Pre-Purchase Homeownership Counseling
Purchasing a home is one of the biggest financial commitments you will ever make. For that reason, it is important to understand the process as best as possible. Pre-Purchase Homeownership Counseling can help you with that. People who attend pre-purchase homeownership counseling generally have better credit scores, less total debt, and fewer delinquency days on payments. Additionally, Pre-Purchase Homeownership Counseling is important for anyone considering a home purchase but may even be a requirement for those participating in a down payment assistance program or other FHA home purchase program.
Homeownership is not just as simple as picking out a house and paying for it. Pre-Purchase Homeownership counseling programs usually start by helping you assess your finances in order to begin the process of finding an optimal mortgage. For many first time home buyers, the most daunting part of purchasing a home is generally the mortgage. Pre-Purchase Homeownership counseling teaches you the basics of securing a mortgage, available down payment or closing cost assistance program, how to choose the right loan, avoid loan fraud and close a loan. Participants also learn what to keep in mind when searching for an ideal home that fits your needs and then how to make an offer, as well as what should be focused on during the inspection process. All of these components are critical not only to ensure that the purchase of your home is hassle-free but to ensure you are also able to stay in your home.
If you didn’t realize there were so many components that factor into purchasing a home, Pre-Purchase Homeownership counseling is a good way to cover your bases and feel confident about your new home purchase and your future in that home. Though some resources are easily available online, the best way to receive Pre-Purchase Homeownership counseling is in person or from a certified online program such as Framework Homeownership.
PCDC offers both homeownership counseling and a partnership with Framework. As a HUD-certified agency, PCDC receives HUD resources and training in order to meet national standards for housing counseling. Appointments can be made if you have any questions. PCDC currently offers free First Time Homebuyer Education classes. The next session will be held on Monday, October 17. To register or find out more about how PCDC can help you make your home purchase as simple as possible, call PCDC at 215-922-2156 and ask about homeownership counseling.
Keep in mind, it is not just about buying a home—it is about staying in it. Research shows that informed homebuyers are the most successful homeowners.