For many first-time homebuyers, understanding the process and learning where to negotiate, how to save money, and what questions to ask can be the difference in enjoying a sustainable homeownership journey. In 2023, 62% of homebuyers who complete the Framework® Homebuyer Education Course wish they had taken the course when they were just thinking about buying a home, as reported in the Framework Homebuyer Confidence Report. That’s up more than 5 percent points from 2022. In addition, 65% of homebuyers who completed the Framework Homebuyer Education Course feel that taking the course helped them learn where to save money during the homebuying process.
Framework, we are committed to empowering a community of partners and homebuyers with a comprehensive homeownership education platform to enable smart decision-making for first-time and first-generation homebuyers. That’s why we’re excited to announce our partnership with Sterling Bank.
Sterling Bank specializes in lending for the affordable housing industry and recognizes how the Framework platform enables them to scale and deliver comprehensive homeownership education and resources across their locations in major cities like the suburbs of Chicago, St. Louis, and Kansas City.
The Framework Homebuyer Education Course “will fill a gap a lot of people have in understanding the homebuying process,” noted Kurt Miller, SVP and Risk Management CRA Officer. The Framework Homebuyer Education Course will be integrated into mortgage lending programs like Sterling Bank’s first-time homebuyer grant program, which will require a borrower to complete the course before securing a loan.
The Framework platform will help the borrowers fulfill grant requirements in a flexible and accessible way, fueling Sterling Bank’s drive for their clients to be empowered with the knowledge and confidence to make the best decisions throughout their homebuying journey.
As part of the Framework platform, Sterling Bank’s homebuyers will have support beyond the homebuyer education course with access to:
- Shop for post-purchase homeownership education courses,
- Explore resources and tools to better manage and plan for homeownership, and
- Tools to organize to-dos, and shop and compare homebuying services and products in HomeServices marketplace .
“Collaborating with a community bank like Sterling Bank allows us to continue to reach first-time and first-generation homebuyers that need our support the most”, says Omar Esposito, CEO of Framework. He continues, “We love that by integrating the Framework Homebuyer Education course with Sterling Bank’s mortgage lending programs, we’re not only filling an education gap but also supporting the long-term financial well-being of these families. We’re thrilled to be working with Sterling Bank to create more confident and informed homeowners”
Whether it’s navigating mortgage products, managing budgets, or building stronger credit, this partnership will be a great foundation for those looking to make their homebuying dreams a reality. We’re excited for the opportunity to see the Framework platform help strengthen and foster sustainable communities that Sterling Bank serves for years to come.
About Framework
Framework is a social enterprise with a mission to actively reduce the homeownership gap through building tech-enabled homebuyer education and ongoing homeownership support courses, tools, and resources. Our online homeownership platform has helped over 1.5 million first-time homebuyers and homeowners across the country start and grow in their homeownership journey and built a network of over 150 partners. Join us at www.frameworkhomeownership.org.
About Sterling Bank
Sterling Bank is a full-service, community-centered bank committed to enriching the lives of customers and communities across Missouri, Illinois, and Arkansas. The team at Sterling Bank actively engages in the local community and is passionate about fostering neighborhood development, progress, and growth around Missouri, Illinois, and Arkansas. The team at Sterling Bank actively engages in the local community and is passionate about fostering neighborhood development, progress, and growth to make their communities stronger.
What can you achieve with Framework?
Be there for your clients' biggest moments and make homeownership sustainable for all.