Readiness Assessment and Pre-Purchase Counseling

HOME, Inc.’s Homeownership Readiness Assessment and Pre-Purchase Counseling is an individualized counseling process that enables prospective homeowners to determine if they are ready to purchase a home and develop their personal plan to do so. 

Homeownership Readiness Assessment is individualized assistance to explore the purchase of a home and includes:

  • Reviewing basic information about your current financial situation
  • Obtaining and reviewing your current credit report from three reporting bureaus
  • Determining your ability to qualify for a mortgage at this point in time
  • Establishing a housing affordability range for a home purchase price or mortgage limit
  • Identifying programs that may assist you in purchasing a home
  • Developing a home buying plan outlining steps you can take to qualify for a mortgage
Pre-Purchase Counseling is individualized assistance to help you put your home buying plan into action and includes:
  • Assessing your housing needs for property selection
  • Creating a budget to meet your financial goals
  • Referral and assistance in making application to homeownership programs.
  • Identifying the right lending program and making application.
  • Reviewing educational materials on topics such as using a realtor, selecting and inspecting a home, financing a home through the mortgage process, preparing to move, and life as a homeowner.
To participate in a Homeownership Readiness Assessment a client must complete a Homeownership Readiness Questionnaire.

Household income for our program needs to be between 50% and 75% of the area median income. Household income includes all adults residing in the unit. See table below. 

Family Size   50% (minimum) 75% (maximum)
 1  $28,800  $43,155
 2   $32,900  $49,320
 3   $37,000  $55,485
 4  $41,100  $61,650
 5  $44,400  $66,582
 6  $47,700  $71,514