Step 2: Counseling
Homebuyer Services is a program of The Housing Partnership, Inc. (THP) that is designed to prepare homebuyers across the St. Louis region so they can have the knowledge, skills, and connections to become educated and responsible homeowners in long-term affordable housing.
The Homebuyer Services program covers three main areas:
1. Education on the homebuying process that is achieved through homebuyer orientations and an online homebuyer education course
2. One-on-one counseling sessions to help households achieve their goals
3. Down payment & closing cost assistance for eligible homebuyers purchasing in select jurisdictions
Step 2: Counseling is the next step in the process towards homeownership. Once you complete all the items in Step 1, reach out to schedule a one-on-one counseling session with us, where we’ll work with your household to help you achieve your goals.
The Steps to Homeownership
9. Enroll in a FREE Homebuyer Orientation
10. Submit intake packet with supporting documentation so we can determine eligibility for down payment/closing cost assistance
11. Complete online homebuyer education class. Fee is $115.
12. Attend one-on-one counseling sessions
13. Work with a mortgage lender to receive loan approval
14. Work with a real estate agent to find the right home for you
15. Comply with all program requirements, building inspections, and permits
16. Attend closing. You are now a homeowner!
Key Elements in a One-on-One Counseling Session
• Includes at least one meeting and can occur periodically before purchasing
• Answers the question: What steps do you need to take so you can purchase a home?
• Provide knowledge & confidence during & after the homebuying process
• Assist with long-term goals & strategies for success
• Connect potential homebuyers to affordable loan products & possible down payment/closing cost assistance
During the counseling session, we’ll work with you to:
• Review individual credit and savings situation
• Determine affordability based on ratios of income and debt
• Develop a spending plan (aka budget) & find ways to save, if appropriate
• At the end: Create an action plan (if needed) to work towards goals of homeownership