Homebuyer readiness coaching will help buyers prepare to become homeowners

NeighborWorks Home Partners (NWHP) is encouraging would-be homebuyers to prepare for the spring buying season by getting familiar with the homebuying process and cleaning up credit scores. Two programs at NWHP help buyers reach their homeownership goals.

HomeOwnership Pathways is a homebuyer readiness program that includes one-on-one advising sessions and financial education with HUD-certified counselors.  Advising sessions cover the basics of buying a home, qualifying for a mortgage, what types of mortgages are available, and how personal credit affects buying a home.

Sessions also include a credit report review, goal setting, and budgeting, and help customers create an action plan to correct credit report errors and take steps to improve credit scores. There is no charge for the advising sessions, but it is recommended that participants receive a soft-pull credit report, at a fee of $22 for individuals or $44 for couples.

For more in-depth homebuying information, buyers are encouraged to attend a Home Stretch workshop. In these workshops, experts from around the real estate industry teach about what happens at each stage of the home buying process.

Attendees have an opportunity to ask questions and get answers directly from Realtors, loan officers, home inspectors, and insurance agents.

Workshops and advising sessions are offered at two locations:
Saint Paul: NeighborWorks Home Partners, 533 Dale Street N., St. Paul MN  55103
Minneapolis: City of Lakes Community Land Trust, 1930 Glenwood Avenue, Minneapolis MN  55405

Registration for classes and advising sessions is online at http://nwhomepartners.org/get-ready

Spring Workshop Dates

March 10             Saint Paul
March 17             Minneapolis
March 24             Saint Paul
April 7                 Minneapolis (HMONG LANGUAGE)
April 14               Saint Paul
April 21               Minneapolis
May 5                  Saint Paul (HMONG LANGUAGE)
May 12                Minneapolis
May 19                Saint Paul

“We help homebuyers look at the big financial picture,” said Nick Yang, a housing counselor with NWHP. “How does your credit score affect the mortgage you get? What steps should you take before getting pre-approved for a mortgage? In our advising appointments, we help buyers understand all of their options, and come up with an action plan so they can reach their goals.”

“Our number one goal is to empower buyers so they can have a successful home buying and homeowning experience, Yang continued. “The thing I hear again and again from our workshop participants is that they wish they’d taken the class earlier in the buying process. So my advice now is, ‘Don’t wait! Register for a workshop before you start to look at homes.’”

NeighborWorks Home Partners is a community based nonprofit organization located in Saint Paul and is a member of the national NeighborWorks America network. Specializing in homebuyer education and preparation, including credit repair, home improvement loans, down payment assistance and foreclosure prevention, NWHP serves the seven-county metro area with special program emphasis in the city of Saint Paul.    The organization currently provides services in English and Hmong.

More information and registration is available see nwhomepartners.org/get-ready.