What We Do
Our Services
Housing
Brick Capital began its journey in 1990 to revitalize the Brick Capital Redevelopment Area by building single-family homes to sell to working families earning less than 80% of median income in Lee County. With Brick Capital’s down payment assistance, these families or individuals can own their own home and, therefore, increase their equity with homeownership. Over the past 30 years, Brick Capital has built about 65 homes for members of Lee and surrounding counties.
Home Programs
Home Ownership and Home Development
About
Brick Capital offers a Home Buyers Program that is available to working families earning between 50% and 80% median income of Lee, Chatham, Harnett, and Moore counties. For those families with little debt and a good history of making rent and utility payments, the process can be quick. If a family has some late payments or unpaid bills, this program walks them through the process of minimizing their debts and building their credit history in order to qualify. In some cases, it takes a year or more for a family to purchase a home. With counseling from Brick Capital, the process is less daunting and easier for the home buyer.
The Process
First, the client, a family or an individual, gets enrolled in a homebuyers education class, which is a requirement for anyone receiving down payment assistance for their first home. We also encourage our clients to join our homeownership program for a $75 annual fee. Then, the client will go through pre-purchase counseling, including budgeting and credit counseling. The counselor will meet one-on-one with the client as many times as the client deems necessary in order to prepare to purchase a home. Additionally, the counselor will complete a credit analysis to help correct any credit issues. They will also assist with budgeting and money management to save for down payment as well as evaluate the client for down payment assistance programs. When the credit score is 640 or above, the counselor will help the client find a lender to obtain a pre-approval letter. Once this is complete, the client can either choose to build a home through Brick Capital or look for an existing home.
If the client chooses to build a house with Brick Capital, then they will go through a four to five month-long process. The client will sit down with one of our counselors, look at current plans, and see which options meet their needs. If the client does not like any of the current plans, then Brick Capital will engage a designer to come up with a plan that meets the client’s needs. Once the plan is figured out, Brick Capital engages a contractor to get quota on the house. The client will have to sign a purchase agreement after receiving a quota and working with the contractor. After this point, the building process will begin.
tDecide
01. Rental or housing program
Brick Capital offers different programs for different needs. The process for the rental program differs from that of the homeownership program, so, before proceeding to counseling, the clients should understand what their housing goals are.
Plan
02. Create a game plan
After meeting with our staff, the client should feel ready to proceed to either renting an apartment or beginning to look for or build a home. The client will continue to go through the process with Brick Capital until the desired housing is acquired.
Counsel
03. Meet with our staff
It is important to understand every aspect of homeownership and development or renting housing. The Brick Capital staff will work one-on-one with clients until they feel ready to proceed in the process of finding or building a home.
Enjoy
04. Move in!
This whole process can take anywhere from a few weeks to many months, depending on which program was chosen by the client. However, every client will eventually be able to move in and enjoy their new home, which Brick Capital hopes you will love.