The First Step in Successful Homeownership Starts with Homebuyer Education
Have you been dreaming of owning your home?
Are you wondering if it would be better to own your home instead of paying someone else’s mortgage? Have you been a homeowner in the past, but you are still confused about where to start?
Then homebuyer education is the first step to becoming a successful homeowner.
Buying a house is a big deal and not as simple as it used to be. Whether you are buying for the first time or the fifth time, you need to be more savvy and proactive.
Homebuyer education provides consumers with knowledge and tools that can make their home shopping experience go more smoothly and feel less overwhelming by teaching tips and tricks to look out for along the way.
Are you wondering if you are even ready to purchase a home? Do you have the credit, work history, money and knowledge needed to be a homeowner?
By the time the class ends you will understand what is needed to be mortgage ready. The homebuyer educator will go over the basics of credit, how it works, minimum credit scores lenders like to see, work history requirements, out of pocket expenses, down payment, closing costs and the pros and cons of homeownership vs. renting and money management.
In addition to all of this, participants will have at their disposal professional speakers to answer any questions they may have.
- A lender will discuss how to become mortgage ready and lending products that may be available.
- A Realtor will discuss the difference between a buyer’s broker and a seller’s broker, shopping for a home, and what to include in an offer.
- A home inspector will discuss what you should pay attention to when looking at homes and the importance of obtaining an inspection by a licensed home inspector to protect yourself legally.
- An insurance agent will talk about the different types of home insurance, why it is important and the typical cost.
Do you think you do not have down payment money and closing costs?
Think again! Participants also learn about products that offer 100% financing.
But what if you have challenging credit or too much debt and need to know how to address your specific situation?
In a free one-on-one session the homeownership specialist will review your goals, income, expenses and credit. You will leave your session with a detailed action plan with steps to address any obstacles that you may have to reach your goal and you will know how much house is truly affordable for you.
Quote from the Housing Counselor –
“I worked with a customer whose scores were below the minimum required by mortgage lenders. After reviewing the credit report and explaining what was affecting her scores, I created a personalized action plan that including paying off some collections and opening a credit builder loan. The customer left with the action plan and a lot of motivation. When the customer came back for her three month follow-up appointment, she was mortgage ready” –Nancy
Buying a home is probably one of the biggest commitments you will make. When homebuyers take this course they are better prepared for the purchase transaction as well as the ongoing costs of homeownership.
Wait! There’s more…
What about life after closing?
Participants will also learn how to protect their investment and how to use it when they need to. They will learn how to avoid foreclosure and what to do if they feel like they are headed for trouble. Participants also learn about the importance of proactive home repairs to avoid deferred maintenance issues.
If you are not convinced yet, read these quotes by one of the homebuyer education participants.
“I had always dreamed of owning my own home, but I had no idea where to begin. Television makes the home buying process look easy! I decided to educate myself and signed up. The class was totally worth the time and money. I learned so much!”- Stacie, Rutland VT
“The thought of buying a home and having all those new responsibilities can be scary. However, after crunching the numbers, I realized that my monthly expenses would not be much more than what I was currently paying and I would just have to plan accordingly for the future. I have been a homeowner now for the past year and everything has gone according to plan” Stacie, Rutland VT
“Being a newly self-employed artist I was working hard to build my business and save money. Buying a home is a big decision and takes a lot of time, money, hard work and commitment. However, I am happy that I took the leap. I can confidently say that homeownership was one of the best decisions I have ever made. Putting time and money into my home making improvements makes me proud of where I live” –Stacie, Rutland VT