With the share of first-time homebuyers at a historic low, a free workshop in Tampa this weekend is seeking to give aspiring homeowners the tools they need to succeed.
The Freddie Mac CreditSmart® Essentials Workshop takes place Saturday, May 9, at CareerSource Tampa Bay, 9215 N. Florida Ave., from 10 a.m. to noon. The event is geared toward low- to moderate-income families looking to purchase their first home.
The National Association of Realtors reports that the share of first-time homebuyers has fallen to a record low of 21%. Housing professionals say confusion about the buying process and broader market conditions are both contributing factors.
“We are right now in a market where inventory is low, the terms of interest rates are higher than they were a couple years ago,” said Sasha Baez, a Senior Loan Officer with Guild Mortgage. “What’s happening is it’s making families feel like they have to freeze.”
Baez, who is co-hosting the event alongside the Housing & Educational Alliance, says she also sees language barriers holding back many Hispanic families she works with, leaving some clients signing documents they don’t fully understand.
Abigail Canete, a first-generation homeowner who recently completed the process, said hands-on guidance made the difference for her. “She kind of took us step by step,” Canete said of her lender, “and I think that’s the most important part when you’re a first-time homebuyer.”
Workshop attendees will learn how credit works, how to read and improve credit reports, and financial habits for long-term success, and will have the chance to ask questions during a live Q&A session. Registration is available through Eventbrite. The event is free.
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