Homebuyer Education

So, you want to become a homeowner? That’s a fantastic goal. Homeownership is a powerful tool, creating stability for your family and your community (read more about the power of homeownership here). But, how do you get there? What are the steps needed to qualify for a home loan and buy a house? The Neighbor Project Homebuyer Education gets you the knowledge you’ll need to purchase—and keep—your home. We will walk with you through each step of the home buying process, helping you discover how to leverage your income into an asset.

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Together we will create a customized “Homeownership Blueprint” that will cover:

  • Credit reports and how they affect your home purchasing.
  • Budgeting for homeownership.
  • The home buying process.
  • Different types of mortgages.
  • Down payment and closing cost assistance (completing our Homebuyer Education Certificate program may qualify you for grants and/or low-interest loans).
  • For families needing help saving for a larger downpayment on a home, we will discuss TNP’s “Networked Savings” program.

Our Steps to Homeownership

  1. Obtain a home buyer packet, English or Spanish. (download English homebuyer packet here  |  download Spanish homebuyer packet here)
  2. Complete and provide all requested documents. (If you need help with this step, volunteers are available at our Customer Service Center every 1st & 3rd Wed. from 5–7pm at Everlasting Word Church, 22 N. Highland Ave., Aurora, IL 60506)
  3. Complete our $99 Homebuyer Education Certificate Seminar online or in person: In Person: 2nd or 4th of each month (2nd Wed. from 9am–1pm or 4th Wed. from 1–5pm);
    OR you can complete your course Online (24/7) by clicking here
    (Online Course by Framework also available–see below)
  4. After your Home Buyer Seminar, you will have a one-on-one appointment with HUD Certified Counselor where together you will create your personalized plan to become a home-owner, which depending on your readiness, could take anywhere from 2 months to 2 years or more. During this process, you will review your credit and credit score; your monthly budget; and tools and resources that may be available to you to help you with costs associated with purchasing a home. Following your one-on-one counseling session, you will then receive a Homebuyer Education Certificate, which is required for many downpayment assistance grants or forgivable and/or deferred loans

About Framework Homebuyer Course

Buying a home is a big deal, whether you’re doing it for the first time or getting back into the ever-changing market. When you educate yourself for smart homeownership you’ll navigate the entire process with confidence. TNP is proud to offer the Framework homebuyer course. Framework is the most comprehensive of its kind. It meets HUD guidelines and exceeds National Industry Standards for Homeownership Education and Counseling. What does that mean for you? Our course is accepted by most local and national mortgage products and first-time homebuyer incentives that require education. We will help ensure that you understand your mortgage. We will explain lending and the basics of the different mortgage products so you make the right choice for financing your home. Additionally, we will help determine if you qualify for grants or low interest loans to help you buy your home. We will educate you about the different types of down payment and closing cost assistance offered by banks, city governments and other down payment assistance sources. This video made by Framework will be helpful.

CLICK HERE to access the Framework Homebuyer Course, which satisfies the homebuyer education requirements for Fannie Mae HomePath Ready Buyer™ and HomeReady® by Fannie Mae.