Final - Discussion Guide

Discussion Guide
Equitable Engagement at HUD

Credit & Homeownership
Discussion Guide
Discussion Outline
Introductory Script ....................................................................................................................................... 2
1.0 General background .............................................................................................................................. 2
1.1 Introduction: building rapport ............................................................................................................... 2
1.2 Family homeownership history ............................................................................................................ 2
2.0 Personal financial context .................................................................................................................... 2
2.1 Early financial experiences.................................................................................................................. 2
2.2 First bank experience .......................................................................................................................... 2
3.0 Current living and financial situation .................................................................................................. 3
3.1 Current living and financial situation ................................................................................................... 3
3.2 Current debt or experience of debt ..................................................................................................... 3
4.0 Perceptions & knowledge surrounding homebuying ........................................................................ 3
4.1 Family or friends’ home buying experience......................................................................................... 3
4.2 Homeownership aspirations (thoughts, feelings, motivations for/against homeownership) ............... 3
4.3 Knowledge of the home buying process ............................................................................................. 3
5.0 Experience with lending professionals (lenders, bankers & brokers) ............................................. 3
5.1 Knowledge of mortgage lending .......................................................................................................... 3
5.2 Experience applying for a loan ............................................................................................................ 4
6.0 Personal experiences, perceptions and knowledge of building credit and credit scores ............ 4
6.1 Knowledge and experiences with credit .............................................................................................. 4
6.2 Resolving credit score errors............................................................................................................... 4

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Discussion Guide
Equitable Engagement at HUD

Discussion Guide
Introductory Script
Thank you for taking the time to speak with us today.
The goal of these conversations is to gain an understanding of the different perspectives and
experiences people have around homeownership and gain insight into how HUD can better
serve the public.
Throughout this conversation, we urge you to share your honest, candid feedback. We are
trying to understand your experiences and thoughts.
[Remind them of the consent form]

1.0 General background
1.1 Introduction: building rapport
•

Tell me a little about yourself.

1.2 Family homeownership history
•

Do you remember if the home (or homes) you lived in growing up were owned or
rented?

2.0 Personal financial context
2.1 Early financial experiences
•

When you were a child, what do you recall about any conversations that people
around you had about money? (Probes: feelings associated with money)

•

How did you learn about money or managing money? (Probe: managing money and
expenses today)

•

Tell me about when and how you started earning money.

2.2 First bank experience
•

Tell me about your earliest memory with a bank account, debit card, or credit card.

•

What was the process of opening your first bank account like? (Probe: use of bank
account today; experience getting pay day loans or paying to cash a check)

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Discussion Guide
Equitable Engagement at HUD

3.0 Current living and financial situation
3.1 Current living and financial situation
•

Can you tell me more about where you live? (Probe: city vs urban? Cost of living?)

3.2 Current debt or experience of debt
•

How would you describe your current financial situation? Are you able to save or are
there things that impact your ability to save, such as loans or other reoccurring
payments?

•

Can you talk to me about any serious financial challenges you have experienced?

4.0 Perceptions & knowledge surrounding homebuying
4.1 Family or friends’ home buying experience
•

Can you share with me what you have learned by watching others close to you go
through the homebuying process before?

4.2 Homeownership aspirations (thoughts, feelings, motivations for/against
homeownership)
•

Have you ever wanted to own a home? Why or why not?

•

Do you see yourself owning a home one day? Why or why not?

4.3 Knowledge of the home buying process
•

What is your sense of what the home buying process looks like?

•

What questions do you have about the process? (Probe: where would you go for
answers?)

•

Based on what you currently know, what kinds of upfront costs are there when
buying a home?

•

Can you tell me about any class, webinar, or activity you participated in to learn more
about buying a house or how to budget your money?

5.0 Experience with lending professionals (lenders, bankers
& brokers)
5.1 Knowledge of mortgage lending
•

What do you know about home mortgage loans including what you heard from
others? (Probe: FHA loans, prime versus subprime loans)

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Discussion Guide
Equitable Engagement at HUD

5.2 Experience applying for a loan
•

If you have ever tried to take out a loan, can you tell me about what that experience
was like? (Probe: Who did you go to for a loan, did you understand the
process/terms, did you feel respected)

•

Thinking about the different interactions you have had with lending professionals
over time, what advice would you give to others planning to work with lending
professionals?

•

Have you heard about any unfair practices that exist in the lending industry?

6.0 Personal experiences, perceptions and knowledge of
building credit and credit scores
6.1 Knowledge and experiences with credit
•

How would you explain “credit”?

•

Can you tell me about times in the past when you have checked your credit score?
(Probe: why did you check it, did you understand it, did you have to pay?)

•

Can you share any experiences, lessons, or challenges you’ve encountered building
credit? (Probe: Do you have any experience with different types of credit scores i.e. –
FICO vs Vantage?)

6.2 Resolving credit score errors
•

If you have you ever found an error with your credit score, can you tell me about that
experience? (Probe: finding the error, disputing the error)

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