“So much pertinent information crammed into one day! The speakers were all really engaging and knowledgeable.”
Anyone can search the MLS listings for houses for sale, so why take an all-day class just to learn about buying a home?
At PRG’s Home Stretch Homebuyer Workshop, you’ll learn all about the homebuying process and how to make the best decisions for your situation.
With guest speakers who are experts in the industry, a hands-on workbook you can keep, and knowledgeable facilitators, workshops include information on:
- working with lenders
- credit and budgeting
- special loan programs
- working with realtors
- home inspections
- what to expect at a closing
- being a successful homeowner
In addition, PRG workshops meet HUD guidelines and are approved by NSP and Neighborhood LIFT, necessary to qualify for some types of down payment assistance and other programs.
“The class was so interesting and helpful! I wish I would have taken it two months ago before I started the process.”
As the state’s second largest recipient of funds to provide pre-purchase counseling and homebuyer education, PRG helps to turn prospective buyers into home owners and to address the racial home ownership gap. A recent survey of PRG clients tells us more about the impact of our work in these services.
According to the survey, an estimated 300 households of color purchased homes after using PRG’s pre-purchase counseling and homebuyer education services over the past three years. This is important because for most middle-income Americans, their home is their primary asset, and access to home ownership allows households to build wealth.
In Minnesota, where the racial home ownership gap is one of the worst in the nation (the overall home ownership rate is 70%, but for households of color, the rate is 41%), housing counseling and education helps buyers overcome barriers (such as first generation and first time home buyers, buyers in neighborhoods disproportionately affected by the foreclosure crisis) that often represent systemic racial inequities. When combined with the fact that 73% of PRG-developed homes are purchased by households of color, we are making a real dent in the home ownership gap.
If you’ve purchased a home, you know how bumpy the road to home ownership can be, and PRG’s housing-related services help people dreaming of home ownership navigate the complexities of home buying.
If you’ve been dreaming of owning a home, there are lots of reasons to schedule a free appointment for pre-purchase homebuyer counseling.
One of our PRG home ownership advisors can:
- Confidentially review your finances
With the help of an advisor, you will be able to think about your financial goals and what it will take to get there.
- Access your credit report and help you make sense of it
If you do not have a recent credit report, PRG can provide a copy of your FICO report with all three scores ($19.90 per adult). You can also get a copy of your credit report online (without scores) for free at https://www.annualcreditreport.com.
- Look at your monthly income and expenses and help you determine what you can afford
Our advisors will send you a monthly budget worksheet to help you figure out where your money goes in and out.
- Assess whether you qualify for a mortgage
Your advisor will help determine if you qualify for any type of mortgage assistance or other programs that will help you purchase a home. She will also help you avoid predatory lenders.
- Recommend financial coaching if you’re not quite ready for home ownership
If you need, our advisors can facilitate regular, long-term financial coaching (for free) that will help you build wealth and prepare for achieving your financial goals.