Take me home
A sign for a Windermere model home open house.
What are a homebuyer’s responsibilities? What should homebuyers look for in a home? How do home offers work?
What types of loans are available? What is the closing process like?
What should homebuyers expect for a home inspection?
Those are just some of the main questions covered in homebuyer education classes.
For those dreaming of owning their own home, starting early is something the Idaho Housing and Finance Association always advises.
Heather Bowman oversees the Finally Home! Homebuyer Education program for the Housing and Finance Association and said the course is there to provide resources to start the process, as well as for down the road when a homebuyer has become a homeowner.
“The overall goal is to provide first-time homebuyers with a roadmap to the purchase process and we see education as the key to sending first-time homebuyers out for success in the long-term,” Bowman said.
Bowman also directs housing counseling efforts through Idaho Housing’s network of housing counselors. Homebuyers can use free pre-purchase counseling to walk through budgetary and credit issues if they crop up throughout the process.
For programs that offer financial assistance with down payments and closing costs, homebuyers are often required to take a homebuyer's class (whether in-person or online) to build out a better picture of what the process entails.
Free housing counseling is available for homebuyers seeking guidance. The Idaho Housing and Finance Association helps those looking for a home craft an action plan, whether it’s improving a credit score or changing financial circumstances.
“Across the whole state, that’s something people really struggle with, the affordability issues,” Bowman said.
The 6-hour classes are intended for first-time homebuyers, but there are a significant number of people participating who bought property 5-10 years ago and are preparing to learn what’s new.
“The course does a really good job of helping them crunch the numbers, plus anybody who completes the course gets a reference book,” Bowman said.
There is also a homeowners toolkit for homebuyers to familiarize themselves with after the deal has been closed and they’ve moved in.
Resources include information about home maintenance and disaster preparedness, obtaining help with mortgage payments, how to hire a contractor
Finally Home! was established in 1999 to help Idahoans have a resource that is comprehensive and available across the state by different nonprofits and industry experts.
Idaho Housing and Finance Association has online resources for homebuyer education at www.idahohousing.com as well as pre-purchase counseling.
