#1 First Contact:
You called or visited the Homeownership center and signed up for an orientation meeting.
You took the first step toward Homeownership by attending the orientation and completing your personal profile form.
#3 Counselor's Assessment
A Housing Counselor order's your credit report evaluates your readiness and determines your needs.
#4 Initial Counseling Session
You attend the first meeting with a Housing Counselor or who develops a corrective action plan if needed, to resolve any potential obstacles you may face. The Counselor also schedules you for our 8-hour training course called "Realizing the American Dream".
#5 Homebuyer Education
You attend the 8-hour "Realizing the American Dream" training course.
#6 Subsequent Counseling Sessions
You are scheduled for individual counseling sessions, during which your housing counselor will help you become ready to apply for a mortgage.
#7 you are now Mortgage Ready
Your housing counselor will provide your affordability range and our Real-Estate Agent Preferred Provider List. You will also receive a few home-shopping tools. Now you are ready to begin the most exciting phase of the homebuying process!
#8 Home-Shopping Process
Using the tools provided during the homebuyer's training course, you view several properties and submit a signed purchase contract accompanied by your earnest money.
#9 Application Preparation Session/ Rehab Process
Your housing counselor helps you select the most suitable mortgage product and prepares all of the documents required for the formal loan application meeting.
If rehabilitation is required for the house, an inspection is ordered, a feasibility assessment is made, a work write-up is completed, a loan product is selected, the prebid process is conducted, bids are reviewed, and a contractor is selected.
#10 Mortgage Application Meeting
A loan officer will complete the formal loan application and submit it to the lender's internal processing department.
#11 Monitoring & Follow-up
Your housing counselor will monitor the processing of your application and contact you if additional information is needed. Remember, no news is good news!
#12 Application Approved
This center or the lender will notify you to let you know that your loan has been approved and a closing meeting will be scheduled.
#13 Closing Meeting
All documents are signed, the funds are disbursed, and you get the keys to your new home!
#14 Postpurchase Services
Upon receipt of the settlement form you receive at closing, the center provides a "New Homeowner's Welcome Pack." Wide arrays of other postpurchase services are available, including maintenance and repair training, ongoing financial counseling, resident leadership training and much more!