Pre-Purchase & Budget Counseling
NWNEPA has been helping prospective homebuyers prepare for their big purchase for the last three decades. Since long-term, responsible homeownership is our goal, our HomeOwnership Specialists work with homebuyers throughout the entire process to ensure success and eliminate “surprises” for those unfamiliar with the responsibilities of homeownership. Over the years, we’ve helped close to 1,000 local families become homeowners.
NWNEPA’s staff members are experienced in working with clients facing challenges that may be keeping them from homeownership. Our free Pre-Purchase & Budget Counseling services include:
Budget (income & expense) analysis to evaluate your current situation.
- Credit repair services to help clean up any outstanding credit issues and raise your score.
- Ongoing access to our Financial Fitness Sessions to help make sure you stay on track.
- Providing information on creating a spending plan, managing and establishing credit, and protecting your assets from identity theft and other forms of financial fraud.
Financial Fitness Sessions
Do you have a long-term goal of owning your own home? Our Financial Fitness Sessions may be just what you need to stay on track.
Recommended for prospective homebuyers who may be six months or more away from purchasing a home, these sessions will give you the opportunity to go over your budget and credit score with an NWNEPA HomeOwnership Specialist, get some advice on your credit repair and savings strategy, and learn about any new assistance programs that may be available to help you achieve your financial goals. Financial Fitness Sessions are held every-other month at our offices. Sign up today!
A name to trust.
NWNEPA is a certified HUD-approved housing counseling agency, a chartered member of NeighborWorks® America, an approved agency for Pennsylvania Housing Finance Agency’s (PHFA) Comprehensive Housing Counseling Initiative, and an endorser of the National Industry Standards for Homeownership Counseling.
Sign up for a session with one of our HomeOwnership Specialists today!
Homebuyer Education Workshops
Purchasing a home is typically one of the most significant investments and individual or family can make during their lifetime. Due to an always-changing financing environment and local housing market, NWNEPA recommends that you receive homebuyer education if you plan on purchasing a home within the next six months. We make sure that prospective buyers are equipped with the knowledge and skills to become successful, responsible homeowners by offering two ways to get all the information you need:
NWNEPA offers this interactive online course in partnership with eHome America for prospective homebuyers who want the convenience of completing the homebuyer education course at their own pace. Click here to register for our online course.
Who should take this course?
- First-time homebuyers
- Borrowers who need a homebuyer education certificate to qualify for a loan or assistance program
- Individuals looking to become more educated about homeownership
- Homebuyers working with local housing counselors
Key Features of eHome America’s online course:
- Complete at your own pace
- Animated videos covering all materials
- Easy-to-read content with highlighted keywords
- Quizzes throughout course to ensure understanding
- Instant access to local homeownership counselor
To personalize the homebuyer education experience either before or after completing the online course, NWNEPA recommends that prospective homebuyers schedule an appointment with a HomeOwnership Specialist to discuss available assistance programs and to review your budget, credit reports, and other information relevant to your home purchasing process. Please note: NWNEPA will not be able to award a homebuyer education certificate without a brief individual (either in-person or over the phone) counseling session to obtain your information and to provide you with tips for buying a home in the local market.
NWNEPA offers this informative workshop multiple times each year. By attending this workshop, prospective buyers can:
- Participate in discussions lead by local housing industry professionals, including: lenders, realtors, property inspectors, insurance agents, homeownership specialists and others you will be coming into contact with during your home-buying process
- Receive information on how to avoid predatory lending
- Participate in a question and answer session with an attorney specializing in residential real estate transactions
- Have the opportunity to interact with other homebuyers
City of Scranton First-Time Homebuyer Program.
The City of Scranton First-Time Homebuyer Program provides funds in the form of a forgivable, deferred-payment loan to income-eligible, first-time homebuyers who wish to purchase a home in Scranton. These funds assist the homebuyer with his/her down payment and closing costs. Generally, the beneficiary will not have to pay any portion of this loan back to the City if he/she maintains the home as his/her primary residence
for at least five years.
The program currently provides a subsidy of up to l/2 of the down payment (maximum match dollar-to-dollar not to exceed $7,000) or 10% of the purchase price of the home, whichever is less. It also provides support for eligible closing costs up to $5,000 maximum.
For more information, call the Scranton Office of Community & Economic Development at (570) 348-4216.
Other Financing & Assistance.
Many national, regional and local banks have special programs geared towards assisting first-time buyers. Call our office for information on products, services and rates from some of the lending institutions doing business in our service area.