IMPORTANT STEPS TO PURCHASING A HOME
Maybe you've been thinking about buying a home. Or maybe you've just heard about our new AHAP down payment assistance program and don't want to miss out on the opportunity. Welcome! This page will help you understand some of the general steps involved in the homebuying process. Here are four key areas to start the process
Complete homebuyer training. To purchase any home from ANDP or to participate in any of our affiliated down payment assistance programs, all homebuyers must complete a HUD-approved homebuyer education course. These courses are more than a requirement, they are extremely beneficial in understanding the homebuying process and how to care for your home after the purchase. This class is most frequently an all day class offered on Saturdays. ANDP is NOT a homebuyer education provider. To find an approved homebuyer agency near you visit our Homebuyer Education page.
Get prequalified for a mortgage. Purchasing one of our homes or participating in any of our affiliated down payment assistance programs requires homebuyers to use one of our approved lenders for their home loan. Start the process by contacting one of these lenders and ask them to pre-qualify you for a mortgage.
Seek down payment assistance. Depending upon your household income and other factors, you may qualify for down payment assistance. There are many programs that could provide you with down payment and closing cost assistance. ANDP is pleased to offer newly renovated homes in two programs that come paired with down payment assistance - the Neighborhood Stabilization Program (NSP) and the HOME/CHDO program. Learn more about these programs here. See a list of homes available in these programs here.
NEW IN 2017! With support from Bank of America Community Home Fund, ANDP is pleased to offer down payment assistance through it's AHAP program. Homebuyers using this program could qualify for up to $30,000 in assistance. Visit our AHAP page for more details.
Work with a real estate professional to help guide you through the process! The process includes finding the home, getting an inspection, getting an appraisal, making an offer, preparing for closing, and meeting the requirements of home buyer assistance programs! You will appreciate having a trained real estate professional to guide you through the process!
From Realtor.com - "What to Consider When Chosing a REALTOR"
In addition to the advice in the article above, we would add two important suggestions:
1. Make sure the real estate professional has a keen understanding of the specific area you seek to live.
2. Make sure the real estate professional has some background in and understanding of affordable housing programs and requirements.