Homeownership Counseling and Education
Mutual Self-Help Program | Counseling and Education | Multi-Family Apartments | Kingman Programs
Overview
| Homeownership Services
Housing America Counseling Department delivers a variety of homeownership services in our communities of La Paz, Mohave and Yuma Counties. We understand that purchasing a home is one of the largest investments a person will make in their lifetime. Homeownership creates stronger communities by fostering stability, integrity and economic growth. Our Counseling Department helps families address the many barriers that prevent them from owning their own home, while providing support before, during and after the home-buying process. Our services include Pre- and Post-Purchase Homebuyer Education as well as down payment and closing cost assistance administered through Arizona Department of Housing. Such services create long-term, successful homeowners; as a result, families build long-term wealth, revitalize neighborhoods and build strong communities.
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Links
www.yourwayhomeaz.com
www.housingaz.com
http://www.housingaz.com/azhfa/ |
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Homeownership Preservation (Foreclosure Intervention) and Post Purchase Counseling
Post-Purchase Counseling is a free service with no income restrictions for new and current homeowners in Yuma County. Achieving homeownership status is a rewarding and challenging experience, therefore new homeowners are encouraged to attend Post-Purchase Counseling classes within the first year of homeownership. The goal of the program is toprovide new homeowners resource on how to maintain long term homeownership and avoid foreclosure through financial management.
Part of the Post-Purchase Counseling is foreclosure intervention counseling. The counselor will provide individual and confidential counseling to families or individuals that have fallen behind on their mortgage, or are facing foreclosure. Homeowners are assisted in preparing a workout plan and finding options to each individual situation. Individuals under this situation are encouraged to be proactive. Contact us TODAY or other HUD approved counseling agency.
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Please filled out and bring the following document to your initial interview.
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Intake Form
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Monthly Expense Form
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Sample Hardship Letter
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Required Documents List
Downloadable documents are available under forms section on the web site.
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Frequently Asked Questions
How do I apply for the Down Payment and Closing Cost Assistance?
Download and complete the HOMES Pre-Application, mail or fax it in to our office, once you have applied you must complete the Homeownership Education Class.
Is there a fee for the program?
There is a onetime $30.00 application fee that is due and payable in the form of either a money order or certified check at the time of your appointment with the Counselor.
How do I sign up for the Homeownership Education Class?
Once you have completed and turned in the HOMES pre-application you may call or come in to our office to sign up for the class.
How often are the classes?
We offer English and Spanish classes once a month, please see class schedule for exact dates and times.
What will I learn at the class?
Counselors provide a detailed 6-8 hour curriculum on homeownership, budgeting, credit, mortgage lending, shopping for a home, home maintenance and repair.
When will I know if I qualify for down payment and closing cost?
Following the Homeownership Education class you will be given a counseling interview appointment to determine home purchase affordability and program qualification.
What do I need to bring to the counseling interview appointment?
You will need to provide copies of pay stubs for the last 30 days, bank statements for last 3 months, federal and state tax returns with W-2 for last 2 years.
Will the counselor run my credit report?
Yes, the counselor will run a tri-merge credit report to determine total debt owed by the borrower.
How much down payment and closing cost assistance will I qualify for?
The amount varies depending on purchase price, household income, household size, maximum down payment of $17,000 and $3,000 closing cost.
Can I sign a purchase contract before I apply for the HOMES program?
No, signing a purchase contract before attending the Homeownership education class renders the application ineligible for down payment and closing cost assistance.
Can I attend the homeownership education class only without applying for the down payment and closing cost assistance?
Yes, our homeownership education class if free of charge and open to the public and can be attended by reserving your seat.
Is there a down payment that the borrower will need to contribute?
Yes, the HOMES program requires the borrower to have a $1,000 minimum out of pocket investment towards the purchase of the home.
Is a home inspection required on the home that is being purchased?
Yes, program guidelines require a safe and sanitary home inspection that is performed by a HAC inspector free of charge to the borrower.
Will the Counselor help me find a Mortgage lender?
The Counselor will provide a list of participating lenders for the borrower to choose from.
Will the Counselor help me find a Real Estate Agent?
The Counselor will provide a list of local Real Estate Agents to the borrower.
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