Far South CDC Increases Post-Purchase Support

60% of Far South CDC’s clients are first-time homebuyers who are learning to buy and maintain a home for the first time.  Knowing that financially preparing to become a homeowner goes beyond the closing table, the Far South CDC team wanted a way to provide post-purchase support that keeps their counselors and clients connected from day one.

The housing counseling team provided post-purchase services, however, it was disjointed and required the staff to follow-up and bring homebuyers back to receive services after buying a home. For many of their homebuyers, it was difficult to continue conversations with them once they were in the home.

Cornelius Sams Sr., Director of Housing Services, says, “Homeowners go into homeownership not fully understanding the financial commitment of what it means to maintain and own a home. We needed to connect pre-and post-purchase support, so our clients are supported into their first year of homeownership before an issue arises, and our first-time homebuyers have money left over for those inevitable repairs.”

Additionally, as funding challenges from HUD presented issues, Far South CDC was looking for additional ways to continue to fund the services needed for first-time homeowners, while continuing to add value to their experience.

When Cornelius Sams Sr. learned Framework Homeownership launched a new product, Framework 365, that connects homebuyer education with post-purchase courses into one learning path, he immediately adopted the offering.

“Framework 365 is the best thing Framework could have done. It’s a natural, normal transition from pre- to post- purchase and aligns to our goal to keep clients supported through that transition,” shared Cornelius.

Cornelius Sams Sr. shared why he chose to make Framework 365 available to his clients:

• Clients have one continuous learning path that sets them up to keep learning after they get the keys to their new home.
• The staff saves time having to resell clients on the value of preparing for the first year of homeownership.
• Homebuyers learn how to buy a home and what they need to do to maintain and manage a home before trouble arises from things like unexpected repairs.
• Far South CDC earns more revenue while providing additional support to its clients, so it can continue serving its community.

100% Clients Prepared

Far South CDC now uses the Framework platform to place clients on a continuous learning path with Framework 365, so clients are supported with pre- and post-purchase courses that set homebuyers up for success into year one of homeownership.

23% Increase in Revenue

When Far South rolled out the new offering, nearly 10% of their clients opted for the new solution. Far South CDC is able to work with clients from preparing their credit file to learning to manage regular home maintenance.

Far South CDC also increased revenue by 23% with clients who opted into Framework 365, which allows them to continue to provide the support their community needs to become successful homeowners.

Improved Operational Efficiency

Far South CDC’s staff saves time managing and scheduling servcies with notifications and progress monitoring.