HomeKeeper developed our Financial Checkpoints feature in 2022 to enable our users to track key indicators of financial health and mortgage readiness at important milestones, and measure changes in those metrics over time. The Financial Checkpoints tab is located on the Service File. If you are not seeing this feature, you may need to upgrade to the latest version of HomeKeeper or add it to a custom Lightning Record Page. Financial Checkpoints were added in HomeKeeper Version 2.10. See the Release Note for details on configuring this feature. Contact HomeKeeper Support to troubleshoot.

Step One: Take Your Baseline Financial Checkpoint

Enter Initial Financial Metrics— To establish a baseline against which to measure change, be sure to enter the first known values for all financial metrics tracked by your agency.

1. From the Applicant Info tab or Related Lists on the Service File, add: 
   1. Household Members
   2. Income
   3. Assets
   4. Debts 

2. Add Credit Scores to the Service File “Details” tab

3. Add the AMI record to the Service File that corresponds with the Income Year. This will calculate Percent of AMI. 
4. Finally, take your Financial Checkpoint using either the “Create Financial Checkpoint” button or from the Financial Checkpoints tab. 
   1. Enter a Checkpoint Type, and add the date that corresponds to that milestone under Checkpoint Date. 
   2. Click Finish

Step Two: Update Financial Metrics 

1. Enter Updated Financial Metrics for your next major checkpoint. To do this, navigate back to the Applicant Info tab to: 
   • Update the existing Income, Asset, and Debt Records
   • Add or remove Household Members as needed
   • Update Credit Scores
   • Update the AMI record 
2. Take your next Financial Checkpoint. Again, using the “Create Financial Checkpoint” button or Financial Checkpoint Tab, add a new Financial Checkpoint with an updated “Type” and “Date.” Out-of-the-box, the checkpoint types are At Application, At Purchase, Interim, At Resale, and Other. 

3. Repeat for each checkpoint, “snapshot,” or financial review. 

Step Three: Review Progress in from the Service File and Impact Reports

Financial Checkpoints were built with Impact Measurement in mind. We have a few features and out-of-the-box reports to help you get started! 

Use the Change Metrics on the Service File for Quick Reference

First, from each Service File, you can see the overall change in key metrics between the first Financial Checkpoint (or the “Baseline”) and the latest Financial Checkpoint (or the “Current”). 

Baseline and Current checkpoints are populated automatically based on the earliest and latest dates 

Take Advantage of HomeKeeper Template Reports

You can view all existing template reports in the HomeKeeper Financial Checkpoint Reports folder. 

This example shows Service Files with Summary Metrics, which summarize all Service Files and their change metrics. For example, Total Change in Income tells the story, “Our program participants have gained $47,000 in income while participating in our programs.” 

Create Custom Reports

You can use reports to tell your own stories as well! You can copy and edit our template reports to suit your own needs, or create your own reports from scratch. To learn more about reporting, see our Reporting 101 and Reporting 201 trainings.