Committed to a brighter future for children, neighbors and communities.

We consider a healthy neighborhood to be one that is safe, clean, and diverse; one in which it makes economic sense for people to invest and one where neighbors manage change successfully.

We consider a healthy neighborhood to be one that is safe, clean, and diverse; one in which it makes economic sense for people to invest and one where neighbors manage change successfully.

Should I Buy A Home or Wait?

You want to buy a home, but there is economic uncertainty. Here are some key considerations to help determine the way forward. 

Have you saved enough for a down payment? 

Staying within your budget should help you to pay all your expenses. Start by saving. Each month put what you can into a savings account. Over time, you will have saved up enough to help with down payment and closing costs. Not sure how to save. Take our Financial Literacy and Homebuyer Education Class. 

Work on your Credit. 

It is important to know your credit worthiness and what creditors say about you. Reviewing your credit report, at least annually, will help prevent surprises as well as help you learn what you can do to improve your score. Although it will not have your FICO score, you can get a free credit report from each credit bureau by going to annualcreditreport.com. 

Two significant factors that impact your credit score are how you pay your bills and how much you owe. It is important to pay all of your bills on time as well as keeping your balances low on revolving lines of credit. Creditors also take into consideration how much you currently owe on each line of credit compared to the credit limit and/or original loan amount. This is what is known as credit utilization rate. Most credit experts advise keeping your credit utilization below 30 percent, especially if you want to maintain a good credit score. For example, if you have $10,000 in available credit, your outstanding balances should not exceed $3,000. 

How long are you planning to stay? 

Beyond the purchase price, buying a home comes with closing costs that can run thousands more. So, to justify those one-time transaction costs, it’s wise to be reasonably certain that you won’t move again anytime soon — or that you’ll be financially stable enough to hold on to the property and rent it out.

If you want to learn more, check out our classes and homebuyer coaching

Share This Story:
Grassroots Community Development
Grassroots Community Development1 day ago
Check out our newest blog post about the power of connection within our community!

Follow the link: https://grassrootswaco.org/blog/when-we-spend-time-together
Grassroots Community Development
Grassroots Community Development1 week ago
When this happens, it's usually because the owner only shared it with a small group of people, changed who can see it or it's been deleted.
Grassroots Community Development
Grassroots Community Development2 weeks ago
When this happens, it's usually because the owner only shared it with a small group of people, changed who can see it or it's been deleted.
Grassroots Community Development
Grassroots Community Development2 weeks ago
"If the topic of housing comes up, our immediate response may not be to think of a congregation, faith group, or even our own church community. Yet, faith groups – whether that be your own church or small work group – can be a strength in our communities in so many ways. From spiritual care and guidance to practical assistance and resources, our faith communities can be one of the solutions to address housing in Waco."

Follow the link to our latest blog post called "Faith and Housing in the Same Conversation".

https://grassrootswaco.org/blog/faith-and-housing-in-the-same-conversation/

#grassrootswaco #wacononprofits #celebratingcommunity #homeownershipgoals #homeownership
Grassroots Community Development
Grassroots Community Development2 weeks ago
Please join us on April 13th as we serve the North Waco Community. We invite you to register with the QR code and volunteer some time to support homeowners. This is a community-based minor repair and cleanup project that requires no expertise! For any questions about the event, please contact Sarai Muniz at sarai@grassrootswaco.org.
Grassroots Community Development
Grassroots Community Development3 weeks ago
Grassroots is looking to expand their team with another Community Organizer! The Grassroots Community Organizer is a dynamic, solution-oriented professional committed to engaging and developing neighborhood leadership. Using a consensus organizing model and assets based community organizing style the community organizer will be responsible for organizing and developing leaders in Waco in four major areas:

- Grassroots Leadership Training (GLT)
- Neighborhood-specific Organizing
- School Involvement
- Family Engagement

For more information, see the full job description at: https://grassrootswaco.org/wp-content/uploads/Grassroots-Community-Organizer-position-2024.pdf

The deadline for resumes and questions is Feb 16th. Please send resumes to Mike Stone at mike@grassrootswaco.org.