Whether you are a first time home buyer or a veteran, buying a home is a complex process.  It's always a stressful time, no matter how well you plan for it.  But doing your homework will definitely pay off in the long run.

Beginning this month, CAR becomes one of eight regional training partners with The Idaho Partners for Homebuyer Education to administer its Finally Home!® program.  A training partner since 2002, North Idaho College resigned from the program at the end of 2008.

If you are a first time homebuyer, this is a wonderful opportunity for you to prepare for homeownership now, or at some point in the future.

Class Schedule

The class series is 8 hours in length and is offered monthly in 2009.  The first class will be held on January 20 and 27 from 5:30 to 9:30.  Registration is required and can be made by calling the Coeur d'Alene Association of Realtors at 667-0664.

Designed specifically for first-time home buyers, classes are taught throughout the state. Participants who successfully complete Finally Home!® may be eligible for the following incentives:

•  Down payment and closing cost assistance
•  Programs that accept higher debt ratios
•  Using gifted funds at closing 

More than 14,000 students statewide have been educated through the program since its inception in 1999. Approximately 200 classes are offered statewide each year through eight regional training partners.

The Curriculum

Finally Home!® will cover everything from whether you can afford homeownership to information about mortgages, closing costs, budgets and home maintenance. It will address financial issues such as:

•      Can I qualify for a mortgage with bad credit or no credit?
•      How much cash do I need to have on hand for closing?
•      If I can’t buy a house now, how can I prepare myself for a future purchase?

The class will also explain how to shop for a home that is both affordable and appropriate for your lifestyle:

•      How do I choose a REALTOR®?
•      What should I look for in a house?
•      How do I make an offer?

Other important issues that will be addressed are:

•      Accessing affordable mortgage programs
•      Filling out a loan application
•      Ongoing responsibilities of homeownership
•      Credit and budgeting issues
•      Predatory lending

The Idaho Partners for Homebuyer Education, Inc., is a 501(c)(3) created by IHFA and several organizations statewide.

The Idaho Housing and Finance Association is a uniquely created and organized financial institution and administrator of affordable housing resources. In its simplest form, IHFA's mission is to provide funding for affordable housing opportunities in Idaho communities where they are most needed and when it is economically feasible.  It is a self-supporting corporation that must generate all revenue necessary to cover the cost of its operations. It does this by earning fees for work performed and does not use any state-appropriated funds for its operations.

IHFA raises millions of dollars in the national capital markets and forms partnerships with banking and lending institutions throughout the state. It functions as an agent for the U.S. Department of Housing and Urban Development and performs a wide variety of tasks associated with financing, developing or managing affordable housing.

Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS, provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

Janna Rankin Scharf, 208.651.9700  NorthIdahoJanna@gmail.com