientation and was set up with a financial coach through NCALL’s innovative $tand by ME program. The program, funded through the Delaware Financial Empowerment Partnership, enables people to establish their financial goal and work towards it using resources provided by their coach. This program is free to all Delaware residents regardless of age or income.
Jennifer said her coach asked probing questions to help guide her step-by-step on what she needed to do to get her finances in order. “It’s overwhelming when you look at the big picture, but my coach broke it down for me in baby steps, and I realized it’s completely doable,” Jennifer said. “She printed my credit report and helped me decide which debts to pay first. I was able to bring my credit score up 200 points by working with my coach.”
Once Jennifer had better control over her finances and her credit score improved, she applied for a mortgage through Central Delaware Habitat for Humanity (CDHFH). Eligible applicants must meet specific income requirements, be willing to partner with CDHFH, pay a Habitat mortgage, and complete a vigorous 250 hours of sweat equity on their home.
Jennifer was approved to be a partner family with CDHFH and is scheduled to go to closing in March. Her new home will be a single-family home with plenty of space for Jennifer and her family. “It’s a dream come true!” she exclaimed.
“My coach was my biggest cheerleader. I’m so happy I took the first step and called NCALL. It was the best decision I ever made!”