Navigating Homeownership: A Comprehensive Guide To The Homebuying Process

Embark on the exciting journey of homeownership with our workshop on the Homebuying Process at the Financial Empowerment Center. This session is designed to provide you with the knowledge and tools necessary to make informed decisions during every stage of the homebuying process. Join us to demystify y the complexities and ensure a smooth path to achieving your homeownership goals.

Date, Time, and Language

ENGLISH - May 14th, 10 a.m. & 6 p.m.

SPANISH - May 28th, 10 a.m. & 6 p.m.

Location

Aurora Financial Empowerment Center, 712 S. River St. Aurora, IL 60506

Learning Outcomes

1. First Steps to Buy a House and Things To Know Beforehand:​

• Assessing Financial Readiness: Understand the key financial factors involved in homeownership, including credit scores, debt-to-income ratios, and budgeting for mortgage payments

• Credit Management: Learn strategies to improve and maintain a good credit score and understand the impact of credit on mortgage eligibility and interest rates

• Budgeting for Homeownership: Develop a realistic budget that includes mortgage payments, property taxes, insurance, and maintenance costs

• Loan Options: Gain knowledge about different types of mortgage loans, interest rates, and repayment terms, and how they impact over affordability

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2. Home Buying Team:​

• Understand the roles of key professionals in the home-buying process, including real estate agents, attorneys, and financial advisors

• Role of Real Estate Professionals: Understand the responsibilities of real estate agents, brokers, attorneys, financial advisors, and other professionals involved in the home-buying process

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3. Grants and Down Payment Assistance​

• Importance of Down Payments: Understand the role of down payments in the home-buying process and how they affect overall affordability

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This workshop is your comprehensive guide to navigating the homebuying process. Whether you're a first-time homebuyer or looking to refine your understanding of the process, join us and empower yourself with the knowledge to make confident decisions on your path to homeownership.