Our HOME Program provides education to first time home-buyers so that they can successfully navigate the process of home purchase and become successful, long term homeowners.

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Program Features:

• HUD Approved
• Classes are offered in both English and Spanish
• Since the program began in 1991, it has maintained a participant mortgage default rate of less than 1.5%
• Includes many aspects effective Home Owner Education as outlined in "What Works in Programs Offering Counseling and Training to Low-Income Homebuyers," a report by the Enterprise Foundation.
• In 2005, served 236 individuals

Our HOME Program covers:

• Finances and Credit
• The Role of the Realtor
• The Role of Banks and Mortgage Brokers
• The Role of the Lawyer
• Rights and Responsibilities of Being a Landlord
• Protecting Your Investment: Home and Property Maintenance & Responsibilities
• Dealing with Environmental Hazards; State & Local Resources for Lead and Asbestos Abatement

HART's Home Ownership Made Easy (HOME) Program seeks to attain the following benefits for the city of Hartford:

Children
Research has shown that home ownership is a vital component in the success of families and children. Studies have shown that, even when the variables of income, race and the age of parents are equal, the children of home owners have better outcomes than the children of renters.
For example, as compared to renters of the same income, race and parental age, children of home owners are:

• 25% more likely to graduate from high school
• 116% more likely to graduate from college
• 20% less likely to become teenage mothers
• save tax payers an estimated $34,000 (i.e. the cost of juvenile delinquency, etc.)

Building Family Wealth
Home ownership also produces wealth, particularly for low income families. For example, home owners (again, of the same income, race and age) are:

• 12 times more wealthy than renters, with 66% of their wealth rooted in their homes.
• On average, home owners accumulate an average of $44,000 in home equity during the first 10 years of home ownership.

Neighborhood Stability
High home ownership rates have long been associated with neighborhood stability.
Research has found that:

• For every 1% increase in a neighborhood's home ownership rate, home values increase approximately $800
• Every home that is sold produces approximately $886 in revenue and taxes for government agencies
• Compared to renters (or their landlords), home owners are 28% more likely to maintain upkeep of the property
• Home owners are 10% more likely than renters to report that they have worked to solve local problems

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For more information, please call Rica Charparro at 525-3449 or at rica.chaparro@hartfordareasrallytogether.org
 

Our address:
423 Washington St.
Hartford, CT 06106