MEMPHIS, Tenn. — Frayser’s Pursuit of God Transformation Church is working to break the cycle of poverty, operating a program where they educate and facilitate the purchasing of homes, especially for people who never thought that would be possible.
Just about 35 percent of African Americans in Memphis are homeowners, according to the Women’s Council of the National Association of Real Estate Brokers.
Sharon Fields said she went through the homeownership program at Pursuit of God Church, and she has now had her own house for almost two years.
“It's freedom,” she said. “My grandchildren love it. (They say), ‘We’re at Grandmama's House!’ They're able to play on the porch, and there’s all this yard on the side.”
Pursuit of God Pastor Ricky Floyd sees buying a house as one of the best ways to break the cycle of poverty and leave something to pass on to the next generation.
He said it’s not just about learning how to buy a home, but how to keep that home.
“We want people to begin to form a habit of paying on time, being responsible,” he said.
Pastor Floyd said they help house between 150 and 180 people in the Frayser area through a combination of apartment units, duplexes and houses.
He said the church purchases homes with the goal of selling them to people who complete the program. While they’ve had success, the pastor said they’ve also learned they can’t skip the education process.
“How important it is to have a savings account, how important it is to (boost) your credit score so that you can get better interest rates, which could reduce the cost of your home and build your equity quicker,” Pastor Floyd said.
Dr. Stephanie Myers-Lewis, head of the Memphis chapter of Women’s Council of the National Association of Real Estate Brokers, said the narrative about buying versus renting needs to change.
“Comparatively, when you purchase a home versus renting a home, your note is probably going to be lower, and you’re gaining equity in your property,” she said.
This is why Pastor Floyd said they hope to purchase more houses in the near future.
“It's a beautiful thing,” Fields said. “And then you help take care of it because it's our house.”
Pursuit of God Church is holding one of their housing education sessions Saturday from 1 p.m. to 3 p.m. They also offer a separate eight-week course on how to qualify for buying a house.