Steps to your new home…

Is the time right to purchase a home?  What size home do I need?  How much do I have to put down on the purchase?  A budget worksheet will help you figure out your household expenses. This document is required and is recommended as the first step before considering home ownership. 

Are you pre-qualified or pre-approved by a HUD  lender? A pre-approval is a step up from a pre-qualification. A pre-qualification is more of an estimate, while a pre-approval is generally a true conditional loan approval issued after your income and assets have been fully underwritten.

Please complete your application and submit it to the Community Development Program Manager (CDPM) for approval.  Once approved, the CDPM will schedule for your 8-hour homebuyer education class.

Making an Offer to Purchase

Who will handle your purchase offer?  A REALTOR®. or attorney?  It’s strongly encouraged that work with a qualified REALTOR®. Find one that you are comfortable with because he/she can save you a lot of time and money. Again, before making an offer on a home, the homebuyer must be approved for our program. The homebuyer must have the assistance program application filled out and all financial information turned into our office before the CDPM can approve the application.  Please note the Homebuyers program and the amount of assistance in the offer purchase offer. 

Once a completed application has been submitted, the CDPM will typically review your completed application and provide a plan of action within 5 business days. Staff will also schedule a meeting with you to review the plan and help you take steps needed to apply for a first mortgage loan from a participating HUD lender of your choice. Once approved for the program, offers-to-purchase must allow for 30-45 days between acceptance of the offer and closing.