FINANCIAL MANAGEMENT
MODULE 1: Basics of home buying and financing, budgeting, and credit scores, and identifying financial resources available.
This module will help the Homebuyer(s) understand the basics of home financing, budgeting, credit scores, and mortgage terminology. The Homebuyer(s) will complete the First-time Homebuyer course for loan application within three months of acceptance into homeownership program.
Mentor and Homebuyer(s):
Discuss what they learned during the First-time Homebuyer class.
Discuss how traditional mortgages work and how Habitat/MBOH loans are different.
Discuss Homebuyer(s) financial challenges and goals.
Mentor asks questions to confirm understanding.
RESOURCES
First-time Homebuyer Class (NeighborWorks Montana)
Glossary of Homebuying Terms (Fannie Mae)