A Homeownership Workshop – Mandatory for DHCD Approved Down Payment Assistance Applicants. This workshop also satisfies lender eligibility requirements.
This 6-8 hour workshop is mandatory for District residents that have received a Notice of Eligibility from the Greater Washington Urban League to participate in Department of Housing and Community Development down payment and/or closing cost program. The Homeownership Training is designed to provide qualified, first-time homebuyers in the District of Columbia with the knowledge and skills to successfully purchase and maintain a home in the District of Columbia. Qualified participants in the Home Purchase Assistance Program (HPAP), Employer Assisted Housing Program (EAHP), Negotiated Employer Assisted Housing Program (NEAHP), and 203 (k)Streamline Rehabilitation Program are required to complete the full course of training in order to receive funds and full program support. The Homeownership Training Program consists of two parts, both taught by HUD approved housing counseling agencies that are DHCD approved Community Based Organizations.
Lydia’s House First Time Homebuyer workshops provides an orientation and overview of the home purchase process and resources available to assist participants in establishing and reaching their housing goal. The First Time Homebuyer Workshops consists of 6 Modules:
Module 1: Budgeting for your home purchase – stresses the importance of budgeting before and after the home purchase;
Module II: Shopping for your home purchase -- provides tips on how to locate your home and the advantages of working with a real estate agent. This module also outlines the steps involved in negotiating the price of the potential new home by explaining the purchase contract, offer and contingencies.
Module III: Shopping for a Lender – focuses on how to select a lender, find the best loan for your purchase and applying for a loan. This module also explains how qualifying criteria are evaluated by the lender and discusses Fair Housing Laws and Real Estate Settlement Procedures Act (RESPA) requirements.
Module IV: Closing – covers what is involved in the final step of the home buying process – closing. This module also details out-of-pocket costs and reviews the HUD-1 settlement statement and other closing documents.
Module V: -- How to care for your home after closing -- highlights additional responsibilities associated with homeownership and provides tips on performing periodic inspections and home maintenance to avoid costly repairs in the future.
Module VI: Provides orientation of District of Columbia Government Housing Assistance Programs available to low and moderate income households to include: Home Purchase Assistance Program (HPAP); Employee Purchase Assisted Housing Program (EPAP); Negotiated Employee Purchase Assistance Home Purchase Program (NEPAP; Single Family Residential Rehabilitation Program (SFRRP); Home Purchase Rehabilitation Pilot Program (HPRPP); Inclusionary Zoning Affordable Housing Program (IZA).