MILWAUKEE — In the city of Milwaukee, the typical home sells for about $228,500 according to Zillow, and with down payments, closing costs and credit requirements, homeownership can be out of reach for many.
The nonprofit Neighborhood Assistance Corporation of America, known as NACA, hosted its Achieve the Dream event this weekend, walking prospective homebuyers through the process to qualify for a mortgage and removing some common barriers to homeownership.
Watch the video report below:
Roxanne Walczak lives in an apartment with her son, who is on the autism spectrum. She and her son are hoping to buy a home together.
"I'm trying to get him on his own. Recently, I was diagnosed with breast cancer and I've been going through treatments and stuff and I want to make sure that he is set up in a good place to live his life," she said.
Walczak said there are financial challenges to buying a home.
"It's very tough trying to figure out how to save up enough money. You are just trying to get by, pay your bills," Walczak said.
Claunette Guise, who drove to the event from Indiana, said the current economic climate has made homeownership harder to achieve.
"The high rising costs in the economy we are in, it does play a big factor," Guise said.
At the event, prospective homebuyers start with a workshop, then upload financial documents and sit down one on one with a housing counselor. In some cases, they leave knowing whether they qualify for a mortgage.
"Homeownership is very important to me because it is something that I can leave to my daughter," Guise said.
According to NACA, the organization offers a mortgage with below-market fixed interest rates, no down payment or closing costs and does not consider credit scores.
Walczak and her son qualified for a mortgage at the event.
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