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Home Buyer Education Curriculum

Session 1 - How do you know if you're ready to buy a home?

1. What are the advantages and disadvantages of renting versus owning a home?
   
2. How do you use money?
   
3. How do you budget to meet your goals?
   
4. How does a lender review an application?
   
5. What are the four “C’s of Credit?

Session 2 - How do you budget and use credit?

1. Do you know your rights under the consumer credit laws?
   
2. Do you understand credit and the reporting of credit?
   
3. How do you solve credit problems?
   
4. When buying a home what types of income can be used.
   
5. What are debts?
   
6. What is a housing debt and debt-to-income ratio?
   
7. How does the lender determine how much you can afford?
   
8. What is your household budget?

Session 3 - How do you shop for a home?

1. What is a home-purchase offer contract?
   
2. What are the types of homes and ownership?
   
3. Who is on your home buying team?
   
4. What types of home protection do you need?
   
5. What is the HUD 1 Settlement Statement?
   
6. What is the HUD Settlement Costs booklet?
   
7. How does the value and condition of your home affect your home purchase?
   
8. What are your housing priorities?

Session 4 - How do you get a mortgage loan?

1. What is a Good Faith Estimate of Closing Costs?
   
2. What is a Truth-in-Lending disclosure?
   
3. What is s Servicing Disclosure Statement?
   
4. What are the types of financing and how can you compare financing?
   
5. What do you need when you make application for a mortgage with a lender?
   
6. What are loan-underwriting requirements?
   
7. What is a promissory note?
   
8. What is a mortgage and what are your responsibilities?
   
9. How do you prepay a mortgage loan?
   
10. What happens if you don’t pay your mortgage?

Session 5 - How do you keep your home and manage your finances?

1. How do you maintain your home?
   
2. How can you conserve energy?
   
3. How do you work with contractors for home improvements?
   
4. How do you review your homeowners insurance?
   
5. How can your home purchase benefit you when filing income taxes?
   
6. How can you avoid the credit trap?

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