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