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<br />7/4 23 <br /> <br />PROGRAM EDUCATION <br /> <br />FHI will c::oordinate and run up to three first time homebuyer seminars within a 12 month time frame. <br />These ,seminars will concentrate on providing an essential educational foundation from which qualified <br />program participants can start their home buying process. In addition, the seminars will also focus on the <br />subsidy and MCC program available to qualified employees. The education program is provided by <br />Consumer Credit Counseling Services. a Federally chartered non-profit consumer counseling and <br />education group. The education is usually provided on either a Saturday or over a series of evening <br />seminars. <br /> <br />Homebuyer education covers the following key topics: <br /> <br />m <br /> <br />Deciding to become a home owner <br />Searching for a property <br />Choosing a real estate agent <br />The financial and personal responsibilities of home ownership <br />Financing and qualifying for a home loan <br />Personal financial budgeting and planning <br />First time home buyer financing programs <br />Negotiating the purchase <br />Property insurance <br />Escrow and title procedures <br />Closing the sale <br />Responsibilities of homeownership (economic, personal, and physical) <br />Becoming a community member and neighbor <br /> <br />Material provided in the seminar will include: <br /> <br />A comprehensive booklet written by FannieMae which reviews all aspects of home ownership <br />including a worksheet-exercise that provides extensive exercises on financial budgeting. <br />A simple prequalification worksheet. <br />A CHB and CRA lending program pre-screen application. <br />Materials on closing a real estate transaction and escrow services. <br /> <br />Upon completion of the educational curriculum, the attendant will receive a Certificate of Completion <br />which is mandatory to participate in this program. <br /> <br />Given enough of a demand. FHI will also provided additional evening group seminars focusing <br />specifically on RCFTHB components and structure. <br /> <br />PROGRAM COUNSELING <br /> <br />The program education provides the foundation to begin the extensive process of becoming a <br />homeowner. Once the educational foundation is laid. FHI will provide individual counseling to all qualified <br />program households who wish to become homeowners. <br /> <br />This is an essential element within the program which provides the map for households to reach their <br />destination of ownership. FHI's counseling sessions focus on the following: <br /> <br />Page 2 <br /> <br />'~""T <br />