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Village Course for First-Time Homebuyers

The free educational course for first-time home buyers offered by the Village Family Service Center consists of two 4-hour classes and one independent financial counseling session. The classes are offered monthly.

Call the Village Financial Resource Center at 235-3328 to register or if you have any questions. Class size is limited, so you need to register in advance to guarantee a spot in the class.

Session 1: Pre-purchase and Purchasing a Home

  • Pre-purchase
  • Renting v. owning
  • Costs of homeownership
  • Budgeting
  • Working with a realtor and real estate forms
  • Choosing a home and making an offer
  • New construction and remodeling
  • How to choose a contractor
  • Costs associated with repairs
  • Credit Bureau Reports—how to read them, how to dispute incorrect information, how long information stays on the report 

Session 2: Obtaining a Mortgage and Post-Purchase 

  • Down payment assistance programs—City of Fargo, City of Moorhead, and others
  • How much house can you afford?
  • Working with a lender, what to bring to an initial meeting, which credit issues can you work with
  • Conventional v. FHA mortgage
  • Closing process and title insurance
  • Home Inspections—importance of having one done, how to choose an inspector, costs, what they look for during an inspection
  • Home maintenance—doing common repairs around the house, maintenance with each season
  • Foreclosure prevention