Attend individual budget counseling Make appointment with Home Buyer Counselor to obtain mortgage loan pre-approval from lender consortium member. Make application with other housing agencies for additional funding. Find possible homes for purchase. Narrow list to the house you want and notify Home Buyer Assistance Counselor. Counselor will assist in research about the properties assessed, fair market and appraised value to determine purchase price.
Buyer makes offer to purchase with program contingencies.
Offer is accepted. Rehab staff inspects house for prospective buyer and makes list of work to be done. Buyer makes the loan application and lender reviews application and credit report, appraises home and commits loan. Home Buyer Assistance Counselor and Buyer closes purchase at bank. Final Inspection upon completion of all rehabilitation work.