With teenaged sons, Sean and Patrick, and young daughter, Nicole, Terry Kellar knew her family outgrew the cramped two-bedroom apartment where they lived for ten years. Terry - a single mother working in retail sales at the local Dollar General store - had few affordable housing options. So, she was overjoyed when Neighborhood Development Services, Inc. offered her the opportunity to move into a brand new lease-purchase house. Terry, who herself grew up in an apartment, shares "I honestly never thought that I would be where I am now, living in a house! I thought I would be in an apartment my whole life. I feel like this house is mine already, even though we're still renting it."
One year after moving in, Terry can already see their lives changing for the better. Having a home closer to her employer allows Terry more time with her family. She notes too "Now the kids get along better. They're not cramped together and there's room for everything!" Embracing their new community, the family attends neighborhood baseball games, participates in community meetings and relaxes on the porch in the evenings. Clearly, moving into the house has improved this family's quality of life a great deal.
NeighborWorks Capital Corporation (NWCC, then Neighborhood Capital Corporation, helped the non-profit developer of this house by financing the Portage Housing project. NWCC provided pre-development financing, resulting in the construction of 25 lease-purchase homes in Northeast Ohio for families in need. The program provides for part of Terry's rent payments to accumulate toward down payment and closing costs. After fifteen years of renting the home, it will revert to family ownership via assumption of the remaining, but minimal, debt.
Through this program, Terry will increase assets, build economic stability for herself and her children, and come to own the house that they already love.