We can help you understand the home buying process. Attend classes or counseling on personal finance, credit repair or loan options.
‘Get the Facts’ Orientation
This one-hour orientation is where the initial steps to financial stability as well as homeownership are introduced. A CHRC volunteer lender and real estate agent present an overview of the process to home buying. Clients’ goals may be short-term—home buying may be in their immediate future; others who may have gone through a financial crisis or have become trapped in a vicious cycle of credit dependency require a longer term approach to credit repair. Clients are asked to indicate on their intake form the services they are interested in. Most clients elect to sign up for an initial Assessment Counseling session as a first step. At the initial Assessment (one-on-one) Counseling session, a credit report is pulled, and the client’s goals are discussed and set. An action plan is developed that includes time frames for completing steps and then follow-up is set. Referrals, both professional and community focused are given as needed.
The Homebuyer Education Class is where you will receive an overview of the home-buying process, from both the housing real estate professionals’ and buyers’ perspectives. It outlines the purchasing steps and requirements as well as a variety of other issues including the value of a home inspection, the variety of loan types, specific public loan programs and homeowners insurance. Upon completion, attendees receive a Certificate of Completion which is required by several loan programs available to low and moderate income first-time homebuyers. Ask the experts. What is the difference between an appraiser and an inspector? Is home insurance the same as mortgage insurance? How much insurance do I need? Besides a down payment, is there anything else I should save for?
We’ll help you assess your readiness to buy along with your financial capacity and eligibility for first-time homebuyers programs including down-payment assistance programs targeted for low-income families. Credit Reports are pulled and financial profiles analyzed. If financial obstacles or barriers are identified, then a homebuyer action plan is created with recommendations to register for the financial education class, Finance Smart, or move to the Homebuyer Education Class. This new approach to ascertaining your readiness to buy streamlines the process while addressing the necessary information in a more efficient and thorough manner.
Home Choice Counseling
Home Choice Counseling Offers a solution for people with disabilities who may need assistance for securing a down payment. The Community Housing Resource Center provides the required one-on-one counseling for clients wishing to participate in ‘Home Choice’, a statewide down-payment assistance program for people with documented disabilities.
The City of Vancouver Rehab Loan Program
The City of Vancouver Rehab Loan Program Pairs qualified homeowners with financial assistance for basic home repairs up to $25,000. Residents must have equity in their home to participate. The Community Housing Resource Center offers free counseling to determine program eligibility.
Post-Purchase Counseling is designed to encourage responsibility and prevent mortgage default and foreclosure. It addresses the importance of home maintenance and weatherization, insurance and home safety, refinancing a mortgage, equity loans and lines of credit, and avoiding common financial pitfalls to protect one’s investment and prevent foreclosure.