Homebuyers

Homebuyer Education

Buying and owning a home involves decisions and expenses that are new to most of our homebuyers. Homebuyer education classes address these specific issues, including: credit and credit reporting, what makes up a mortgage payment, what is escrow, details of the loan process, and the legal documents involved in the transaction.

Habitat for Humanity of the New River Valley provides prospective home buyers with the resources they need to succeed. Financial education builds a strong foundation for long-term success as a home owner. Even if you feel like you understand personal finance, there is always more to learn. We cover topics like budgeting and banking basics here at Habitat and through partner organizations.

We can help you understand your credit report, and develop a plan to improve the score. Combined with the other education resources, credit repair can help you become mortgage-ready. Our Mortgage Readiness program focuses on preparing folks to succeed as home buyers.

Getting ready to purchase a home can present big challenges, and we want to you to be prepared!

Mortgage Program

Habitat acts as a lender for a 30 year interest free mortgage. The money that families pay back is channeled into the construction of more Habitat homes for other families. You must be “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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If you prefer to mail in your application and/or you need us to do a credit report, download and print the form by clicking the PDF

 

Mail To:

Habitat for Humanity New River Valley

1675 N Franklin St.

Christiansburg, VA 24073.

You can also request a form be mailed to your home address on our Contact Page.  

If you are able to retrieve a free credit report and you would like to submit your application documents online then click "Apply Online"
(you can also email your application to jdrader@habitatnrv.org)