Credit Difficulties |
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What is a HUD-approved housing counselor, and how can they help me? |
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A Hud-approved housing counselor is specially trained and certified by the government to help you assess your financial situation and evaluate options if you are having trouble paying your mortgage loan.
HUD stands for the Department of Housing and Urband Development and its an agency that helps people get and maintain quality affordable housing.
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What happens when you call a HUD-approved housing counselor: |
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| Expect for the housing counselor to ask for information regarding your mortage loan, such as amount owed, payment amount and date of your last payment. The housing couselor may also ask for information about your paystubs, tax returns, bank statements, and all relevant bills that you pay each month such as credit cards and car loans. |
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If you are having trouble paying your mortgage. |
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| A HUD-approved housing counselor cannot promise that you will be able to keep your home. However, they will look at every option possible to help you make careful decisions. |
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First Time Home Buying |
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What is Financial Wellness Boot Camp? |
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The Financial Wellness Boot Camp classes are held on Mondays and Tuesdays and designed to help individuals who may need a little extra boost with their credit score. In this 5 session course they will learn new tools to help navigate the process of cleaning up debt from credit files with reporting agencies.
To get more information or to register for our next session, please email us at info@housingconsultantsgroup.org. |
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What is the Homebuyers Education Class (HBE)? (required for DPA program) |
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The HBE class is offered monthly and is very informative regarding credit before and after home purchase, emergency planning, budgeting, and home maintenance. You will hear from realtors, lenders, attorneys, and other people in the homebuying progress using real life scenarios on home purchasing. This 8 hour counseling session is in person and is one of the requirements for the down payment assistance program.
To register please email us at info@housingconsultantsgroup.org. |
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What are Individual Development Accounts (IDAs)? |
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Individual development accounts (IDAs) are special savings accounts that match the deposits of low- and moderate- income people. For each dollar saved in an IDA, the saver receives a corresponding match which serves as both a reward and an incentive to further the saving habit. Savers must agree to complete financial education classes and use their savings for an asset-building purpose.
To find out more or to register for the next session of the IDA class, please email us at info@housingconsultantsgroup.org. |
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How do I apply for down payment assistance (DPA) High Point? |
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**If you live outside of Guilford County the webinar is $50, and must be paid prior to attending the class**
Step 1:
Eligibility Requirements Flyer
Core City Homebuyer Program Flyer
Residency: Must be a US/Permanent Resident.
First Time Home Buyer: Applicant Buyer cannot have owned a home within the last (3) three years.
Primary Residence: Applicant Buyer must occupy home as primary residence for at a minimum of 5+ years.
Income Limit: Applicant Buyer’s income cannot exceed 120% of the area median income (AMI) for households with two or fewer people or up to 140% (AMI) for house holds with three or more. Income limits are calculated each year based on HUD-approved area median incomes.
Income limits as of April 18, 2022:
Family Size: Max Income:
One $40,900
Two $46,750
Three $52,600
Four $58,400
Five $63,100
Six $67,750
Seven $72,450
Eight $77,100
Homebuyer Assistance Flyer
Step 2
What credit score must I have to qualify?
Scores 620-640 or greater required for Realty and Lending.
Score 600 or greater credit score required to register for Homebuyer Education (HBE)
Step 3
All Applicant Buyers must receive housing counseling before receiving Homebuyer Down Payment Assistance (DPA).
How long is the class?
The homebuyer education class is an 8-hour in-person required course for anyone listed on the Deed of Trust.
Step 4
Must Contact HCG office to Register for class.
The Applicant Buyer must call the office directly to register for class at (336-553-0946 ext 201) or info@housingconsultantsgroup.org.
What if I have already completed the 8-hour class and have my certificate?
You may use the certificate you have, provided the certificate has not expired (cert. good for one year from date received). If it is expired you must retake the class to get a new certificate. Once you have your certificate you will work with your Lender and Realtor to complete the process
For additional information please visit:
City of High Point Homebuyer-Assistance-Programs
For registration and general questions please contact us at info@housingconsultantsgroup.org.
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How do I qualify for Down Payment assistance (DPA) in Greensboro? |
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**If you live outside of Guilford County the webinar is $50, and must be paid prior to attending the class**
Step 1:
Residency: Must be a US/Permanent Resident.
First Time Home Buyer: Applicant Buyer cannot have owned a home within the last (3) three years.
Primary Residence: Applicant Buyer must occupy home as primary residence for at a minimum of 5+ years.
Income limits for 2023:
- For households with incomes at or below 80% area median income (AMI):
- Eligibility Requirement - Must be a current City of Greensboro resident
- Employment Requirement - None
- Property Type Requirement - Post-1978 units and purchase limits
- Assistance Amount - Up to $15,000, with a $5,000 bonus if home purchased is located in a designated reinvestment or redevelopment area
- For Public Service Heroes with household incomes above 80% and below 120% AMI:
- Eligibility Requirement - No Greensboro residency requirement
- Employment Requirement - Must be an employee of the City of Greensboro, Guilford County, or Guilford County public school system, or active duty military or military veteran
- Property Type Requirement - None
- Assistance Amount - Up to $15,000, with a $10,000 bonus if home purchased is located in a designated reinvestment or redevelopment area
- Read more about this Public Service Heroes program.
-For #100Homes with household incomes above 80% and below 120% AMI:
- Eligibility Requirement - No Greensboro residency requirement
- Employment Requirement - None
- Property Type Requirement - None
- Assistance Amount - Up to $10,000, with a $5,000 bonus if home purchased is located in a designated reinvestment or redevelopment area
Current income limits are also available online or by contacting program staff or your lender and realtor.
FAQs about the program: Homebuyer Program Q & As
Step 2
What credit score must I have to qualify?
Scores 620-640 or greater required for most Realty and Lending companies.
Score 600 or greater credit score required to register for Homebuyer Education (HBE)
Step 3
All Applicant Buyers must receive housing counseling before receiving Homebuyer Down Payment Assistance (DPA).
How long is the class?
The homebuyer education class is an 8-hour in-person required course for anyone listed on the Deed of Trust.
Step 4
Must Contact HCG office to Register for class.
The Applicant Buyer must call the office directly to register for class at (336-553-0946 ext 201).
What if I have already completed the 8-hour class and have my certificate?
You may use the certificate you have, provided the certificate has not expired (cert. good for one year from date received). If it is expired you must retake the class to get a new certificate.
Once you have your certificate you will work with your Lender and Realtor to complete the process.
2023 Participating Lenders and Realtors
Additional questions?
please visit the city's website at City of Greensboro Homebuyer Assistance or Housing Connect GSO.
For registration and general questions please email info@housingconsultantsgroup.org.
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Foreclosure |
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What is Foreclosure? |
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| When a homeowner fails to make the payments due on a mortgage loan, the lender may begin a legal process known as "foreclosure" to take possession of the home and to sell it in order to recover amounts owed on the defaulted loan. |
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What can Housing Consultants Group (HCG) do to help prevent foreclosure? |
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| HCG can contact your lender directly on your behalf to discuss your home loan retention options and help you apply for assistance. |
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What can I do to prevent my home from going into foreclosure? |
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If you are unable to make your mortgage payment, contact your lender immediately to discuss your options. Educate yourself on the foreclosure process in order to understand your options.
Open all mail from your mortgage company. The notices may offer good information to help you avoid foreclosure, or may notify you of pending legal action.
Avoid companies that offer help for a fee. You don’t need to pay for help.
Beware of scams. If someone claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may be signing over the title to your property. |
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How do I process the foreclosure documentation? |
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| HUD-approved housing couselors provide foreclosure prevention couseling 'free-of-charge' including assisting in completing mortgage assistance documentation. |
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