Cumberland Neighborhood Housing Services, Inc.
Homebuyer Education
Curriculum
Session 1 How do you know you are ready to buy a home?
 | What are the advantages and disadvantages of renting vs. owning? |
| How do you use money? |
| How do I budget to meet my goals? |
| How does a lender review an application? |
| What are the four "C"s of Credit? |
Session 2 How do you budget and use credit?
| Do you know your rights under the consumer credit laws? |
| Do you understand credit and the reporting of credit? |
| How do you solve credit problems? |
| What types of income may be used when buying a home? |
| What are debts? |
| What is a housing debt and debt-to-income ratio? |
| How does the lender determine how much you can afford? |
| What is your household budget? |
Session 3 How do you shop for a home?
| What is a home purchase offer contract? |
| What are the types of homes and ownership? |
| Who is on your home buying team? |
| What types of home protection do I need? |
| What is the HUD 1 Settlement Statement? |
| What is the HUD Settlement Costs booklet? |
| How does the value and condition of my home effect my home purchase? |
| What are your housing priorities? |
Session 4 How do you get a mortgage loan?
| What is a Good Faith Estimate of Closing Costs? |
| What is a Truth-in-Lending disclosure? |
| What is s Servicing Disclosure Statement? |
| What are the types of financing and how can you compare financing? |
| What do you need when you make application for a mortgage with a lender? |
| What are loan underwriting requirements? |
| What is a promissory note? |
| What is a mortgage and what are your responsibilities? |
| How do you prepay a mortgage loan? |
| What happens if you don’t pay your mortgage? |
Session 5 How do you keep your home and manage your finances?
| How do you maintain your home? |
| How can you conserve energy? |
| How do you work with contractors for home improvements? |
| How do you review your homeowners insurance? |
| How can your home purchase benefit you when filing income taxes? |
| How can I avoid the credit trap? |