Pre-Purchase
The pre-purchase home ownership program has educated hundreds of people each year
on the availability of a number of mortgage products and grants that allow home
purchase with little or no money down. Through our services, people with no thought
of ever having the opportunity to own a home, have fulfilled the American dream
of home ownership.
Mortgage Products and Grants
Housing and Credit Counseling, Inc. is continually involved in partnerships on loan
programs, products, cities and locally owned businesses. Current partnerships include:
TOTO - Topeka Opportunity to Own
TOTO is intended to help Topeka residents become homeowners by providing education,
financing and home rehabilitation. A homebuyer counselor will assist you through
the entire process. If you are not eligible, we will let you know what needs to
be done in order to qualify. Once your eligibility is confirmed you must attend
home owner and maintenance education before looking for a home. Financing for the
home purchase and repair will be provided by a participating lender
Capitol Federal or
Core First Bank and the
City of Topeka Housing and Neighborhood Development. The lender
will provide the first mortgage loan. The City will provide up to $20,000 for repair
and purchase cost, or up to $30,000 for homes purchased in one of the four opportunity
areas.
Requirements:
- Purchase anywhere in the City of Topeka or in one of four opportunity areas
- $500 for down payment
- Sales price cannot go over $65,000
- Cannot own real estate at time of closing
- Credit readiness and approval
- Budget evaluation will determine affordability
- Attend a total of 12 hours of home buyer and maintenance training before closing
2010 HUD Median Annual Family Income Guidelines - 80% Area Median
|
Family Size
|
One
|
Two
|
Three
|
Four
|
Five
|
Six
|
Seven
|
Eight
|
|
Yearly Income ($)
|
$34,350
|
$39,250
|
$44,150
|
$49,050
|
$52,950
|
$56,900
|
$60,800
|
$64,750
|
In-person & Telephone Counseling
A qualified housing counselor will help you with:
- credit readiness
- setting up a budget
- financing options
- grant opportunities
- action plan to accomplish your goals
- affordability
- down payment
- working with a lender
- working with a realtor
- selecting a home
- offers and closings
- home maintenance
By the end of the counsel, you'll be prepared to pursue home ownership and feel
more confident about the entire home buying process. The session takes an average
of 60-90 minutes and includes a homebuyer education certificate at completion. This
certificate is necessary to access many of the financial assistance programs.
Fees and Forms
There is no fee for pre-purchase counseling.
What to prepare for your appointment:
These forms are in Adobe Reader files. If you don't have the software, download
it free prior to attempting to access the files.
If you are attending your counseling session in person, bring the completed information
listed above with you to your appointment. If you are conducting your session by
phone, please return the completed information listed above to our office in advance
of your appointment and keep a copy for yourself to refer to during the session.