| If you are looking to purchase
your first home, this guide will help you understand what is involved,
from finding the home, evaluating the home, financing the home, qualifying
for a mortgage, negotiating the offer, understanding how credit works and
much more. Here is the table of contents:
HOMEOWNERSHIP: WEIGHING THE BENEFITS AND CHALLENGES
- Benefits and Challenges of Renting
- Benefits and Challenges of Owning a Home
- AM I READY TO BUY A HOME?
- Down Payment
- INTRO TO HOMEBUYER’S ASSISTANCE
- Characteristics of Government Programs
- QUALIFYING FOR A LOAN
- How Much Mortgage Can I Afford
- Other Factors Affecting Mortgage Affordability
HURDLES TO BECOMING A HOMEOWNER
- THE IMPACT OF BUDGETING AND SAVING ON HOMEOWNERSHIP
- How to Set Up a Budget
- Monthly Budget Worksheet
- Debt Payment Worksheet
- Money Control Worksheet
- THE IMPACT OF DEBT ON HOMEOWNERSHIP
- Assessing Monthly Income and Debt
- Costs of Becoming a Homeowner
- Poor or No Credit
- Overcoming Hurdles
UNDERSTANDING CREDIT
- ARE YOU CREDITWORTHY?
- BECOMING CREDITWORTHY
- 10 Steps for Rebuilding a Credit Record
- Getting In Touch With Your Creditors
- Creditor Sample Letter - Partial Payment
- Creditor Sample Letter - No Payment
- UNDERSTANDING THE COST OF CREDIT
- Using Credit
- Count the Cost of Credit
- Cost of Credit Comparison
- Credit Card Comparison Worksheet
- Credit Obligations Worksheet
- UNDERSTANDING CREDIT SCORING
- Credit Repair Sample Letter - Equifax
- Credit Repair Sample Letter - Experian
- Credit Repair Sample Letter - TransUnion
- Credit Dispute Form
- Length of Time Problems Stay on Credit Report
- RESOURCES
FINDING THE HOME THAT IS RIGHT FOR YOUR FAMILY
- BALANCING THE DREAM AND REALITY: SEPARATING NEEDS FROM WANTS
- Needs and Wants Checklist
- Finding Your New Home
- Touring Prospective Homes
- House Hunting Checklist
- Home Evaluation Checklist
- Scoping Out the Sellers
- Negotiating Offers
FINANCING YOUR HOME
- MORTGAGE PRODUCTS
- VA-Guaranteed Loan
- FHA Loans
- HUD 203 (k) Program
- Rural Development
- Rural Development Home Improvement and Repair Loans and Grants
- Conventional Loan
- MORTGAGE APPLICATION CHECKLIST
- PREDATORY LENDING
- Resources
FEDERAL LAWS PROTECTING CONSUMERS
- OVERVIEW OF FEDERAL FAIR HOUSING AND CONSUMER PROTECTION LAWS
- Fair Housing
- Real Estate Settlement Procedures Act
(RESPA)
- Equal Credit Opportunity Act
- Truth In Lending Act
- Fair Credit Billing Act
- Fair Credit Reporting Act
- Fair Debt Collection Act
APPENDIX A - GLOSSARY
- 121 Terms & Definitions You Need
to Know
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