This four-module seminar details steps in selecting, purchasing, financing, and maintaining a home, especially for low to moderate income families. The program's ultimate goal is to offer a more informed approach to homeownership. Upon completion of the program, participants may apply for a FHA, VA, or conventional home mortgage loan at the bank of their choice with special underwriting guidelines which could allow for lower disposable income requirements and a lower downpayment. FHA loan applicants can also receive a discount on their mortgage insurance premium.
Downpayment assistance is available.
Scheduling is based on demand. All registered participants will be informed of the upcoming class dates at least 2 weeks in advance. To assist those homeowners who are behind on their mortgage payments, the KAUL offers default counseling leading to forbearance agreements and repayment plans with the mortgage company. The KAUL is a HUD-certified housing counseling agency.