We do this through Housing Counseling. This free service helps you become ready to own and maintain a home. Many folks dream of having a new home, but are intimidated by the process. It could be a fear of bad credit that’s holding you back, confusion about loans, or just concerns about taking on the responsibilities of owning a home.
That’s why each HDA client receives counseling before they ever move into their new home to make sure they’re ready to be homeowners and to remove any anxiety they may have.
Our Housing Counselor is an experienced, trained professional who can advise you on preventing foreclosure, buying a home, protecting your credit, and other issues.
HDA’s Housing Counselor can talk to you about your situation and identify your options as you prepare to buy an HDA home. Our counselor will help you decide what mortgage options are best for you and talk you through any concerns you have about falling behind on your mortgage. Again, there is no charge to work with our counselor—help is free and it’s part of our program!
Your credit rating is important, but it’s not a make or break requirement.
Our counseling sessions include ways to improve your credit so that you can submit the best mortgage application possible, as well as tactics for managing your credit once you get into your new home.
Worried about making that first mortgage payment? Our Housing Counselor will work with you to manage your finances properly.
Our Housing Counselor will help develop a current household budget, a budget for the transition period that comes before moving into the new house, and a budget for when the new homeowner officially begins to live in the home.
Whether you go through HDA or another lender, the mortgage loan process can be long and confusing. In order to make it a little easier, we cover all of the key steps involved including when and how they take place. This includes the fees and costs associated with a home as well as the financial obligation. In addition, we will cover how to get homeowner’s insurance and how this insurance works.
We don’t just want to help you buy a new home - we want to make sure each family is able to keep their home! To do that, we’ll teach you budgeting, how to avoid predatory lending, using home equity wisely, and maintaining good credit. We’ll also cover basic home maintenance and all the warranties we provide with the new home.
Make sure you have your basic financial and loan information on hand when you call. You’ll need: your mortgage statements, including information on a second mortgage (if applicable), monthly debt payments (e.g., car or student loans, credit card payments), and
your income details.