YOU WANT TO BUY YOUR OWN HOME BUT DON'T KNOW WHERE TO START?

The Durham Affordable Housing Coalition can help you get started on these 10 steps to buying a home:

1. Register for our free Home Buyer Workshop by calling (919) 683-1185 ext. 41 or Ms. Tilley at ext. 21. Learn all about buying a home and programs to assist first-time homebuyers. (The workshop is required for the City’s first-time homebuyer programs.) Click here to see our workshop schedule.

2. Check your credit records. Free credit counseling, (919) 683-1185. (You can get copies of your credit reports by contacting the following organizations: Equifax (1-800-685-1111 or www.Equifax.com), TransUnion (1-800-888-4213 or www.TransUnion.com) and Experian (1-888-397-3742 or www.Experian.com). You will need a copy from all three-credit agencies.

3. Make an appointment for free home ownership counseling by calling (919) 683-1185 ext. 22 (Angela Coleman). Figure out how much you can borrow and what price home you can afford.

4. Apply for the City's first-time home buyer programs. To apply for the City's downpayment and second mortgage loans to buy your first home, call the City at (919) 560-4000.

General requirements include:

• Can purchase home within the City or County of Durham
• Home buyer must have at least $500.00 to put towards a down payment
• Household income cannot exceed 80% of median family income (see below)

80% of the Raleigh/Durham/Chapel Hill Median Family Income by Family Size

The City also has programs to help Public School Teachers and Police Officers. For more information, call the Durham City Dept. of Housing & Community Development at (919) 560-4000.

5. Find out about affordable homes and housing developments. We have information on developers offering new and renovated homes.

6. Ask your bank or other lender to pre-qualify you for a mortgage loan. Get a list of lenders with affordable mortgage programs at our workshop.

7. Get your own Realtor to help you find and buy a home. We have a list of Realtors familiar with first-time homebuyer programs

8. Find a home and make an offer to buy it.

9. Apply for a mortgage.

10. Buy your home!

COUNSELING PROGRAM

Pre-Purchase Counseling
Individuals who want to purchase for the first time receive pre-purchase education through one-on-one individual counseling sessions. In the counseling sessions the topics addressed include credit issues, mortgage loan products and pre-qualification, and the various steps to homeownership. Contact Angella Coleman at (919) 683-1185 ext 22.

Default/Delinquency Counseling
Mortgagors who become delinquent with their mortgage payments receive assistance through individual counseling sessions. Discuss options such as forbearance plans and the sale of home is reviewed. Community resources and alternatives are also reviewed and discussed. Contact Angella Coleman at (919) 683-1185 ext 22.

Reverse Mortgage/HECM Counseling
Counseling is provided to individuals 62 years of age or older who are interested in converting their home equity into cash and remain in their homes for life. Contact Angella Coleman at 683-1185 ext 22.

Homeownership Workshops
Homeownership workshops are offered in a group setting twice a month (Monday – Wednesday). These workshops include information about the home buying process and include speakers who often play a key role in this process. Angella Coleman facilitates the workshops. Because of limited seating, registration is required for the workshops. To register, please contact Darlene Tilley at (919) 683-1185 ext 21 or the voicemail box at
ext 41. You will be mailed a card informing you of the location for the workshops. Click here to see our workshop schedule.