Project Build a Future’s (PBAF) mission is to revitalize its target area through quality, affordable homeownership initiatives. To accomplish this mission, PBAF engages in homebuyer counseling and education services, providing one-on-one counseling and collaborating with partners to provide certified homebuyer education classes. In addition, PBAF develops single family housing that is sold to working families at an affordable price, helping them to build equity and establish financial stability. PBAF also provides down payment assistance and offers a Lease to Purchase Program to assist clients in moving toward their goal of homeownership. PBAF’s goal is to stabilize the low-income community we serve by providing financial education that leads to opportunity and growth for the families we serve. We believe that financial stability for the residents of the community we serve will result in economic opportunity and stability for the community as a whole.
PBAF accomplishes its ambitious mission with a few simple programs and services:
The Homebuyer Counseling & Education Program provides counseling services to households wanting to purchase a home. Homebuyer Counselors meet individually with homebuyers to work on budgets, examine income and determine how much home a family can afford. Many of PBAF’s homebuyers have issues with credit and/or debt, and PBAF Homebuyer Counselors work closely with the homebuyer to create a Credit Repair Action Plan. The Action Plan details what debts to prioritize and what new lines of credit to open and maps out a payment plan to determine how to reduce debt and ultimately get into a position to purchase a home. PBAF’s Homebuyer Counseling services are free, but we do charge to pull a tri-merged credit report which becomes the backbone of the Credit Repair Action Plan.
The Lease to Purchase Program becomes available to a homebuyer once he or she has made significant progress on the Credit Repair Action Plan and is within six months of being mortgage ready. Once it is determined that the homebuyer is rear mortgage readiness, then PBAF homes are offered through the Lease to Purchase Program. Under the program participants can lease a PBAF home for up to six months, while they are saving money to purchase their home. The Lease to Purchase Program gives participants additional time to save money while their rental costs are low. In addition, it helps to prepare them for homeownership as PBAF staff trains them in home maintenance and repair.
The New Construction Program builds high quality homes that are a true asset to the neighborhood and to the homebuyers. Under the New Construction Program, PBAF build s homes from 1400 square foot homes that have three bedrooms and two baths. The homes include energy efficient features and beautiful finishes, such as crown molding, ceiling fans and open concept floor plans. PBAF homebuyers can assist in making selections on their home by choosing the color of the flooring, the finish on the electrical fixtures or the interior paint colors. At the end of the 3-6 month construction process, the homebuyer can move into the home under the Lease to Purchase Program and lease for up to six months, at which time the mortgage is put in place and the family becomes the official home owners!