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Click on the ATTEND A WORKSHOP link on the left of this page for date and times

Make Your Move - Pre-Purchase Housing Workshop

This course is designed for first-time homebuyers or individuals that have not purchased a home recently. The course provides participants the step-by-step information in preparation of homeownership, understanding lending requirements and how to maintain their home once they own it.

The goals for Make Your Move . . . a Guide to Homeownership are:

• To prepare you for all aspects of the home-buying process
• To provide you with the information you need to gain confidence in handling the process of buying a home

• What lenders consider when deciding whether you are a creditworthy buyer
• The types of loan programs available
• The types of fees involved with the purchase of a home
• Who the professionals in the home-buying process are
• Legal documents you will be asked to sign when buying a home

Knowing what is involved in the home-buying process helps you understand what will be expected of you and will help you get the best deal possible.

COURSE OUTLINE

Lesson 1: You want to buy a house, where do you begin?

• Are you ready for the responsibility of homeownership? / Look at your spending plan
• Learn who is involved in the home-buying process / The 3 basic truths to mortgage lending
• What is needed to make a credit decision? / The documents you will need for your loan application
• Choosing a lender

Lesson 2: How is your credit payment history?

• Your credit report / Evaluating your credit information
• Correcting errors on your credit report / Credit repair clinics

Lesson 3: Getting pre-qualified or credit approved

• The difference between pre-qualification and pre-approval / Your employment history
• Determining your income / What monthly debts do you have?
• What are debt ratios? / The house payment (PITI)
• Escrow accounts / How much money will you need?/ Gift funds

Lesson 4: What types of loans are available?

• The big four "loan vehicles" / The "trailer programs"
• The "luggage rack" programs / Other financing options
• What parts make up a loan? / Fixed or adjustable rate mortgage loan?

Lesson 5: Shopping for a home

• How do you find a home to buy? / Using a real estate agent
• What types of homes are available? / Existing homes
• New construction / Making an offer to purchase

Lesson 6: Finalizing your loan

• The home inspection / The appraisal / Flood certification
• Title certification / Survey or plot plan / Full loan approval

Lesson 7: The loan is approved - let's close!

• The closing / What should you expect at the closing? / Closing costs
• Pre-paid expenses or escrow set-up fees / What documents might you sign at the closing?

Lesson 8: You are a homeowner! What now?

• Making your payments / What if you can't make your payments?
• Refinancing your loan / Maintaining your home / General maintenance
• Spring & Summer maintenance / Fall & Winter maintenance
• Remodeling or making repairs / The joy of being a homeowner

Lesson 9: Watch out for predators!

• Avoiding predatory lending practices / We are all targets of predatory lenders
• Predatory lending "red flags" / Predatory practices / Potentially predatory practices
• Methods used by predatory lenders to contact you / What if you are a victim of predatory lending?