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The Community Housing Resource Center assists individuals and families in achieving financial stability and reaching the goal of home ownership. The Center also works with existing homeowners to understand their responsibilities and achieve long-term success. |
Homebuyer
Services | • Get the Facts Orientation: This is a 1-1/2 hour free orientation that is a first step in your home buying journey and will answer questions like: What are the benefits of using the Community Housing Resource Center’s services? Can I buy a home if I have bad credit? How can I get out of debt? Where do I begin? If you choose to work with the Community Housing Resource Center, we ask that you pay a small access fee of $50 for married couples/single individuals and $75 for unmarried couples. This allows unlimited access to all of our services, including unlimited counseling and classes for two years, as well as a merged credit report. • Assessment Counseling: These individual sessions examine each potential homebuyer’s circumstances and produce a work plan for how to proceed. For some people there may be credit repair or money to save to be ready to buy a home. For others, the next steps may be finding a realtor and a lender! An Assessment Counseling session is the perfect opportunity to explore your options. By spending about an hour with a Community Housing Resource Center staff member or professional volunteer, you will get realistic and impartial answers to your questions, including "Is this the right time for me to buy a house?" "How expensive a house can I really afford?" "Do I qualify for any special loans or down-payment assistance programs?" and "What are the next steps?" Have questions or concerns about your credit. We will pull a credit report, including credit scores, without lowering your score. The appointments are confidential and offered by appointment only. • Credit Repair Counseling: These individual sessions for most people, one session will help them in understanding their credit report and how to repair their credit. For others, how to work with collections, liens, and judgments. This service is $50 to the public. • Homebuyer Education Class: This 5 hour class is offered twice monthly. It covers selecting and working with a realtor and a lender, how to pick a neighborhood and a home, what public loan programs are available, responsibilities of home ownership and much more. People who complete this class receive a certificate of completion. This class is required for some loan programs. • CreditSmart® Class: Is a course designed to help renters and homeowners improve their financial skills and knowledge. Some of the topics include money management, establishing and maintaining good credit, credit restoration, and avoiding credit traps. • Homeowner Seminar: Offered four times a year, this seminar covers home maintenance, refinancing, equity loans and lines of credit, and preventing mortgage foreclosure. It will help you protect your investment in your home. • Reverse Mortgage Counseling: Many senior citizens with a large investment (equity) in their homes experience low monthly income and have trouble making ends meet. This counseling session explores accessing your investment by receiving monthly payments through a reverse mortgage. For some people, these loans make the difference that can keep them in their own homes. Down Payment Assistance Programs: • Columbia Non-profit Housing - First Home Loan Program: The First Home Loan Program is a revolving loan fund that provides assistance for first time home buyers. The fund is capitalized by grants from public and private sources. All assistance is in the form of loans. Loans made by the fund are secured by a second mortgage on the homes purchase. First Home Loan Orientations • Home Choice: This program is offered by a limited number of lenders in conjunction with the Washington State Housing Finance Commission. It provides an additional down payment/principal reduction loan, up to $15,000 for persons with disabilities or families with a disabled member. Information and required one-on-one counseling can be obtained through the Community Housing Resource Center. This down payment program can be used in combination with the First Home Loan Program. • USDA Rural Development: Guarantee Rural Housing (GRH) loans are made by approved private lenders to very low, low and moderate income applicants to purchase an existing home, newly constructed dwelling, or a new manufactured home with building site from a dealer contractor approved by Rural Development. Homes must be owner occupied and located in rural areas (loan options include GRH, Section 502 Direct and Section 504 Home Repair). • Washington State Housing Finance Commission - Bond Program: Features a below market interest rate for Federal Housing (FHA), Veterans Administration (VA), Rural Housing Services (RHS), or Conventional loans; a 30 year fixed rate State Bond, First Mortgage loan Programs: House Key State Bond, House Key Teacher and Second Mortgage loan programs: Home choice, House Key Plus, House Key Extra, and House Key Rural. For more information visit www.wshfc.org |
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