Worcester Community Housing Resources, Inc.
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Our Success Story

 

Worcester Community Housing Resources, Inc.
11 Pleasant Street, Suite 300
Worcester, MA 01609
Phone: 508-799-0322
Fax: 508-799-7771
© 2005 All rights reserved.

 

This five-part educational series is open to the public for a modest fee, on a monthly basis. Participants become more confident and knowledgeable about finding and buying a home successfully. In addition, the course offers MHFA and other certification. Click here for the Training Schedule.

Frequently Asked Question About Training

Who is a first-time homebuyer (FTHB)?
Anyone who has not owned a home as his or her primary residence within the last three years is considered a first-time homebuyer.

How long is the FTHB course?
Five two-hour sessions usually take place in the evening, once a week, for five weeks.

What is certification?
Certification qualifies income-eligible first-time homebuyers for the MHFA Home Counseling Program, for bank favorable mortgage products with lower rates, and for City programs. Certification helps one to qualify for a better loan and can make the difference in being able to purchase a home.

Certificate holders may qualify for the following programs:

  • MHFA Home Counseling Program
  • HOME funds for rehab
  • City of Worcester Downpayment Assistance (DPA) Program
  • Individual bank programs

Where are the classes held?
Most of our classes are held at the NeighborWorks® HomeOwnership Center of Worcester at 674 Main Street, The Odd Fellows Building, Worcester, or have your employer call (508)791-2170 to schedule a workplace seminar.

You can also register by e-mail at info@hocw.net  Provide your name, address and phone number and information will be forwarded to you.

What subjects are discussed?

Session #1 Real Estate Agent

  • Choosing a broker
  • Buyer's agent
  • Agency disclosure
  • Finding the right home
  • Making an offer and deposit
  • Purchase and Sales Agreement

Session #2 Mortgage Lender

  • Determining affordability
  • Bank application process
  • Loan terms, rates and costs
  • Banking terminology
  • Credit history and rating
  • MA Housing Finance Agency (MHFA), FHA, "soft second" and other programs

Session #3 Home Inspector

  • Why inspection is necessary
  • What services are provided
  • General inspection information
  • Other hazard inspections
  • Choosing a qualified inspector
  • Cost of inspections

Session #4 Closing Attorney

  • Choosing an attorney
  • Costs and fees
  • Legal documents
  • What happens at a closing
  • Lead paint laws

Session #5 Landlord

  • Landlord/tenant information
  • Property management
  • Type of tenancy
  • Lease and rent agreements
  • Tenant's rights
  • Eviction process
  • Small claims court