Home buyer education is a critical tool for the first time home buyer. These classes provide an overview of the home buying process and provide some helpful tips from area real estate agents, lenders, attorneys, home inspectors, insurance agents, and non-profits. Throughout the home buying process, you will have contact with individuals in each of these professions.
The overview provided at your home buyer education course will give you a sense of how each profession contributes to the process of buying a home. You may also meet a professional that you would like to work with when you are assembling your team of professionals to help you purchase your home. Home buyer education courses are provided at low to no cost. A typical course costs $50 or less per household. Some courses are held over a few week period, others are offered in a one day seminar format. Non-profits involved in Buy Holyoke Now, real estate agents, and lenders can help you find a course.We believe that educated home buyers are more successful homeowners. Part of sustainable homeownership is understanding the benefits and responsibilities of homeownership. Some lenders or loan programs require first time home buyer course completion. Sign up for a course and learn more about homebuying and homeownership!
Holyoke Housing Authority
475 Maple St # 1 Holyoke, MA 01040
Homeownership Education Workshop Series
Helping residents realize the dream of owning their own home requires education and intensive one-on-one counseling. To provide this type of assistance the Authority has staffed a Homeownership Case Manager to assist those residents who are ready to make the move to homeownership.
To prepare residents for homeownership, the Authority is pleased to be able to provide, through a grant from the City’s Community Development Block Grant program, first-time homebuyer educational workshop courses.
The purpose of the Holyoke Housing Authority’s homebuyer counseling program is to educate and counsel prospective homebuyers to make informed, voluntary decisions regarding the homebuying process. The series covers such topics as: finding the right mortgage product, working with a Realtor, fair housing, home inspection and budgeting.
The three part educational series offered by the Authority has earned the Massachusetts Homeownership Collaborative “Collaborative Seal of Approval”. The Massachusetts Homeownership Collaborative, a collaboration of non-profit homebuyer counseling agencies, lenders, real estate professionals, government officials and other key players in the homeownership industry in Massachusetts, was formed to recognize Massachusetts homebuyer counseling agencies that meet or exceed a minimum standard in providing effective pre-purchase, group homebuyer counseling and education to low and moderate income, first-time homebuyers.
322 Main Street Springfield, MA 01105
PRE-PURCHASE WORKSHOPS: HAPHousing’s educational course provides a comprehensive overview of all aspects of purchasing a first home. Participants receive a Certificate of Completion that is necessary to access several special mortgage products. The course has received a Seal of Approval from the Massachusetts Homeownership Collaborative, has been approved by MassHousing, Massachusetts Housing Partnership and meets the standards of the Housing Partnership Network. It is available in Spanish and English. Please see our website, www.haphousing.org, for dates and locations or call 413-233-1616 to register.
HOMEBUYER CLUB: To meet the needs of those who face substantial barriers to homeownership such as poor credit history, the Club provides more intensive services through both group and individual sessions for a year or more. The Club focuses on credit repair, financial literacy, budgeting and planning, the pros and cons of homeownership, etc. Please contact Stephanie Ouellette at 413-233-1612 or firstname.lastname@example.org for more information.
FINANCIAL FITNESS WORKSHOPS: Workshops cover getting and staying out of debt, basic money management, household budgeting, using credit appropriately, credit repair, establishing a banking relationship, maximizing income, creating wealth, insurance, identity theft, and avoiding predatory lending. Please see our website, www.haphousing.org, for dates and locations or call 413-233-1616.
INDIVIDUAL HOMEBUYER COUNSELING: Individual counseling is available to all and may include loan document review. It can help first-time homebuyers access various affordable financing options and special programs such as MassHousing loans, the Massachusetts Soft Second Loan Program, downpayment and closing cost assistance, and affordable bank financing. Individuals are also assisted in qualifying for purchase of properties from FDIC, Fannie Mae, Freddie Mac, USDA Rural Development, and the FHA 203K program. Please call 413-233-1616 for more information.
ACCESS TO THE AMERICAN DREAM DOWNPAYMENT INITIATIVE: HAPHousing administers the American Dream Downpayment Initiative Program (ADDI) for those who wish to buy in the City of Holyoke. ADDI provides direct financial assistance to help eligible homebuyers cover downpayment and closing costs. Please see our web site, www.haphousing.org for a fact sheet with eligibility requirements. Please call Marta Alvarez at 413-233-1615 for more information.
Springfield Neighborhood Housing Services
111 Wilbraham Road
Springfield, MA 01109
PH: (413) 739-4737
FX: (413) 739-8070
Established in 1978, Springfield Neighborhood Housing Services, Inc. (Springfield NHS) is a 501(c)(3) non-profit corporation that transforms families and revitalizes communities through homeownership development, recycling of blighted properties and resident empowerment. This is done successfully through the following Full-Cycle Lending services provided to families in the city and region:
- Credit counseling and home ownership education for potential buyers;
- Technical assistance to borrowers from loan intake to closing;
- Flexible financing products that include property rehabilitation;
- Technical assistance with property inspections and rehabilitation services; and
- Post-purchase services that include foreclosure intervention.
Springfield NHS is a charter member of NeighborWorks® America, a national network of more than 240 community development and affordable housing organizations. In addition, Springfield NHS is a Community Development Financial Institution (CDFI) certified by the United States Department of the Treasury. The Homeownership Center of Springfield NHS provides a full array of mortgage products to potential homebuyers located anywhere within the Commonwealth. Loan products include those for purchase, refinance and/or rehabilitation. Springfield NHS has helped hundreds of families achieve their dreams of sustainable homeownership. As part of its strategy to stabilize and stimulate development within its community, Springfield NHS acquires blighted and abandoned properties. It then renovates existing houses or builds new houses on vacant lots for sale to families. Wherever a family may be along the continuum of homeownership, Springfield NHS has products and services that add value.