Buying a home can be stressful but it doesn’t have to be!
Home Buyer Education (HBE)
Are you interested in buying a home but are not sure where to start, how much you can afford or whom to talk to first?! Start with us and take our Home Buyer Education class!
Our class teaches you everything you need to know to become a successful homeowner through topics such as:
– Understanding credit
– Working with realtors
– Shopping for a loan
– Learning to maintain a home, etc.
The Home Buyer Education Package includes the HUD-approved 8-Hour Home Buyer Education class and 1-hour of one-on-one Financial Coaching *To be scheduled after taking the class.*
Home Buyer Education is required for different down payment assistance programs like the ones listed below and the First Home Club. It’s also often required for certain mortgage products, so don’t wait, let’s get the ball rolling today!
Down Payment Assistance
The HomeOwnershipCenter has been a long-standing partner with SONYMA to help promote and educate customers about their affordable mortgage products with low down payment requirements and down payment assistance. To learn more about SONYMA and where to find a participating lender, please call the HomeOwnershipCenter at (315) 724-4197 or visit www.nyhomes.org to learn more.
We offer four different down payment assistance options.
City of Utica Down Payment Assistance
This down payment assistance grant through the HomeOwnershipCenter is a fully forgivable loan for up to $20,500! You must purchase your home within the target area.
West Utica Down Payment Assistance
This down payment assistance grant through the HomeOwnershipCenter is a fully forgivable loan for $6,500! You must purchase your home within the target area.
Oneida & Madison County Down Payment Assistance
This down payment assistance and rehabilitation grant through the HomeOwnershipCenter is a fully forgivable loan of $24,750. 51% of the grant must be used for rehabilitation ($14,750) and 49% of the grant can be used for down payment and/or closing costs ($10,000).
First Home Club
The HomeOwnershipCenter partners with several local banks to offer a matched savings program for home buyers looking to buy in New York State and are in need of down payment and/or closing cost assistance.
The First Home Club* (FHC) matches $4.00 for every $1.00 you deposit – up to a maximum of $7,500. There are various savings plans ranging from 10-24 months long.
“Buying a home is a big decision and even a little scary to be honest. My wife and I knew that we wanted to buy our own home, but we didn’t have the slightest idea of how to get there. From the beginning, The HomeOwnershipCenter was there for us.
It started with their home-buying education class. This was critical to determining how much money we needed to save, how long it was going to take us and specific knowledge to making good home-buying decisions. They even helped us identify programs that would provide funding. These programs went a long way in helping us save for the large down-payment required to buy a home.
After the education class, The HomeOwnershipCenter continued to be at our side. They helped us evaluate our credit scores and look for areas of improvement. This helped us get the lowest interest rate possible and saved us thousands of dollars over the life of our mortgage. They even went so far to direct us to different local banks in order to get the best loan product to meet our personal and financial needs.
Now that we have purchased our first home, The HomeOwnershipCenter has continued to grow with us. They have offered us a number of workshops on various topics about owning a home and managing our finances. The HomeOwnershipCenter made the process of buying a home much easier than if we went into it alone and essentially at no cost to us. My wife and I couldn’t imagine what it would have been like without them. The HomeOwnershipCenter truly offers a life-time friendship. From both my wife and I, we would like to extend thanks to the great staff at the HomeOwnershipCenter.”
—Kevin and Dollysa Prosser, Marcy, NY
Creating a sound financial plan, setting and achieving financial goals and making wise consumer decisions all start the process for sustainable homeownership.
Our Financial Coaches will work with each customer to develop a personalized action plan and budget based on their personal Financial Goal. As part of the Home Buyer Education bundle, our goal is to set you up for a successful home buying process. Know how much you can really afford and become a much more prepared home buyer with our help.