Family Education

One of the criteria for Habitat home ownership is the family's diligence in taking courses in financing. The valuable information and training gained in this course help families prepare for the responsibilities and challenges of owning and maintaining their own homes.

Our Habitat partner families attend classes at Neighborhood Housing Services (NHS) of the Southwest. It provides families with the tools they need to strengthen their money management and financial planning skills. Topics include goal setting, employment considerations, the importance of positive banking relationships, understanding credit, cash flow management, good tenant skills, insurance information, their role as a homeowner, taxes, investments, retirement, and estate planning.

Financial Fitness

In this class given by Neighborhood Housing Services of the Southwest, our partner families learn how to "get their money in shape". The topics that are covered include:

• What is debt?
• How to avoid or get out of financial trouble
• Reducing debt
• Family budget and financial planning
• Bank accounts and ATMs
• Spending (and purchasing) Habits - The
  good & the bad
• Understanding and repairing credit
• Purchasing a home
• Investing and saving for retirement
• Planning for your family's financial future
  

First-Time Homebuyer's Education

The topics covered in this class include:

• Pros and cons of renting vs. owning
• How much can you pay for a home?
• How do lenders decide how much to lend?
• Home budgeting
• Credit ratings and what that means
• What is a mortgage and who makes mortgage loans?
• Predatory lending
• A home as an asset builder
• Are you ready to buy a home?
  

Pre-Closure

Family Services reviews the financing package Habitat offers for the family. Families will learn different financing terminology that will assist them in understanding what happens at the closing. Families will be provided with detailed information regarding the mortgage structure and all of the financing entities involved. Special time will be taken to explain any regulation or restrictions that apply to the mortgages involved in the purchase of their home.