Dolorez Fuentez purchased a home in Longmont, Colo. with the help of the Personal Investment Enterprises (PIE) program. Dolorez purchased her new home for herself and her three children Toni, 2, Mathew, 10, and Sonia, 15. She and her children spent the last year living with her sister while her dogs and her belongings stayed at her mother’s house.
PIE’s mission is to provide tools and incentives that empower low-income individuals and families to save and build assets to strengthen their economic stability.
Dolores first heard about the PIE program over a year ago when a co-worker recommended some financial classes offered through the Boulder County Community Action program.
“During the first class I attended, the instructor told us about the Personal Investment Enterprise program and I knew right then that I wanted to apply,” said Dolorez as she recalled the process of buying her new home. “I could see this as a plan that would allow me to buy a home for my children as quickly as possible.”
Foothills United Way is the fiscal agent for the PIE program and partners with Boulder County Community Action Program as the program coordinator. Both partners work together to educate, qualify and assist participants throughout the savings process.
Dolorez had the option to save up to $1,000 and had up to 30 months to qualify for a savings match maximium of $4,000 toward the purchase of her new home. In addition, she attended a series of four financial literacy classes as part of the overall requirements.
“I got on the waitlist for the program while I completed my financial education classes and it really didn’t take as long as I expected,” Dolorez shared. “I highly advise others interested in the program not to be discouraged by the application process. I had to take care of some issues with my credit before I was accepted into the program, but it really wasn’t a big deal at all!”
Once Dolorez’s credit was approved she was accepted into the program and began saving for her house. “My goal was to save $1,000 in six months,” said Dolorez, “but it took a little bit longer than I planned.”
“With the help of this program, anyone can successfully learn to save and buy a house,” said Dolorez. “Single moms, like me, included.”
The entire family is ecstatic to have their dogs, Chulo and Busy Bone, living with them again. Sonia, like most teenagers, is very excited to have her own bedroom and summer hangout spot for friends.
Dolorez plans to continue to save and budget accordingly in order to pay off her principal. “Maybe one day in the future I will even be able to save up for a family vacation!”
PIE is the only program of this kind in Boulder and Broomfield counties and one of only three in Colorado. To learn more about the PIE program or other Foothills United Way programs, please visit UnitedWayFoothills.org/PIE