A Real Estate Group Fights for
HOUSING FOR ALL By Tonya Jameson
K
enneth Greene still remembers the feeling of closing on his first house. It was the day after Christmas in 2018, but for him it still felt like Christmas day. Most homebuyers can relate to the exuberance that comes with getting the keys to their new house, but Greene also recalls the hurdles that he leapt to get those keys. As a Kenneth Greene first-time homebuyer living outside of Charlotte with limited savings, the odds were stacked against him. Greene, however, gained what many aspiring homebuyers lack – knowledge. Greene teamed with Jaime Young of Canopy Realtors, which has a foundation that specializes in assisting middle-income, firsttime home buyers. “My passion is Jaime Young to help minorities own more,” Young said. “Everybody should have an equal opportunity to own the American dream. We have to build wealth in our community. It can’t just be in one community.” Working with Greene and buyers like him isn’t simply about making another sale, it’s part of the mission of the Canopy Housing Foundation to help first-time homebuyers. The foundation is the charitable arm of the Canopy Realtor Association. The association says it works
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Top 5 Myths to Homeownership
1 2 3 4 5
Income – I can't afford a home because I don't make enough.
Down Payment – You need to have 20 percent down to own a home. Credit – You need a 700 + credit score. Student Loans – I have too many loans. Home Ownership – It's cheaper to rent than to buy.
Source: Jamie Young
to address unmet housing needs and advocates for fair and affordable housing standards and practices. The foundation checks the familiar affordable housing boxes such as supporting Habitat for Humanity. The foundation uses the same criteria for qualification as organizations like Habitat for Humanity. In fact, the foundation conducts a Habitat Support Program to fund regional Habitat for Humanity organizations and its Community Grants Program aids local housing organizations to expand and improve the sustainability of housing in the community. Most impressive, however, is the foundation’s commitment to educating realtors about affordable housing and the needs of minority homebuyers through its Workforce Housing Certificate Program. “We want to go out of our way to make sure that we provide housing for all people,” Young said.
Kenneth Greene’s first home in Gastonia, N.C.
The organization specializes in serving middle-income individuals such as teachers, firefighters, police, nurses and retail workers. Homebuyers applying for down payment assistance must take an eighthour course provided by organizations such as Community Link, Young said. Greene, a store manager, said that education was critical to helping him buy his house in Gastonia in December 2018. Still, it wasn’t easy. “We were denied a good four or five times before we got that yes,” he said. In the homebuyers’ course, Greene learned about finances, budgeting and what to expect during the homebuying process, among other things. He learned tips such as the importance of being able to show proof of an established savings. He learned the hard way that getting a title loan on a car to show proof of savings wasn’t acceptable. He learned about the importance of showing consistent employment at the same company. His wife at the time often switched jobs and that counted against them, he shared. “I’m glad I went through that. It taught me to appreciate everything.” After Greene and his wife divorced, he sold the house and received more than the listing price. He used the money to pay off debt and rebuild his finances. Although Greene is currently living in an apartment, his goal is to buy land and build again. Next time, he says, he’ll know what to expect. Greene’s advice for potential homebuyers is to save, save, save! P
