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
