Mortgage Readiness

Creating opportunities for home ownership is the core of Habitat NRV’s mission. The first step on the way to home ownership is being “mortgage ready.” This process begins with:

Assessing Personal Finances

  • Thorough review of current income and expenses
  • Managing and reducing current debt
  • Creating a spending plan including “with house” expenses
  • Determining affordability range

Examining the Credit Report

  • What information is on a credit report
  • Where and how to obtain a credit report
  • How credit score is calculated
  • What the detailed information means for your situation
  • Dealing with incorrect information

Understanding Home Ownership

  • Stick to the spending plan
  • Home maintenance and repair
  • If you get into trouble
  • Beware of scams

We use a variety of educational resources to prepare our candidates for success. When a household is “mortgage ready” they are invited to join our Homebuyer Program.