June is National Homeownership Month, and with many families reporting homeownership is further away than ever before, Ascend Dallas’ Bright Beginnings Fund might be able to help.
The fund helps North Texas mothers who qualify turn savings into a path to owning their own home with the help of financial empowerment and education.
Amanda Gameros is one of those mothers.
“My mom was a single mother, and we never owned a home,” Gameros said. “We always lived in apartments, but never owned anything of our own. I just knew when I got pregnant, I wanted to work towards getting my child a home to live in.”
For Ascend Dallas, it’s not just about getting families into their first home, but also helping families go from living paycheck to paycheck to building a stable future for their children. The Bright Beginnings Fund helps low-income mothers build savings through a combined match savings program and coaching to sustain it.
“I knew that I wouldn’t be able to afford a home where I was. That’s where Ascend Dallas came in to help. They closed the gap. They helped me save and learn more about saving,” Gameros said.
Participants save their own money toward an approved goal. The hope is that these young mothers can work towards a 4:1 savings match that can go towards purchasing a home or starting a small business. That match can be up to 8:1 for education, workforce training, or career skills development.
Current participants or recent graduates of Ascend Dallas’ Nurse-Family Partnership program are eligible to enroll. The NFP is an evidence-based program that provides nurse-led support and maternal care for first-time mothers. Nearly 75-percent of those in the program earn less than $31,000 a year.