| Do you have questions about The Homeownership Center and how it can help you? Read the frequently asked questions below to find your answers. |  |
Why should I come to The Homeownership Center? The center offers members the tools and knowledge they need to become informed consumers and successful home buyers. An 8 hour Homebuyer’s Education course provides and overview of the home buying process and what lenders expect. Counselors help members address their obstacles to home ownership. The Center continues to provide educational opportunities and counseling after the purchase to ensure your success as a home owner. back to top
What is the importance of meeting with a Housing Counselor? A certified Housing Counselor can help you and your family to determine whether or not you are ready to buy a home. Housing Counselors specialize in helping families and individuals to create a financial plan and determine obstacles that could prevent you from buying a home. back to top
What are some obstacles that could prevent me from buying a home ? Financial Management or use of credit. If you’re finding it difficult to create a workable budget or you know that you’ve had problems maintaining your credit in the past few years. - Lack of Savings
- Unstable Work History
- Unstable Rental History
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Can you help me if I’ve owned a home in the past? Yes, we provide assistance to everyone who wishes to purchase a home. And we offer many services for those who already own a home. top...
Can you fix my credit for me? No, only you can repair your credit. However, the center can help you through the process. Understanding and taking responsibility for your credit, is discussed in all of our classes. Counselors will help you apply the knowledge to your own situation. top...
Can The Homeownership Center give me a loan or work as my real estate agent? No. We are a non profit agency whose sole function is to educate consumers about homeownership. We work with you throughout the entire process, and provide you with the knowledge to help you find the right mortgage lender and real estate agent for you. top...
Do I have to pay for services? There is a $50 fee, if you are less than 80% of HUD’s median income guidelines. If are above the HUD guidelines, the fee is $100. There is also a small fee for each credit report. This entitles our members access to individual counseling and all educational classes. All fees are per household, not per individual. top...
How do I get started? Contact our office at info@nthcinc.org or 214.946.3500. top...
Why should I buy, instead of rent? A home is an investment. When you rent, you write your monthly check and that money is gone forever. But when you own your home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes. This will save you a lot each year, because the interest you pay will make up most of your monthly payment for most of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner. In addition, the value of your home may go up over the years. Finally, you'll enjoy having something that's all yours - a home where your own personal style will tell the world who you are. top...
Can I become a homebuyer even if I have I've had bad credit, and don't have much for a down-payment? You may be a good candidate for one of the federal mortgage programs. Start by contacting (NTHC) North Texas Housing Coalition to attend the 8hr Homebuyer’s course. By attending the class you will receive a certificate that will allow you to apply for down payment assistance money. top...
I am worried about foreclosure. Where can I turn for advice? What will it cost? An experienced housing counselor can help you review your personal financial situation and plan for the future. Best of all, you do not need to pay a private company for counseling. Contact a HUD- approved Housing Counselor for free counseling services available in both English and Spanish. HUD-approved credit counselors who can guide you through your options. top...
My house has been foreclosed. Is there anything I can do to get it back? If your home has already been foreclosed, your ability to regain your home may vary depending on the state in which your home is located. IF your home is in the state of Texas, you have no options to regain your property. If you have been contacted by an eviction attorney, please reach out to the attorney as soon as possible to let them know you wish to regain your home. Otherwise, if the property has been listed for sale, contact the real estate agent who is handling the listing. If you are unable to contact the eviction attorney or listing agent. top...
How does coaching work? What can I expect from a personal coach?
We get to know you personally, sometimes by asking tough questions to get to the heart of your money issues. We address all the practical issues of how you manage your money, such as balancing your checkbook, reconciling bank statements, developing a budget, repaying your debt in a more effective manner, learning how to save for the future, paying cash for an automobile, etc. Working together we can identify your unique needs and desires, develop a personalized action plan to point you in the right direction and give you confidence as you work your plan, help you clarify and focus on your vision for your future, help you to live your life financially worry free, and help you enjoy more time spent with family and friends. top...
How do I know if I need a financial coach?
Financial coaching is the most hands-on service we offer. Our coaches will help you develop and implement a plan specific to your unique situation. You may be facing a crisis, such as bankruptcy, foreclosure or harassing creditors. Or maybe you need help building wealth or starting your small business. Even if you just have some general questions about money management, financial coaching could be right for you. Our coaches are trained to handle a wide variety of situations. They will offer detailed advice and a specific plan to make your money work for you! top... |