HOME recognizes that buying a home is one of the single largest purchases you will make and want you to understand the process to make good choices and decisions. It is our desire to help you with this major investment and we are convinced that comprehensive homebuyer education is an essential first step. To learn a little about our program, click here to download our two-page brochure entitled “7 Steps to Home Ownership”. This will give you insight on the process and also the down payment and closing cost financial assistance programs we offer.
Below you will find information for our various homeownership services. To get started with these services, you first need to get our home ownership packet which contains a credit authorization form for permission to pull your credit report. You can click here to download this packet. If you want to receive services, you must complete all items on the Credit Report Authorization Form and return it to HOME via US MAIL (do not fax). You can also call our office at (804) 354-0641 and we can mail a packet to you.
Buying a home of your own
Owning your own home provides security, a good place to raise your family, and helps you build wealth as you pay off the mortgage and your house increases in value. It is important for you to understand all of the issues and pitfalls involved in buying a home, so that you can find the house that meets your needs and buy it on terms you can afford. It's not just buying the house that's important - it's being able to keep it as time passes.
HOME has been helping first-time homebuyers prepare themselves for more than twenty years, and we are proud of the outstanding long-term success rate of the people who go through our program! We provide education, individual counseling, and financial assistance to qualified buyers. Download the homeownership packet and complete the Credit Report Authorization form to get started on the path to homeownership.
Homebuyer education classes
Following the review of your credit report by HOME staff and finding it ok, you will be invited to attend homebuyer education classes that will teach you what you need to know about finding and buying a house, how to work with a real estate agent, how to get the best mortgage, what happens when you close on a house, how to manage your mortgage, how to avoid being taken advantage of by people who want to lend you money on bad terms, and home maintenance.
If your credit is poor, don't give up hope. You can change that. Attend one of our money management and credit recovery classes.
Pre-purchase counseling
After you've been through the homeownership education classes, you will meet with a certified pre-purchase counselor who will help you evaluate your readiness for homeownership and develop a plan to deal with any issues that may be barriers to homeownership. The plan may include savings goals, paying down credit card debt, or whatever is necessary to make sure you are prepared to purchase - and keep - your own home. Download the homeownership packet and complete the Credit Report Authorization form to get started on the path to homeownership
Down payment assistance
If you meet income and other eligibility requirements, you may be able to receive financial help with the down payment and closing costs. The assistance is in the form of a loan forgivable over a period of five years, as long as you remain in the house.
Click here for an overview of the Down Payment Assistance program.
If you are interested in the program, you must download the homeownership packet and complete the Credit Report Authorization form to get started on the path to homeownership.
Money Management and Credit Recovery Classes
If you have poor credit, don't lose hope. HOME offers money management and credit recovery classes that will help you gain control of your financial affairs, improve your credit, and make the changes in your lifestyle that you will need to make in order to become eligible for homeownership. Whatever your problems are, you will find that others have them too - and working together will reinforce your commitment to making changes.
For more information on how HOME can assist you in your home buying process, email help@phonehome.org or call (804) 354-0641 with your mailing address and we'll mail you a packet of information to get you started.
