Are you a first-time homebuyer that’s ready to purchase your new house? If so, I’ve found the perfect resource to get you all the information you need to make it happen. On this episode of Beyond The Vision, we’re chatting with Cathy at the Homeownership Training Office to learn all about the great programs and resources offered to first-time homebuyers in National City. These tips will help prepare you with everything you’ll need to buy your very first house.
The Homeownership Center here in National City is run by Springboard Home Loans, part of local non-profit organization Credit.org. As part of the Paradise Creek Apartment complex, Cathy and her team help tenants and local residents to learn all about the homebuying process. Some tenant families have transitioned to homes of their own, a credit to the success of the program.
HUD-Approved Education For The First-Time Homebuyer
One of Springboard’s main goals is to provide education to prospective homebuyers in the community. As HUD-approved Homeownership Center, they provide 8-hour buyer education workshops sponsored by Credit.org. In these classes, attendees learn about credit, budgeting, debt-to-income ratio, the role of realtors and lenders, and what it really takes to buy a home. A certificate of completion is then given, valid for one year. Since purchasing real estate is an investment, Springboard Home Loans’ classes help their clients truly understand the process.
Depending on your income, Springboard can connect you with a variety of programs designed specifically with the first-time homebuyer in mind. Since Springboard’s focus is on those with low-to-moderate income, they offer loans that allow buyers to put as little as $500 down with a few qualifications. They also play a key role in a special program offered by the City of National City: the First Time Home Buyer Program.
The First Time Home Buyer Program
This program offers down payment assistance to the first-time homebuyer looking to settle down in National City. Working through Springboard Home Loans, clients can see if they meet the qualifications and then apply for the program. If eligible, they can take out a loan through this program. The loan can lower their monthly payment or help them qualify for a higher purchase price—with payments deferred for 30 years!
The Homeownership Center doesn’t limit their help to National City; the entire city of San Diego can take advantage of the education offered. Even if you’re not ready to purchase a home right away, taking advantage of these resources will prepare you for the future. Learning how to budget and save will be essential for any home purchase you eventually make.
If you want to know more about the classes offered here at Springboard Home Loan’s Homeownership Center, feel free to contact me and I’d be happy to connect you with all the resources you’ll need.