Navigating the homebuying process — and all of the lingo, steps and actors that come with it — may be confusing and overwhelming.
Classes can help. Really.
Any potential buyer’s first step should be to find a local housing counseling agency, said Danielle Matthews, director of homeownership services at Neighborhood Housing Services of Chicago.
“Typically, people go straight to a realtor or a loan officer when they’re ready to buy,” Matthews said. “That’s kind of like starting in the middle as opposed to starting up front with a housing counseling agency that will help them get prepared, and then hand them off to a loan officer and then eventually a real estate agent when they have that strong buying profile.”
The U.S. Department of Housing and Urban Development provides a list of approved housing counseling agencies, where certified housing counselors can help potential buyers maneuver each part of their journey, from pre-purchase and home buying programs to closing and post-purchase costs.
Matthews leads NHS’s HUD-certified homebuyer education courses, which cover budgeting, credit, inspections and down payment assistance programs. The organization also provides financial literacy and foreclosure prevention programming and one-on-one guidance.
Connecting with housing counseling and understanding the process of becoming a homeowner is crucial to success, she said.
“Our goal at the organization is not only to create a homebuyer, it’s really more around creating a sustainable homeowner. That’s how we want to impact the buyer — making sure that we’re delivering a level of education to them that teaches them not just to purchase the home, but to keep the home,” Matthews said.
“Getting that person in housing counseling is step one, so that we can dismiss the myths around buying and put in a plan of action to help start the process.”
NHS is just one of many organizations that can provide counseling to potential home buyers on the West Side. Some, like those at NHS, are even offered online. Others that can help include: