First-time home buyers in the Upper Cumberland can go back to school to prepare for the purchase.
DeKalb County Family and Consumer Science UT-Extension Agent April Martin said home buying courses are available for first-time buyers. She said the classes, in particular, serve the residents who apply through the Tennessee Housing Development Agency. Martin said THDA will connect buyers with education courses either online or in-person.
“There’s so many people out there, that if it wasn’t for the program that THDA offers, they would not be able to afford it,” Martin said. “They offer lower interest rates and help with their down payment. This course is required by THDA.”
Martin said that applicants will learn how to prevent foreclosures, credit score management for loans and budgeting for a mortgage. Martin said first time home buyers can find out if they qualify by visiting thda.org and getting connected with its education class network.
“The course, if you do it in-person is about a four-hour program and I’d say that most of the clients I’m working with now do the online version,” Martin said. “You do that at home on your own time, and then there’s a follow up phone call or office visit that lasts about one hour.”
Martin said that a THDA application is the first step in the process, with classes being scheduled on an as needed basis. She said that not every county has an extension office offering the program, but they are available in Dekalb and Putnam Counties.
She said once visiting thda.org, potential applicants will see a buy a home tab with options to select from. She said each county has different income and home purchasing qualifications that will indicate whether the Great Home Choice Loan program is right for them.
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