KLAS-TV Channel 8 News Las VegasProgram Helps First-Time Home Buyers

Program Helps First-Time Home Buyers

Our valley's housing boom has priced some residents right out of the American dream, but one local program is still making first-time home ownership a reality for many hardworking families.

It was three years ago that one local realtor had the hope of making the American dream more affordable for others. Now, the H.O.P.E. program has helped more than one-hundred low-income working families buy their first, second and even third homes -- families who never thought they stood a chance at achieving the American dream.

Wanda Ratcliffe says until now, homeownership was always a dream out of reach

"I've tried lots of times to get a home loan but my credit wasn't good enough or I didn't earn enough money," said Ratcliffe. "Something always stopped me from getting a home."

Hard work was never the problem for this single mom. Wanda holds down two full-time jobs and attends college. But it wasn't until she found the hope program that Wanda was able to make her life-long dream of owning a home a to fruition

Las Vegas realtor Dawn Lane, who founded the H.O.P.E. program which stands for (housing opportunities, programs and education) says, "It starts with education."

With Hope's assistance, Wanda received a $35,000 government grant and closing costs on a new 3-bedroom, two-bath condo -- though she still can't believe it's true.

"I was really scared, because it's really happening," said Ratcliffe. "I'm afraid if someone even touches me I’m going to wake up from my dream."

So far, H.O.P.E. has helped more than one-hundred low-income working families just like Wanda become first-time homeowners with down payment assistance and credit counseling.

"A lot of investors came in and we lost sight of the people in our community," Lane explained. "Well, the investors are gone now, and our community deserves the same opportunities as those investors."

However, if you're not quite ready to buy yet, H.O.P.E. has just added a property management component to its program. They can help you find a home to rent, while you work for a year on your credit.

The H.O.P.E. program will host another home buying education seminar that's free to the public on Wednesday, March 22. For more information, call 592-9526.

Email reporter Alyson McCarthy at amccarthy@klastv.com