HOMEBUYER
EDUCATION
Home
ownership often involves many surprises - some welcome,
some not. First-time homebuyers can now be better prepared
for the paper trail that lies ahead. This program is designed
to prepare potential homebuyers for home ownership, enhance
loan investment quality, reduce the possibility of delinquency
and default, and improve the lives of citizens.
Prospective
homebuyers can learn about the home buying process through
classroom training with qualified instructors and avoid
many of the common problems that trouble new homebuyers.
The course provides information on the establishment and
maintenance of good credit ratings, budget and financial
management, loan agreement terms, property taxes, insurance,
home and property maintenance, home improvements, landscaping,
energy conservation, and community interaction. Successful
graduates of the six-hour program will be eligible for special
benefits, including qualifying for downpayment assistance
and access to special loan programs.
Free
classes are presented monthly. A six-hour class is presented
on the third Saturday of each month at the Leon County Community,
Room 918, Railroad Avenue (Amtrak Station). Homebuyer Education class schedule Lunch is provided
free of charge.
Homebuyer Education Program Highlights
Homebuyer
Education may entitle the participants to a reduction in
the cost of mortgage insurance. The participants may be
eligible for assistance with their downpayment and/or closing
costs. Upon completion, a participant will have a good understanding
of:
· How to budget for a downpayment
· How to find a home and make an offer
· How to apply for financing
· What takes place at closing
· How to establish a post purchase budget
· Why it is important to maintain a home
· Participant guides and classes are free for participants
Budgeting
for your home
· Stresses the importance of budgeting for the downpayment.
· Emphasizes the importance of budgeting after the
home purchase.
· Establishment of short-term/long-term goals and
priorities and sample budgets.
Shopping for your home
· Outlines how to locate your home.
· Describes the advantages of working with a real
estate agent.
· Explains purchase agreements, offers and the negotiating
process.
Shopping for your lender
· Focuses on selecting a lender, various types of
mortgages and securing a loan.
· Briefly explains how qualifying criteria is evaluated
by the lender.
· Discusses Fair Housing Laws and RESPA requirements.
Now you are ready to close
· Discusses the steps involved in the closing process.
· Highlights responsibilities associated with homeownership.
How to care for your home after closing
· Provides tips on performing periodic home inspections
to avoid major and unexpected home repair costs.
· Discusses saving money through energy efficiency.
· Presents information regarding safety issues and
securing the home.
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