| YOU
WANT TO BUY YOUR OWN HOME BUT DON'T KNOW WHERE TO START?
The Durham Affordable Housing Coalition can help you
get started on these 10 steps to buying a home:
1. Register for our free Home Buyer
Workshop
by calling (919) 683-1185 ext. 41 or Ms. Tilley at ext. 21. Learn
all about buying a home and programs to assist first-time homebuyers.
(The workshop is required for the City’s first-time homebuyer
programs.) To register on-line, please go to
www.info@dahc.org.
Be sure to include your
name, address, phone number and whether you are signing up for the
morning or evening workshops. Click here to see
our workshop schedule.
2. Check your credit records. Free
credit counseling, (919) 683-1185. (You can get copies of your credit
reports by contacting the following organizations: Equifax
(1-800-685-1111 or www.Equifax.com),
TransUnion
(1-800-888-4213 or www.TransUnion.com)
and Experian
(1-888-397-3742 or www.Experian.com).
You will need a copy from all three-credit agencies.
3. Make an appointment for free home ownership
counseling by calling (919) 683-1185.
Figure out how much you can borrow and what price home you can afford.
4. Apply for the City's first-time home buyer
programs. To apply for the City's downpayment and second
mortgage loans to buy your first home, call the City at (919) 560-4000.
General requirements include:
-
Can purchase home within the City or County
of Durham
-
Home buyer must have at least $500.00 to put
towards a down payment
-
Household income cannot exceed 80% of median
family income (see below)
80% of the Raleigh/Durham/Chapel Hill Median Family Income
by Family Size
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
$39,550 |
$45,200 |
$50,850 |
$56,500 |
$61,000 |
$65,550 |
$70,050 |
$74,600 |
The City also has programs to help Public School Teachers
and Police Officers. For more information, call the Durham City
Dept. of Housing & Community Development at (919) 560-4000.
5. Find out about affordable homes and housing developments.
We have information on developers offering new and renovated homes.
6. Ask your bank or other lender to pre-qualify
you for a mortgage loan. Get a list of lenders with affordable
mortgage programs at our workshop.
7. Get your own Realtor to help you find and buy a home.
We have a list of Realtors familiar with first-time homebuyer programs
8. Find a home and make an offer to buy it.
9. Apply for a mortgage.
10. Buy your home!
COUNSELING PROGRAM
Below
is a list of some of the programs we offer: Homebuyer
Education Workshops, Pre-Purchase Counseling, Delinquency and
Foreclosure Counseling.
All counseling services will be conducted by a certified counselor
one-on-one.
All
counseling sessions are by appointment only. An Intake
Application must be completed and faxed or mailed back first along
with proof of income before
the appointment can be scheduled. Click on the Intake
Application link for the type of counseling that you require.
Please note for the pre-purchase and default counseling there are
two different applications, please select the correct application
based on your income.
Pre-Purchase Counseling
Individuals who want to purchase for the first time receive
pre-purchase education through one-on-one individual counseling
sessions. In the counseling sessions the topics addressed include
credit issues, mortgage loan products and pre-qualification, and
the various steps to homeownership. Click here to download
the Durham Affordable Housing Pre-Purchase Intake Application Package.
Click here to download the
IDA (Individual Development Account) Intake pre-purchase application form.
Default Intake
Application
If
you live in the City of
Durham
and your income is 80% or below of the median family income, please
use the City of
Durham Intake Default Instructions Application. Use the chart below for verifying your income. Click here to download
the City of Durham Pre-Purchase Intake Application Package.
80% of the Raleigh/Durham/Chapel Hill Median Family Income
by Family Size
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
$39,550 |
$45,200 |
$50,850 |
$56,500 |
$61,000 |
$65,550 |
$70,050 |
$74,600 |
Default/Delinquency
Counseling
Mortgagors who become delinquent with their mortgage payments receive
assistance through individual counseling sessions. Discuss options
such as forbearance plans and the sale of home is reviewed. Community
resources and alternatives are also reviewed and discussed. Click
here to download the Durham Affordable Housing Coalition
Default/Foreclosure Application Package.
If you live in the City
of
Durham
and your income is 80% or below of the median family income, please
use the City of
Durham Intake Default Instructions Application
. Use the chart below for verifying your income. Click here to
download the City of
Durham Intake
and Instructions Default Application Package.
80% of the Raleigh/Durham/Chapel Hill Median Family Income
by Family Size
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
$39,550 |
$45,200 |
$50,850 |
$56,500 |
$61,000 |
$65,550 |
$70,050 |
$74,600 |
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