As featured in:
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Of the NFCC’s 570,242 financial clients every year, only 41% are homeowners while 46% are renters. Almost half of the homeowners are interested in their next purchase and almost two-thirds of renters would like to purchase a home in one to three years.
The study revealed that current homeowners, aspirational renters, and others without a plan for homeownership would be interested in counseling to help them achieve their next home purchase.
The NFCC estimates that 60,000 existing clients per year can achieve homeownership by accessing additional pre-purchase counseling services.
The major purpose of this study was to determine how many of the 570,242 estimated NFCC clients who had successfully completed financial counseling aspire to homeownership and, if so, would they welcome the help of a pre-purchase coach.
NFCC also sought to understand to what degree do different categories of financial counseling clients aspire to homeownership; the numbers of black/African American, Hispanic or rural clients in underserved categories of potential homeowners or homeowners; and the strengths, capacities, barriers and challenges facing different financial counseling categories interested in homeownership. From this data, NFCC hoped to obtain findings that could improve delivery of services related to homeownership to underserved populations.
