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Of YourOwn

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.

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Of YourOwn

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  1. Of YourOwn

  2. 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:

  3. Fort Worth Dallas El Paso Austin Houston HOYO Network Five local chapters--and plans for more!

  4. Barriers to Homeownership Encountered by People with Disabilities Low Incomes & Fewer Credit/Financing Opportunities Lack of Accessible & Affordable Housing Attitudinal Barriers

  5. Texas HOYO Values Choice … Independence … Community All individuals with disabilities can and should live in the community, given the appropriate supports they need to be successful.

  6. Texas HOYO Values Choice … Independence … Community Support services, including homeownership services, should be tailored to the needs of the individual with disabilities and their family.

  7. Texas HOYO Values 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.

  8. HOYO is unique because it brings together 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.

  9. Important Note! 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.

  10. Partner Commitments That’s cool. Participating organizations and partners are asked to commit to provide specific services, as appropriate to their business.

  11. Outreach, Outreach, Outreach!! Disability agencies/organizations Consumers, family, and advocates & Partners

  12. State housing development 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

  13. 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.

  14. 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).

  15. Policies 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

  16. Appoint a representatives who will 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

  17. Lenders offer targeted 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.

  18. Community Lending • 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.

  19. New Market • 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!

  20. HOYO Program Supports 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.

  21. Path To Homeownership 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.

  22. Complete Homebuyer Education 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.

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

  24. Make referrals to HOYO 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

  25. Pre-Purchase Borrower Educationand Counseling • -Homebuyer education class • -Consumer credit counseling • -Homeownership plan • -Budget preparation and mortgage • financing counseling Post-Purchase Follow-up & Support Homebuyer Counseling Services

  26. 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

  27. 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.

  28. WELCOME

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