HOUSTON (KIAH) — In hopes of making you more aware of your personal finances and resources that may be out here to help, Bank of America is partnering with Family Houston to host Houston Money Week.
The entities are holding a series of homebuying and financial literacy workshops the week of April 15-22. The mission is to emphasize the importance of financial education, inform consumers where they can get help, and provide free educational seminars, tools, and activities.
Typically first- time homebuyers face challenges including high home prices, interests rates, and closing costs. According to a survey conducted by the Urban Institute, homebuyers indicate that affording a down payment is a one of the biggest barriers in becoming a homeowner. According to HAR data, the increase in average sales prices for single family homes here in Houston has slowed down, but it has still increased 1.5% since January.
Bank of America already offers closing costs grant money locally but is now bringing its Down Payment Grant to Houston. When both grants are used together, homebuyers could be eligible for up to $17,500 to put towards down payment and closing costs, which no not need to be paid back. The grant program is aimed at helping low to moderate income homebuyers build personal and wealth and legacy through homeownership and financial education.
The start of Houston Money Week will kick off with the first homebuyer workshop on April 15 at Depelchin Children’s Center starting at 11 a.m. You can sign up for any webinar during the week for free by clicking on events tab on the Houston Money Week website.
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Source: cw39.com
