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Frequently Asked Questions

Q. Can you help me if I’ve owned a home in the past?

A. Yes. We provide assistance to everyone who wishes to purchase a home or wants to be educated about the purchase process.

 

Q. Are there any income limits to your services?

A. No. The Homebuyer Education Class is open to everyone, regardless of income.

 

Q. How much do I have to pay?

A. Class fee is $85.00 prior to class and $100.00 at class. We recommend that you sign up for the class ahead of time to make sure you have a spot in the class. Each class is capped at 15 families or approximately 30 people.

 

Q. Do I make enough money to qualify for a mortgage?

A. Our Homebuyer Education class and counseling will cover mortgage qualification as well as planning to address barriers to getting a mortgage (if applicable). For those with low income, it can be possible to buy a home. However, some low income families may need assistance programs in order to purchase a home. We will go over different options when you meet with us one on one with a counselor.

 

Q. If I have a lot of debt will this affect how much I can borrow?

A. Yes. One of the biggest obstacles facing many home buyers is too much debt. Your monthly debt is taken into consideration when a lender determines the mortgage amount for which you qualify. Our counselors will show you how to determine how much debt is too much and, if necessary, help you develop a debt reduction plan along with a budget.

 

Q. Can you fix my credit for me?

A. No, only you can improve your credit. However, a counselor can help you through the process. Habits that improve a credit score is discussed in the Homebuyer Education Classes. Counselors will help you apply the knowledge from class to your own situation.

 

Q. How do I find out more about your program?

A. You can call 1-800-234-0560 or email homeownership@ruraledge.org or read information on our website.

 

Q. Is there a benefit to receiving a Homebuyer Education certificate (issued after all classes are completed)?

A. Besides the value of the information received during class, the certificate of completion also qualifies you for great incentives from our local lenders.

 

Q. How often are your classes?

A. We offer them once a month on a Saturday from 8:30 am to 4:30 pm. We have two different locations that we offer the class. We offer a total of 8 classes throughout the year at the Public Safety Building, 316 Main Street in Lyndonville and we also offer 3 classes at the Emory Hebard State Office Building located at 100 Main Street in Newport. Click here for a class schedule.

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