Home Stretch Classes at ADC
Owning a home is the dream of a countless number of Americans. It is a big financial decision and an emotional one too, that requires a close examination of important questions: Do I have enough money to invest in a house at the moment? How do I find the ideal home? How do I finance it? What will the bank ask of me when I request a loan? These questions are daunting and can faze even the most financially savvy person, but when doing it in a different country with different systems and operating processes it can be even more intimidating.
In an attempt to ease the process, the African Development Center conducts Home Stretch classes, an information workshop for first-time home buyers across the state. HomeStretch is a offered through the Home Ownership Center of Minnesota, with the curriculum certified by the U.S. Department of Housing and Urban Development. This course is a practical guide to improve the financial literacy and understanding of participants, and familiarize first-time home buyers with the process of owning a home. According to the Home Ownership Center of Minnesota, this course “takes the mystery out of home buying”!
Directed by Stephen Wreh-Wilson and Nimo Farah the workshops cover every aspect of home financing in an interactive manner. They walk participants through everything from building a credit score to processing a loan. The workshops also highlight the importance of closing a loan account and doing the final leg work to ensure that the records are updated with the various agencies after you repay your loan. Each participant receives a useful manual that helps them refer to these terms and processes in the future. It even includes a glossary of commonly used household tools, with pictures and descriptions of why each tool is used! To assist in the time after the purchase of a home, the workshop also touches upon the basics of money management and family budgeting.
Meet the Instructors
Stephen Wreh-Wilson: Housing & Financial Education Director
Stephen is a licensed real estate agent and a community organizer. His multi-cultural background and experience enables him to relate to the community culturally and communicate key topics to the participants. His ability to engage students and use humor to make them feel at ease has made him very popular among the participants. He uses practical examples to clarify technical concepts and encourages questions.
Nimo Farah: Housing & Financial Education Deputy Director
Nimo is a great community organizer and has deep roots in the African community in Minnesota. She started at ADC in 2006 as a summer intern. Her efficiency and expertise made her indispensable to ADC and she was hired to work with the African community in Greater Minnesota. Nimo holds more than 6 different certifications in the field of financial counseling and home buyer & financial education.
Additional Industry Experts:
ADC makes it a point to bring in knowledgeable guests to deliver many of the lectures in this workshop. This gives the participants an opportunity to interact and ask question to industry experts – gaining deeper insight into the process as well as creating important connections and ease that may not have existed otherwise. Some of our guests last year were Al Smith from the US Bank Home Mortgage department; Emily Green, a realtor and broker of the Sandy Green Realty, and Henry Rucker from Banneker Realty.
How to Attend
ADC’s HomeStretch Workshop in Minneapolis is offered on the first Saturday of every month. The workshop is also offered in Rochester, St. Cloud, Marshall, Owatonna, Faribault, Willmar, and Mankato. ADC’s classes are open to all first time home buyers, so please check here for date, time, venue, and signup form for the next class. If you have never owned a home and are tired of renting, you will not find a better primer than ADC’s HomeStretch Workshop.