As the San Francisco Bay Area’s Relationship Manager for Landed, I recently sat down with Vincent Lopez to discuss his individual experience as a Bay Area educator working with our team to purchase a home. Why discuss this now? The Lopez family is one of the almost 500 we’ve supported to date across the US, a big milestone in our effort to help essential professionals, starting with educators, build financial security in the communities they serve. Most of the nearly 500 families we’ve supported have been right here in the Bay Area, where Landed got its start.
To reflect more on the communities we’ve had the pleasure and fortune of supporting so far, our team conducted an analysis and recently shared an impact report highlighting key outcomes of our work. Among other things, the data shows Landed has helped Bay Area educators purchase over $168M worth of homes, amassing $11M of wealth through homeownership. Pretty exciting beginnings! To accompany the numbers, below are some insights gleaned from my sit-down with Vincent.
The First Steps
First-time homebuyer Vincent Lopez teaches third grade at Menlo Park Elementary. Before hearing about Landed, Vince and his wife, also an educator, considered leaving the area to accommodate their growing family. He explains “What Landed provided was exactly what we needed: the down payment help.”
Finding a home that was close to work to avoid a long commute was essential to the Lopez family. After attending an information session with the Landed team, Vincent and his wife weighed the pros and cons of equity sharing with Landed vs. not being able to get into a home. They decided to go with Landed. Like many homebuyers, they wanted to get into the housing market before “the market exceeded their ability to save.”
Advice for Educators
Vincent advises educators who are considering Landed to “Start today. Figure out your budget and finances and don’t put it off. Start immediately.” Landed supports homebuyers wherever they are in the process. Whether they are seeking to buy in one month or one year, Landed supports the homebuying process from initial research, to closing, and beyond.