Buying a home can be one of the most confusing and complicated financial transactions of the prospective buyer's life. Home buyer education classes from a HUD-certified housing counselor can help prospective buyers avoid costly mistakes, and can often help the buyer avoid foreclosure or default by providing education about financing, grants and budgeting prior to the purchase. Studies have shown that first-time home buyers who have attended HUD-certified home buyer education classes have a greater ability to handle problems that often occur with homeownership.
All Program applicants must attend a Massachusetts Homeownership Collaborative approved housing counseling agencies approved home buyer education class from a HUD-certified housing counselor prior to receiving written approval for a Program grant. The home buyer education class will cover the following topics, at a minimum: preparing for homeownership; available financing; credit analysis; grant closing; homeownership responsibilities; home maintenance; the impact of refinancing, and grant servicing. The applicant must attend and receive a certificate of completion of a Massachusetts Homeownership Collaborative-accredited first time home buyer course, usually consisting of eight hours of instruction and provide the Program staff with a copy of the certificate prior to close of the home purchase.
Local providers, within the City of Worcester, that meets Program requirements:
NeighborWorks® HomeOwnership Center of Central Massachusetts
Address: 138 Green Street, Suite 4, Worcester, MA 01604
Phone: (508) 791-2170
RCAP Solutions Housing and Consumer Education Center
Address: 12 East Worcester Street, Worcester, MA 01604
Phone: (508) 769-3481