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.)  To register on-line, please go to www.info@dahc.org.  Be sure to include your name, address, phone number and whether you are signing up for the morning or evening workshops. 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. 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

Below is a list of some of the programs we offer:  Homebuyer Education Workshops, Pre-Purchase Counseling, Delinquency and Foreclosure Counseling and Reverse Mortgage/HECM Counseling.  All counseling services will be conducted by a certified counselor one-on-one.

All counseling sessions are by appointment only! Be sure to come at least 20 minutes early for your appointment and give at least 24 hour notice if you need to cancel!

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.  If you would like to schedule an appointment, please complete the Pre-Purchase Application Package then call (919) 683-1185 to schedule an appointment. Click here to download the Pre-Purchase Application Package.

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. If you would like to schedule an appointment, please complete the Default and Foreclosure Application Package then call (919) 683-1185 to schedule an appointment.  Click here to download the Default and Foreclosure Application Package.

Reverse Mortgage/HECM Counseling
Homeowners over 62 are eligible for this program if they have equity in their home or the mortgage has been almost paid off.  You are allowed to tap into the equity of your house.  The program is based on your age and the appraisal value of your home.  If you would like to schedule an appointment, please call (919) 683-1185 to schedule an appointment.  Please bring one of the following for identification:

*NC Drivers License       *Birth Certificate        *NC Identification Card       *Passport