The workshop will be attended by other applicants with their own set of questions and you should come away with the feeling that will make you feel comfortable with the journey you are about to embark on. Don't wait to attend. These workshops are only given on the first Wednesday of each month and you don't want to get into a situation where this requirement holds up or destroys your purchase. Even if you can't purchase a home at this time you wi 'II at least have the knowledge you need when you do finally go through the process. It is better to get all the information beforehand rather than after to avoid needless mistakes.
Funds are available until they run out for the year.
As the program has gained popularity the funds have diminished quicker. We receive our funding in July and last year we ran out of funding in November. Funds are not committed until we receive from an applicant that has received preliminary approval, a copy of the buy-sell and a good faith estimate. At that time we inspect the property and issue an authorization for the lender to proceed. This commits the funds.