Home Buyers
Education & Counseling
Home Buyers Education and Counseling helps New Americans and minorities realize the dream of home ownership. Group education classes and one-on-one counseling are offered free of charge.
Home Buyer Education
The process of buying a home can be exciting and a little overwhelming. Home buyer education sessions are designed to help New Americans and other minorities learn about the home buying process and attain the goal of owning their own home. Instruction is available one-on-one or in a group setting.
A Home Buying Specialist, along with real estate agents, lenders and home inspectors, will explain their role in the process. Translators will assist as needed to interpret information presented.
Session 1: Starting the Buying Process
This first session covers the pros and cons of home ownership and helps participants to assess their needs and readiness for home ownership.
- Cost comparison of renting vs. owning
- The pride of investing and belonging to a community
- Possible barriers to home ownership
- Housing affordability
- Assessing your financial status
- Developing a budget plan to increase savings and reduce spending
- Home financing products and options
- Steps in the mortgage process
- Loan application and approval
Session 2: Completing the Buying Process
This session walks participants through the steps they need to shop for, purchase and maintain a new home.
- How to search for a home
- How to choose and work with a real estate agent and lender
- Key things to look for when selecting a home and a neighborhood
- What are purchase contracts and home to make an offer
- Types of home ownership
- Property taxes and insurance
- Escrow and closing costs
- Community involvement
- Home safety and security
- Record keeping
One-on-One Housing Counseling
A certified home buying counselor is available to help those needing one-on-one assistance. One-time or multiple counseling sessions are available depending on individual needs.
The counselor will work with you to review your credit and set up a household budget. Together, you and your counselor will create a financial plan, establish goals and monitor your progress.
Topics include:
- Forclosure prevention
- Credit counseling
- Loan modification
- Housing affordability
- Budget counseling
- Debt reduction counseling
- Mortgage financing
- House insurance
Home Buyers Counseling and Education is offered in conjunction with the New Americans Services Program of Lutheran Social Services of North Dakota.
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