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Home Buying Tutorial
Home Buying Process
The best way to prepare for homeownership is to enroll in a home buying education program. This program is mostly offered by non-profit housing agencies.
Once enrolled you will go through a process called
pre-housing counseling.
Here’s out it work
1) Make appointment with housing agency
2) Go for first consultation
3) Talk to housing counselor
4) Take the following paperwork with you to your first
consultation unless instructed to do otherwise
- copy of all 3 of your credit reports
- something that can verify your employment status
- most recent check stubs
- most recent income tax forms
- proof of extra income
- proof of residence
5) Fill out client information form
6) Fill out an evaluation form (attach the above paperwork to this form).
7) Housing Counselor gathers information from the evaluation form and place you on a housing plan.
8) Arrange another consultation
9) Counselor discusses plan with you and give recommendations on such things as your credit reports, your debt, budget, your finances, your income, and your career path.
10) Counselors recommend client enroll in a pre-home buying workshop. The topics usually includes:
- Personal Finances
- Real Estate Agent/Broker
- The Home Buying Process
- Mortgage Financing Process
- Closing Process
- Foreclosure Prevention
When you finish your workshop you will be better prepared to purchase a home than ever before
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