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HOME, Inc.’s Homeownership Readiness Assessment and Pre-Purchase Counseling is an individualized
counseling process that enables prospective homeowners to determine if they are ready to purchase a home and develop their personal plan to do so.

Homeownership Readiness Assessment is individualized assistance to explore the purchase of a home and includes:

■Reviewing basic information about your current financial situation
■Obtaining and reviewing your current creditreport from three reporting bureaus
■Determining your ability to qualify for a mortgage at this point in time
■Establishing a housing affordability range for a home purchase price or mortgage limit
■Identifying programs that may assist you in purchasing a home
■Developing a home buying plan outlining steps you can take to qualify for a mortgage
Pre-Purchase Counseling is individualized assistance to help you put your home buying plan into action and includes:
■Assessing your housing needs for property selection
■Creating a budget to meet your financial goals
■Referral and assistance in making application to homeownership programs.
■Identifying the right lending program and making application.
■Reviewing educational materials on topics such as using a realtor, selecting and inspecting a home, financing a home through the mortgage process, preparing to move, and life as a homeowner.
To participate in a Homeownership Readiness Assessment a client must complete a Homeownership
Readiness Questionnaire.

Household income for our program needs to be between 40% and 80% of the area median income. Household income includes all adults residing in the unit. See table below.

Family Size

40% (minimum)

80% (maximum)

1

$20,125

$40,250

2

$23,000

$46,000

3

$25,875

$51,750

4

$28,725

$57,450

5

$31,025

$62,050

6

$33,325

$66,650

7

$35,625

$71,250

8

$37,925

$75,850