Steps to homeownership
Interest, prequalification and education
An interested homebuyer talks with the Homeownership Program Manager, who determines buyer's mortgage ready status in one 15-minute phone call. The Manager refers the homebuyer to credit counseling/education, and reviews floorplans and other information on BHC homes.
Mortgage and grant applications
The homebuyer and BHC Manager assemble mortgage papers, continue housing counseling, and develop a mortgage payment plan. Buyer is prequalified by an approved lender for the mortgage, grant, or secondary financing.
Home selection and approvals
The homebuyer signs a contract, agreeing to the proposed sales price and mortgage financing, and BHC reviews and approves the paperwork. BHC manager and homebuyer follow up on grants and attorney contract.
Inspection and closing
Home inspection, walkthrough, and loan closing.
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