Homebuyer Education

“A more informed buyer makes for a more successful homeowner!”

P7120513An important goal of Buy Springfield Now is the knowledge our participants acquire regarding home buying process. A more informed buyer makes for a more successful homeowner! Therefore, prospecting homebuyers wishing to participate in Buy Springfield Now, and who will be contributing less 20% down payment, are required to successfully complete a HUD or CHAPA-certified homebuyer education program. Homebuyer education is also required when applying for any of the down payment and closing costs assistance programs that may be available. You are considered a first-time homebuyer if you have not owned a home during any of the three previous tax years.

The next step is to contact a housing agency if you’re interested in homeownership and want to learn more. HAPHousing and Springfield Neighborhood Housing Services offer various homebuyer education programs that feature various schedule-combinations and locations throughout the year. Classes may be available in a one or two-day format and may be provided in one eight-hour session or in two, four-hour sessions. Courses are generally conducted on Saturdays, but may be available on weekdays from time to time. No online classes will be available for this program. At least one adult member participating in Buy Springfield Now and/or applying for downpayment assistance must attend all sessions of an approved homebuyer education course. Landlord training and counseling is required for purchases with properties having two or more units. Contact one of the following to register for a session that meets your schedule:

P7120520Classes are structured to provide an in depth overview of the home buying process and include topics such as:

  • A guide to homeownership;
  • Understanding credit and what lenders look for;
  • Obtaining a mortgage and the various types of loan products;
  • Shopping for a home or loan (how to compare);
  • What to expect from a home inspection;
  • The Realtor’s role in the home buying process and;
  • The legal aspects of homeownership and what real estate attorneys do in the closing process.

These topics are led by volunteer guest-presenters of the subjects and courses are often available at no costs.

Participating Lenders