Homeownership Education and Counseling

Program Overview

For many buyers, the process of purchasing a home can seem complicated and overwhelming. There are also buyers who feel ready to purchase a home but in reality may not be financially ready. Time spent in a homebuyer education class or with a HUD certified housing counselor can help a buyer understand the process and reach a position of being mortgage-ready.

NECAC certified housing counselor has the tools and expertise to help the client resolve financial, problems, determine actual household needs, and work on a budget and spending plan and an action plan that begins to prepare the buyer to meet the financial requirements of his or her new home.

The classes cover Finances, Credit, the Home Buying Process, and Protecting Your Investment, among other topics, and are a requirement for many assistance programs and lenders.

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Home Buying Process

  • Mortgage Payment and Other Costs
  • Avoiding Predatory Practices
  • Pre-Approval
  • Lenders and Mortgage Loan Products
  • Working with a Lender
  • The Loan Approval Process
  • Your Rights as a Loan Customer
  • Choosing the Right Neighborhood
  • Types of Homes and Ownership
  • Selecting the Right Home for Your Wants and Needs
  • Putting Together an Offer
  • Negotiation
  • What To Expect From Contract To Closing

Protecting Your Investment

  • Home Safety
  • Preventative Maintenance
  • Remodeling & Repairs
  • Community Involvement
  • Money Management
  • Record Keeping
  • Taxes
  • Insurance
  • Accessing Equity, Refinancing and Prepaying your Mortgage
  • Understanding and Avoiding Foreclosure

Finance

  • Setting Financial Goals
  • Is Homeownership Right For You?
  • Assessing Your Financial Situation
  • Evaluate Your Money Habits
  • Learn to Maximize Income and Reduce Spending

Protecting Your Investment

  • Credit Agencies, Credit Reports and Credit Scores
  • How to Improve Your Credit Score
  • Ways to Protect Your Credit
  • Your Credit Rights as a Consumer

NECAC is a HUD Certified Home Ownership Counseling Agency

Counselors can provide information on:

  • Prepurchase Counseling
  • Post Purchase Follow Up
  • Home Ownership Classes
  • Down Payment Assistance (St. Louis County, St. Charles City and County, City of O'Fallon, and City of Florissant only)
  • Credit Counseling
  • USDA 502 Direct Loan
  • Foreclosure Prevention and Loan Modification
  • Financial Literacy
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More Information

Contact

Carla Potts

Mail

Housing Development
PO Box 470
Bowling Green MO 63334

Phone

573-324-6622

Fax

573-324-2361

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