Homebuyers' Club

      In 1995, WCO was the first housing non-profit to recognize that potential homebuyers were being boxed out of homeownership due to a lack of homeownership education. This recognition led directly to the formation of the Homebuyers’ Club. The Homebuyers’ Club is a voluntary, self-help group of people who are interested in owning their own homes. These seminars are offered in English and Spanish. Each Club has approximately fifteen members, and each class is led by a trained housing counselor and assisted by a lending institution advisor. Currently, over 700 graduates now own their own homes. Membership is available to those who want to become homeowners. Participants must commit themselves to active involvement in the program for a period of one year. Enrollees attend a 1 1/2-hour class once a month. Classes are participatory and interactive, and attendees are encouraged to express their opinions, ask questions and take part in class activities. Members set monthly goals leading to the purchase of a home. There is no charge for the program. The curriculum is designed to equip the participant with the information necessary to understand the home buying and financing process. And it provides the insight to makes the changes that may be necessary to achieve the goal of home ownership. In addition to a printed textbook, there are guest speakers who lend their particular expertise to the classes. Speakers include: real estate agents, mortgage lenders, credit bureau representatives and building inspectors. Homebuyers’ Club Advantages:

• How to get (and keep) your finances in good working order: how to budget for new costs (your mortgage and utilities), and how to fix the credit problems that scare off lenders.

• We take the mystery out of home buying. Expert guest speakers (a mortgage underwriter, real estate agent, closing attorney) answer your questions about each step in the process.

• You'll get plenty of personal attention. The classes are small (no more than 15 people), and you receive one-on-one financial counseling from our trained staff.

• You'll graduate knowing exactly how to find a home and buy it.

• And as a Club member, you receive preference for the houses that Woodbine annually puts up for sale.

Below is a summary of the curriculum:
Employment: The importance of a stable income needed for homeownership is addressed.

Budgeting: The class tackles the important budgeting questions such as: Why budget? Where does the money go? How can I save money? How do I choose a saving goal?

Credit: The instructors will show you how to understand your credit report, correct a faulty report and create a stable credit history.

Savings: The class gives critical information about the importance of saving and how savings and savings institutions work.

Selecting a Home: You will learn important information about purchasing your home including: homes you can buy, how to choose a realtor, utility and management cost, insurance, and taxes.

The Home Purchase Process: The class will walk you through the home purchasing process by giving specific information concerning contracts, inspections and shopping.

Financing for a Mortgage: Various mortgage down payment assistance programs are explained in terms you can understand enabling you to choose the program that is right for you.

Post Ownership: We give you the important information you need after you have purchased your home. Some of the topics addressed include: maintenance, budgeting and other issues.

For additional information about Homebuyers Club contact Rod Williams at (615) 850-3453.

For information about enrollment, locations and times, contact Pattie Hall at (615) 850-3455.