Industry Secrets: How a Home Buyers Class Can Save You Thousands
Have you ever thought it seemed impossible you could go from renter to homeowner? There's no doubt about it: buying a home is a serious commitment and demands long-term investment, but people buy homes all the time. You can be one of those people, and the secret to your success might just be a home buyers class.
Home Buyers Class: A Secret Weapon
It's a simple move but one that has huge implications for your future. All the things that make homeownership seem out of reach—the industry insider real estate terms, the complicated financial jargon, the complex financial calculations—all become clear when you take a class. A good class will demand an investment of your time, but it could save you thousands, making the return on investment well worth it.
What Do You Learn?
All education about the process of buying a home has to meet certain standards. The most common set of standards are those set by the National Industry Standards for Homeownership Education and Counseling.
Classes cover the key things you need to know about homeownership, such as assessing whether you're ready to buy, the details of how to finance a home purchase, how to shop for properties, how to maintain your home, how to keep your finances in order to pay off your mortgage, how credit works, and how to budget for a big purchase like a home.
Essentially, your home buyers class is letting you in on the industry secrets that might otherwise trip you up. That gives you a priceless edge in the process of finding and financing your home. Many home buyers classes also offer special counseling sessions and customized, one-on-one help for people in special circumstances.
The Benefits of Taking a Class
The greatest benefit comes when all the terms and practices that surround the process of buying a home are demystified. Armed with knowledge and confident in your understanding, you'll be able to make better decisions, find good options for mortgages, and get through the home-buying process faster.
A better understanding of the process isn't the only benefit to a home buyers course. There are more immediately tangible benefits, too. Depending on your state, taking a class makes you eligible for down-payment assistance and closing-cost assistance, which can save you thousands. You may also be eligible for grants worth thousands more and qualify for mortgage rates below market levels.
In some cases, you may actually be required to take a class or a counseling course, especially if you're a first-time homebuyer looking for loans with low down payments. You'll also have to take a course if you're using a non-traditional source of credit or getting government aid.
How Long Does It Take?
The most basic courses can be done in just a couple of hours, often on a Saturday. Great classes are easy to personalize, though, so if you need 10 hours or even 60, you can get the help you need from counselors who understand where you're coming from.
Finding a Great Class
It's important to take a class from someone familiar with your state. Every state has unique rules about the home-buying process and offers particular incentives for taking classes. With a home buyers class, as with most things, you get what you pay for. If you're willing to invest in your course, you'll get more personalized counseling and be able to ask your specific questions. It's a small investment that can reap enormous rewards when you go to buy.
Get the Inside Track
To learn more about the process of homeownership and get the inside track, talk to Justin Purpero today. Work with a homeownership coach who can answer your questions and give you the industry secrets you need to build wealth for yourself.