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Building Community Blog

Cassandra loves her block in the Phillips neighborhood of Minneapolis. She bought her home in 2002, and liked that it was close to everything—to her studies at the University of Minnesota, and to her job at Ameriprise in downtown Minneapolis. She has a long-term tenant upstairs, which makes it more affordable.

“I love my neighbors, and I’m very lucky to live in my neighborhood,” Cassandra says.

There’s no feeling quite like owning your own home. What a wonderful accomplishment to achieve. And you can paint, decorate, and landscape it just the way you like. No one else will have a house like yours.

But purchasing a home is a big investment, and therefore requires some financial preparation.

Habitat for Humanity partners with low-to-moderate income homebuyers to purchase homes in the Twin Cities. Through this Homeownership program, buyers receive:

  • Education on the responsibilities of owning a home
  • Financial coaching towards mortgage readiness
  • Home buying options with Habitat

Think we might be a good fit? Take a look at our program qualifications and read answers to our most frequently asked questions below.

Even if you haven't paid them, chances are you've heard of "closing costs" associated with buying a home. But what are mortgage closing costs? What do they mean? And why do you have to pay for them?

In short, when you “close” on the purchase of a property, ownership of that property is legally transferred to you, the buyer. More often than not, paying to purchase the property requires borrowing money from a bank in the form of a mortgage. Mortgage closing costs are those expenses that are required in order for the bank to originate the mortgage. These costs can vary, but they often equal between two percent and five percent of the purchase price. This means, if you're buying a home for $100,000, your mortgage closing costs could range between $2,000 and $5,000.

Prior to your closing, you will receive a closing disclosure statement with specific fees listed. Here are some of the fees you will likely see and what they mean:

Wealth is not measured by how much cash you make, but it is measured by how much cash you are able to keep.

That quote is included at the bottom of every email sent by William S. Bolton III. As a Financial Empowerment Coach at Twin Cities Habitat for Humanity, William works with people on strategies to build their wealth in order to achieve homeownership.

Buying a house is a very exciting experience and you’re probably eager to get the process started. You may even already have a jumpstart on what you’re looking for in a home, but have you asked yourself: "Where should I live?" This is something important to consider when buying your first home. If you’re not quite sure what to look for in a neighborhood, here are some things to consider in scouting your ideal spot.

Among the many reasons why people give to organizations like Twin Cities Habitat for Humanity, there is a bonus by means of a tax deduction. By far the main reason why people give is to make the world a better place. At Twin Cities Habitat, our mission to eliminate poverty housing is close to many hearts. Creating a solid foundation through homeownership has a multi-generational impact for families in the Twin Cities. But don’t forget, your generous gift can give back when tax time comes around.

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