Pathway To Homeownership (P2H)
P2H
Pathway To Homeownership is our twelve course certified mortgage readiness education platform. At the end of this course the student will leave with a vast knowledge of the home buying process and homeownership responsibilities. First eight classes are pre-purchase courses designed to prepare the participant for home ownership. The final four classes happen after purchase and are a guide to settling in your new home. Click the logo to begin your home ownership journey.
Our Requirements:
Applicants must have the following:
- Employed for 24 consecutive months in the same line of work.
- The same residence or same county for 24 consecutive months.
- At least $3,500 in reserves & gross more than $38,000.00 on 2020-22 tax returns.
- At least a 640 credit score & and be willing to re-establish new credit accounts if needed.
- Complete First Time Buyer Education Training The Pathway To Home Ownership Certified Home
- Buyer Educational Platform to become a Certified Home Buyer to obtain a home from Inspiring You To Greatness CDC.
- Pay an application fee of $125 and $100 per class for seven classes for $825.
- Submit a Pre-Approval from an Approved Lender to enter the Fast Track Program.
- Select from the five donated home designs OR pay the custom design fee.
- Any changes consisting of adding items over $500 or moving walls is considered a custom design.
Applicants must understand the following:
- If they do not want to participate in The Pathway To
Homeownership they may purchase their own lots.- Cost: Townplex (Half-Duplex) Lot – $56,000. Single Family Residence Lot
- $65,000. Premium Lots $78K – $102K.
- For participating they will receive: A IYTGCDC P2H Bag, Journal,
Pen, Printed Book for each class, hot meals at each class, and as a
result; no refunds are given for classes. - If the Client completes sessions and is not approved; they will not
have to repeat courses and will have first priority over any new
developments - If there is a cancellation for a reason; they will receive their
application fee back in full.
P2H Session Classes:
Pre-purchase courses:
- Class One: Money Literacy
Taught using the FDIC Curriculum. A full understanding of what money is while showing ways to make it, grow it, and save it.
- Class Two: Financial Literacy
Taught using the FDIC Curriculum. A complete breakdown of the financial portfolio on budgeting, financing, and how to build wealth.
- Class Three: Credit Literacy
Taught using the Underwriting Guidelines of Lender Partner. Four-part series: - 1. Understanding Your Credit Report - - 2. Correcting Your Credit Report - - 3. Updating Your Credit Report - - 4. Building Your Credit Report. - - 5. Seeing Your New Scores.
- Class Four: Rental Readiness
Taught using the requirements of Rental/Lender Partner. Explaining the relationship between the landlord and the mortgage company & why it’s important.
- Class Five: Mortgage Readiness
What is a Mortgage?... Appraisal?... Title Policy?... Homeowner’s Insurance?... Closing?... In this session we explained why all these items are needed, what they are for, and what the long-terms effects are of them.
- Class Six: One-Time Close
Taught using the Underwriting Guidelines of Lender Partner. Be in the driver's seat of your home build with this unique mortgage financing option.
- Class Seven: Home Repair Readiness
Taught using the National Standards of Homeownership. Light maintenance, watering, weatherization, pipe prep for winter, filter changing & other important issues covered in this session to protect the homeowner’s investment from the inside out in advance.
- Class Eight: Foreclosure Prevention
Taught using the HUD Foreclosure Prevention Manual. Clients are given the specific list of what to do when and if they have a problem paying their mortgage to ensure they are equipped with the steps to prevent foreclosure by asking for help.
Begin your journey to achieving the American dream of home ownership today!
Current P2H participants can track course progress here.