Homebuyer Education Classes Offered this Spring by Gesher Human Services, as Homebuying Season Gets Busy

Photo courtesy of Gesher Human Services

In-person classes in Southfield, plus virtual option available to all Michiganders!

 SOUTHFIELD, Mich. ­– Gesher Human Services, one of the largest human service agencies in metro Detroit, will be offering Homebuyer Education Classes twice a month, starting with classes on April 8, April 20, May 4 and May 18. The classes are starting during April’s Financial Literacy Month, which raises awareness of the importance of financial education, smart money management, and establishing healthy financial habits. According to Rocket Financial, spring is the busiest time in real estate, with both sales activity and prices tending to rise. As the weather warms up, more homes are listed, offering a bigger inventory, although there also may be more competition for purchasing homes too. Families who are hoping to become homeowners this year can learn about the entire homebuying process, including credit education, how to qualify for a mortgage, mortgage terminology, proper home maintenance and how to avoid foreclosure. One class a month is held in person at the organization’s headquarters in Southfield (29699 Southfield Road) from 9 a.m. to 1 p.m. and another class is held virtually from 4-8 p.m. to allow people who are working to attend, including those from outside metro Detroit. To register go to geshermi.org/events.

Gesher’s Financial Education Manager Laltsha Cunningham said that the classes,

which are taught by Housing and Urban Development (HUD) certified homebuyer education counselors, are being held at a time of peak homebuying in metro Detroit. “For many families, owning a home is a dream come true, but to be successful in that goal it is vital to ensure credit scores are appropriate, that debt is being managed appropriately, that mortgage terms are understood and that the right lender is found,” she explained. “In addition, prospective homeowners may not be aware of the loan or grant opportunities available that can help make the goal of homeownership a reality.”

The class is approved as a qualifying financial education program for the Michigan State Housing Development Authority (MSHDA) Down Payment Assistance Program which provides $7,500-10,000 loans to families with limited incomes hoping to purchase a home. Cunningham says that along with the MSHDA loan program, there are currently other loan and grant programs including the possibility of a $25,000 grant (not a loan) for low-to-moderate-income residents of Detroit through the Detroit Down Payment Assistance (DPA) Program. Pontiac is also offering grants to residents through its Down Payment Assistance Program. Attendees of the classes will learn more about these.

Every year,

Cunningham sees participants in financial education programming take the leap into homeownership, including Molisia Young, 36, of Detroit.

Three years ago, Young, an employee of Gesher Human Services, was struggling financially and living in a one-bedroom apartment with her five children when she heard about Gesher’s financial education programs open to employees along with the wider community. Young was connected to a financial coach and took many financial literacy classes including Homebuyer Education classes. “I started getting a better perspective on my finances and talking about my goals, the most important one being to become a homeowner,” said Young, who was then connected to Habitat for Humanity in Detroit.

Young worked with Habitat to physically build her home along with volunteers and moved into a house in Detroit at the end of March.  “This home represents stability, safety, and a place where my children can grow without the fear of constant change,” said Young.

Gesher’s Financial Education Manager Latsha Cunningham said Young was an inspiration. “She took advantage of all the financial education resources we have to offer the metro Detroit community and, like so many of our participants in financial programming, she used them to transform her life,” said Cunningham. “Now she will not have to worry about rent increases, or a landlord evicting her, which will provide long term security to her and her family. That is our aim for all our Homebuyer Education class attendees.”

Gesher’s Homeownership Classes cost $50 per household (partners can attend together) but cost should not be a deterrent; this payment can be lowered or waived in cases of financial hardship. To register for a class go to geshermi.org/events or call 248.233.4299. Individual financial counseling is also available by emailing financialhelp@geshermi.org.

About Gesher Human Services

Gesher Human Services is a non-profit organization providing a bridge to hope and opportunity for people at work, at home and in the community. It is dedicated to helping people across metro Detroit lead more stable and fulfilling lives through workforce development, career mobility, behavioral health, inclusion programming and residential services that serve all metro Detroiters while meeting the needs of the Jewish community. The organization works with job seekers, people with disabilities, older adults, and the community at large to provide skills, support, and equitable opportunities for people to succeed. Uniting two of metro Detroit’s most influential Jewish human services agencies, JVS Human Services and Kadima, Gesher brings over 110 years of combined experience facilitating equitable employment opportunities and better mental health outcomes for residents. With a network of more than 400 employees and volunteers across 25 locations in southeast Michigan, Gesher delivers a continuum of services and support that directly impacts the lives of over 26,000 individuals and families annually. More information at www.geshermi.org.