As regular readers of the GA First Time Home Buyer blog know, attendance at some form of home buying class is required in order to obtain Georgia down payment assistance. Those obtaining Georgia Neighborhood Stabilization Program (NSP) funds must attend an eight-hour class, six of those in a public setting and an additional two hour personal meeting with a HUD-Certified Affordable Housing Counselor. Shortly after attending the class, borrowers looking to buy in Gwinnett County will then meet with Gwinnett county down payment assistance administrators to ensure that their credit and documentation is in order. On the surface, it may seem that there's a lot involved in obtaining Georgia down payment assistance, but there's also a lot of money involved, up to $25,000 in an interest and monthly payment free loan to help the credit-eiligible GA First Time Home Buyer buy their first Metro Atlanta Homes. Currently, those who have would do not meet the description of a GA First Time Home Buyer may now obtain some form of Georgia down payment assistance.
A list of topics covered in most of the HUD-certified home buying classes follow this post. If you or someone you know is considering puchasing one of the many Metro Atlanta Homes priced up to $300K, please call for more information on home buying classes, Georgia Down Payment Assistance Programs and more.
Solomon Greene
REALTOR® / HUD-Certified Affordable Housing Counselor - Keller Williams Realty Atlanta Partners
(678) 775-2677
Homeownership Rewards and Responsibilities
- Rewards
- Maintenance
- Working with the Homeowner’s Association
- Responsibly transitioning out of home ownership
Budgeting and Money:
- Types of budgets
- Creating a realistic budget
- Tracking spending
- Housing expenses
- Importance of savings and debt reduction
Working with Credit
- Accessing your credit reports and scores
- Loan Approval barriers
- Error correction
- Alternative credit
Mortgage Loan Process from Application to Closing
- Mortgage loan types
- Required documentation, procedures and cooperation
- Preapproval
- Underwriting
- Commitment letter
Georgia Down Payment Assistance Programs
- Grants
- Soft-second mortgages
- Individual Development Accounts
- Housing Choice
Fair Housing
- Defined
- Prohibited actions
- Persons covered
Georgia Fair Lending Act
- Predatory lending defined
- Practices covered and requirements
- Enforcement
Working with Industry Professionals
- Real estate agents
- Appraisers
- Inspectors
- Insurance
Closing
- Types of closings
- Closing procedure
- Important closing documents
One-on-one Counseling
- Evaluating one’s ability to afford a home at a given time
- Action steps
- Where to go for help
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