Departments--Human Environmental Sciences Extension
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H.O.M.E.: Home Ownership Made Easier

Program description and objectives

The homebuyer education class explains the home-buying process to prospective homeowners, especially first-time homebuyers. Topics include: financial preparedness, renting versus owning, how much house you can afford, working with professionals to find an ideal home, home maintenance and energy management, buyer assistance programs, mortgages, closing costs and homeowners insurance. This program was developed for ITV presentation with the help of Community Infrastructure Focus Teams. The overall objective of this program is to develop the skills necessary for potential homebuyers to select and finance a home. In addition, by meeting educational requirements for some grants and loans, the course removes some of the economic barriers to homeownership for low-to moderate-income participants.

The H.O.M.E. program compliments the Missouri Housing Partners initiative, which informs consumers about national and statewide financial incentives for home ownership. It meets the need for information about the home-buying process for low to moderate-income families. Further, it expands the financial resources of these families by assisting them in meeting the educational requirements of special programs targeted to remove the economic barriers of homeownership for first-time buyers. The long-term outcome of this program is to increase the homeownership rates in Missouri.

In order to enhance the content of the class and to provide financial assistance to the program participants, partnerships were formed with the following agencies to deliver the class: Consumer Credit Counseling Service - St. Louis, Missouri Department of Economic Development, U.S. Department of Housing and Urban Development, and USDA Rural Development Housing Service. In addition, the H.O.M.E. class has the support of the Missouri Rural Opportunities Council.

Target Audience

Referrals from Missouri Housing Partners (MHP), as well as other potential homebuyers interested in affordable housing are the target audience for this program.

Outcomes/Anticipated Outcomes

  • Potential homebuyers acquire skills to purchase and finance a home.
  • Participants meet educational requirements to secure secondary market financing and to receive discounts on mortgage insurance.
  • Promotion of interagency cooperation addressing housing problems.

Use the H.O.M.E. map to find programs and contacts in your area.

 
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Last updated: 10/30/14