The Easter Seals organization is providing workshops that teach the many advantages and disadvantages of home-ownership, the steps of the purchasing process, information about credit, credit scoring, personal money management, the ins and outs of various types of mortgage loans and applicable interest rates, and advice on shopping for your first home. This information-packed program also provides information on the multitude of organizations offering down payment assistance.
Your Houston News reports:
“When I bought my first house a long time ago, I didn’t know any of this, but I had angels on my shoulder,” said Katy Thorstenberg, administrator of Easter Seals’ Montgomery County Home Fund Program. “I had a great lender; I had a great realtor who just walked me through the steps. I wish I had taken this class.”
Housing, Thorstenberg noted, is probably the number one component of being a healthy and sustainable family.
“Everything else depends on that. It’s an emotional thing as well as an economical thing,” she added.
Those who have taken the course and are interested in applying for down payment assistance through Easter Seals have a great alley in Thorstenberg. She is passionate about helping families find shelter and having the permanence and the pleasure of owning their own home.
“It’s one of the best win-win situations,” Thorstenberg said. “It benefits the family, obviously. They become more stable. They start to participate in civic functions, school functions. But it benefits the community. We’re putting homeowners into tax-paying properties; taxes go to the community.”
To take advantage of Easter Seals’ down payment assistance, a family’s gross income — not net — must not exceed, even by $1, 80 percent of an area median income. This figure starts at $38,850 and increases for each additional family member. Easter Seals offers a flat, $14,500 loan to those who qualify. Assets and income are closely scrutinized to ensure that the candidate meets the criteria.
>> read the full article at yourhoustonnews.com