Step 1: Are You Ready for Homeownership
- What are the benefits and challenges to owning your own home
- What are the differences between owning and renting
- What are the steps in purchasing a home
- Understanding the relationship between your income and loan limits?
- How do you qualify for a loan?
Step 2: How to prepare a household budget
- Why a household budget is important to homeownership
- How to obtain and understand a credit report
- How to correct poor credit
- What are your rights as a consumer
- What are the options for obtaining credit
Step 3: Shopping for a Home
- Getting help from qualified companies
- Determining what you can afford
- Determining the type and size of house you need
- What to look for in neighborhoods
- Evaluating the Home Computer
- Negotiating a real estate contract
- How to determine a fair price
Step 4: Shopping for a Mortgage Loan
- Understanding underwriting criteria
- How to compare mortgage products
- Types of lenders and types of loans
- How to avoid mortgage fraud
Step 5: Closing on Your Loan
- Understanding the loan process
- Understanding the down payment and closing costs
- Title insurance
- Homeowner insurance
- Closing process
- What to do if your loan application is rejected
Last Step: The House is Yours, Now What?
- What needs routine maintenance
- How to determine a maintenance budget and set up an account
- Being a good neighbor
- Energy conservation
- Delinquent payments – what to do