Homebuyer Education
Step 1: Register for Online Education
Step 2: Register for One-on-One Counseling
WRAP (NSP) Program Events:
February 8th and 9th
5:30pm to 9:00pm
WCDA Basement
155 N. Beech Street
Casper, WY
Why Homebuyer Education?
Many potential homeowners are intimidated because they feel the home buying process is complex. One way to minimize the fear of the home buying process is to provide clear and consistent information and high quality guidance for buying a home. The objective of this course is to help answer the many questions you have regarding the home buying process.
Borrowers who participate in special housing programs are usually required to successfully complete a homebuyer education course as a qualification to entitle them to a reduction of the cost of mortgage insurance, down payment assistance, closing costs, etc. At the end of this course, the student can print out a Certificate of Completion.
In addition to an on-line course, WHN also provides a one-on-one counseling session that can be completed at our office in Casper or over the telephone. When added together, the on-line class and one-on-one counseling, a prospective homebuyer can learn the entire home buying process.
Some of the specific highlights of the course are:
- How to examine your housing needs and prepare to make housing decisions about your own situations.
- The advantages and disadvantages of new homes, existing homes, factory built homes and condominiums.
- How to analyze your own financial situations and learn strategies to improve your financial management to prepare for homeownership.
- How much you can afford to pay for a house including down payment, loan principal and interest as well as insurance and tax payments.
- How to maximize your chances for qualifying for a loan.
- Strategies in shopping for a home.
- How to evaluate the location, structure and features of your home.
- The home inspection and appraisal process.
- Mortgage terminology and how to apply for a mortgage loan.
- Different types of lending programs, different sources for mortgage loans, comparing the different programs and discussing options when a loan application is denied.
- How to prepare for the real estate transaction closing process.
- The responsibilities and opportunities of homeownership.
- How to schedule routine home maintenance, choose home improvements and make wise use of home equity.
- The purpose of title insurance, mortgage insurance, homeowners insurance, flood insurance, home warranties and credit/life insurance.
