Homebuyer Education
"The First Step towards Successful Homeownership"
Since the home purchase process can be costly and complex, THDA requires homebuyer education for all Great Start, Great Advantage, and Stimulus Mortgage Loan program applicants and encourages it for all consumers considering homeownership. The Agency's purpose not only is to assist people with purchasing homes, but also to help them become long-term, successful homeowners.
Consumers, regardless of income, age or ethnicity, may be intimidated by the home buying process. In-depth education and training prepares consumers - emotionally and financially - for the commitment and investment of buying a home, generally the largest purchase they will ever make.
THDA maintains a list of certified homebuyer education trainers who can help consumers as they consider purchasing a home. The "Realizing the American Dream" homebuyer education curriculum* used by these certified trainers addresses the following four basic areas:
1. Budgeting and Credit
2. Shopping for a Home
3. Getting a Mortgage Loan
4. Keeping Your Home and Managing Your Finances.
Participation in a "Realizing the American Dream" homebuyer education class will help consumers understand the following:
- The advantages and disadvantages of owning a home
- Setting goals
- How to budget and save
- How much they can afford to pay for a home
- The importance of good credit when they try to borrow money
- How to find the right house in the right neighborhood
- How to make an offer
- The steps to getting a loan
- How to maintain and protect their home after they move in
*The "Realizing the American Dream" curriculum is a copyrighted training product of the Neighborhood Reinvestment Training Institute.