Doing your own research before attempting to step into the home buying process is a great idea - you don’t buy a car before learning how to drive, right? To make your dream come true, there are many steps within the home buying process and many different professionals that you will interact with along the way.
A great start to becoming educated is to attend a home buying course. This will give you an overall scope of what to look for - and what to look out for - during your home buying adventure. In a home buying course, you will learn more about:
- Budgeting for a down payment
- Understanding Credit reports
- Shopping for the right loan
- Shopping for a home
- Mortgage process from A – Z
Another important feature of these courses is to help you understand who will be involved in your home buying experience, which includes:
- Realtors
- Loan Officers
- Appraisers
- Building Inspectors
- Title Companies
Some courses will cost money (roughly $30-$50) but usually come with a Certificate. This Certificate is good for 2 years and might be associated with closing cost assistance if you are qualified through Maine State Housing Authority.
For more information and to find course schedules, visit the Homeworks website. This particular site is affiliated with Maine State Housing, and offers course certificates that are valid for two years. If you complete this course and finance through Maine State Housing Authority, you will also qualify for the Gift of Green (while supplies last). The Gift of Green is a grant (that doesn’t need to be repaid) of $2,500 to be used towards closing costs.
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