This House is My Diploma!

Carol Steamer has much to be proud of. A public housing resident for almost six years, Steamer was encouraged to pursue one of her dreams--a brand new home.

After graduating from the Family Self-Sufficiency Program in 2005, she was able to use her escrow money to pay the $2,500 down payment needed to participate in the Housing Authority of the City of Austin's Home Ownership Program.

"Every time I tried to purchase a house, the down payment was an issue and I wasn't able to save up and fix my credit," she said. "Now all three of my children have their own room and the yard we always said we wanted."

Since the Home Ownership Program's inception in 2004, there have been eight closings with four contracts pending and 13 other members in the program.

To qualify, residents must be a first-time homebuyer or cannot have owned a home in the last three years. A minimum of $2,500 must also be contributed toward the down payment, closing cost or reserves. Residents must then qualify for a first lien mortgage and have received first mortgage financing from a private financial institution. Finally, a training course, approved by HACA, must be successfully completed.

Just seven months away from graduating from Mount Olive Bible Institute with a degree in Biblical studies, Carol Steamer is proud of her new home in Manor, Texas. She plans to use the remaining amount of her escrow money to pay off bills and apply toward upcoming mortgage payments.

"Graduating from the FSS Program truly enabled me to achieve this dream of mine of owning my own home," she said. "This house is my diploma. We did it!"