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H.O.M.E.Home Ownership
Made Easier
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Program description and objectives
The homebuyer education class explains the home-buying process
to prospective homeowners, especially first time home-buyers. Topics
include: financial preparedness, renting Vs. owning, how much house
you can afford, working with professionals to find an ideal home,
home maintenance and energy management, buyer assistance programs,
mortgages, closing costs and homeowners insurance. This program
was developed for ITV presentation with the help of Community Infrastructure
Focus Teams. The overall objective of this program is to develop
the skills necessary for potential homebuyers to select and finance
a home. In addition, by meeting educational requirements for some
grants and loans the course removes some of the economic barriers
to homeownership for low-to moderate-income participants.
The H.O.M.E. program compliments the Missouri Housing Partners
initiative, which informs consumers about national and statewide
financial incentives for homeownership. It meets the need for information
about the home buying process for low to moderate-income families.
Further, it expands the financial resources of these families by
assisting them in meeting the educational requirements of special
programs targeted to remove the economic barriers of homeownership
for first-time buyers. The long-term outcome of this program is
to increase the homeownership rates in Missouri.
In order to enhance the content of the class and to provide financial
assistance to the program participants, partnerships were formed
with the following agencies to deliver the class: Consumer Credit
Counseling Service-St.Louis; the Missouri Department of Economic
Development; U.S. Department of Housing and Urban Development and
USDA Rural Development Housing Service. In addition, the H.O.M.E.
class has the support of the Missouri Rural Opportunities Council.
Target Audience
Referrals from Missouri Housing Partners (MHP), as well as other potential homebuyers interested in affordable housing are the target audience for this program.
Outcomes/Anticipated Outcomes
- Potential homebuyers acquire skills to purchase and finance a home.
- Participants meet educational requirements to secure secondary market financing and to receive discounts on mortgage insurance.
- Promotion of interagency cooperation addressing housing
problems.
Contacts
Marsha Alexander, Housing & Environmental Design Specialist
(West Central Region)
alexanderm@missouri.edu
816-482-5850
Michael Goldschmidt, AIA CSI,
Resident Instruction Assistant Professor & State Specialist
goldschmidtm@missouri.edu
573-884-0905
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Last update: Thursday, May 14, 2009
