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Homebuyers Program


Homebuyers Workshop

Our agency proposes to introduce and instruct residents on the process of becoming a homeowner.

Below is the outline of the scope of work requested, including objectives, procedures and identification of responsibilities.

Objective:  To assist participants to understand the process of buying and maintaining their own home.

Participants:  Residents and interested individuals

Duration:  To be determined

Section 1:  Introduction

  • Why is homebuyer education important?
  • What does it mean to be a first-time homebuyer?
  • Is homeownership for me?
  • What is the true cost of homeownership?
  • Steps in the homebuying process
  • Key players and their roles in the homebuying process
  • Successful money management begins with a spending plan.
  • Credit
  • Consumer Laws

Section 2.  Mortgage Lending

  • Preparing for your mortgage loan application
  • Getting prequalified for a loan
  • Choosing a lender
  • Down payment assistance
  • Applying for your loan
  • Choosing a loan
  • Subprime lending/Predatory lending
  • Under Contract
  • Loan processing
  • Loan underwriting and approval
  • At closing

Section 3:  Real Estate

  • Role of a real estate broker
  • Selecting a real estate broker
  • Shopping from home
  • Locations of homes
  • Types of home
  • Homeowners Associations (HOA) or Common Interest Community (CIC)
  • Purchasing a home
  • New Construction
  • Post Purchase
  • Homeowner financial management
  • Reasons your payment can change
  • Don’t become a target
  • Preserving your equity
  • Refinancing
  • Maintaining your home and protecting your investment
  • Reasons for foreclosure
  • What to do if your cannot make your house payment