When we asked Acts alumni, Anthony Stewart, what homeownership meant to him, he responded with one word: Legacy.
Generational Wealth Is Built Through Homeownership
Homeownership remains the biggest way individuals can build generational wealth. And in the United States whether your parents are homeowners influences whether you’ll be a homeowner. “A child’s likelihood of being a homeowner increases 8.4 percentage points if their parents are homeowners” (Urban Institute).
Anthony Stewart understood that homeownership is an important tool to building wealth. In 2020, Anthony started his home buying journey with Acts. After hearing about Acts Housing from his lender at Wintrust Mortgage, Anthony began working with Homebuyer Coach Jordan Villegas. He worked with Jordan to create a plan of action; pay off some medical debt, student loans, and credit card debt, all while starting a savings fund.
When asked how he stayed motivated Anthony said,
“I want to be able to have something to pass down to the next generation, to my kids or nieces and nephews-that’s something that keeps me going”.
Anthony closed on his first home on January 24th, 2023 . After working with Acts, he received several grants that brought his closing costs down. The process wasn’t an easy one. Anthony, like many of the families Acts serves, was locked out of the homeownership market due to low income, poor credit, and lack of savings. But he was determined to become a homeowner, and with Acts support he was able to achieve his dream of building a legacy. He explained, “This is freedom. This is a stepping stone for something in the future”.
Want to start the homebuying process? Start Here.
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