Impact and Programs
Accomplishments
296 families partnered with Twin Cities Habitat’s homeownership program. 104 families bought homes with Twin Cities Habitat. 173 households were introduced to the homeownership process. 71 households graduated from financial coaching into mortgage readiness. 28 Habitat homeowners paid off their mortgages, bringing the total to 356 since 1985. 247 individuals completed Habitat Homebuyer Education. 24 A Brush with Kindness home repair projects completed to preserve homeownership. 102 non-Habitat homeowners received counseling to prevent foreclosure. 61 international families bought homes thanks to our Global Impact Fund and Global Village volunteers. $276,640 contributed to partner affiliates through Habitat’s global mission. In total, 511 households partnered with Twin Cities Habitat this fiscal year.
Current Goals
Our current goal is to close on 149 homes by the end of 2024. These closings will include 40 Habitat-developed homes, 13 Next Gen (buybacks) and rehabs, 21 Habitat-acquired homes, and 75 open-market homes. We expect to enroll a total of 400-500 applicants in our Homeownership Development program during 2024, of which 200-300 will participate in financial coaching while approximately 150 will become mortgage ready and enter the home search process. At least a quarter of these new homebuyers will be U.S-born Black households thanks to the unique supports our Advancing Black Homeownership program provides. We also offer post-purchase support after a family closes on their home. Habitat homeowners receive maintenance advice, access to homeownership resources, assistance with home warranties, as well as mortgage servicing from our subsidiary, TCHFH Lending, Inc. As a result, less than 1% of the 1,200 mortgages we service are expected to undergo foreclosure. Additionally, counselors in our Mortgage Foreclosure Prevention Program will work directly with more than 100 homeowners to provide forbearance or loan modification plans as necessary. And our home preservation and stabilization program, A Brush with Kindness, will help as many as 30 homeowners earning 80% or less AMI maintain their properties and avoid costly fines by fixing broken windows, doors, roofs, exterior painting, and more.
Community or Constituency Served
We partner with families throughout the Twin Cities whose incomes fall between 30% - 80% of the area median income (AMI). The average income of many of these families is slightly less than $60,000 per year (around 50% AMI) for a family of four, our average household size. Historically, our clientele has closely mirrored immigration patterns to the Twin Cities: Hmong and Hispanic families in the 1980s and 1990s; East and West African families over the last 20 years. In fact, more than 80% of our clients are from households of color. During our 2023 fiscal year, 71% of our clients identified as African American/Black clients¬ -- 39% as U.S.-born Black Americans and 32% as East and West African immigrants. Of the remaining clients, 15% identify as White, 9% as Asian, 0.6% as American Indian or Alaska Native, 0.4% as Hispanic, and 4% as Multiple Race or Other.
Geographic Area Served
The seven-county Minneapolis-St. Paul metropolitan area, comprised of the following counties: Anoka, Carver, Chisago, Dakota, Hennepin, Ramsey, Scott, and Washington.
