First Time Home Buyers
The Minnesota Home Ownership Center's pre-purchase education program is known as Home Stretch. Home Stretch is designed to take the mystery out of the home buying process and prepare first-time homebuyers to make the important choices related to homeownership.
The first step of the Home Stretch Program
is the Home Stretch workshop.
These workshops cover such topics as:
• Knowing your financial situation
• Credit & credit issues
• The types of home ownership
• The role of the lender
• Understanding the loan closing process
• Your legal rights & responsibilities as a home owner
The next step of the Home Stretch Program
is Home Stretch counseling.
The second step of the Home Stretch Program is individualized counseling (not available in all areas). Trained counselors can meet with you to identify financing options that best meet your household's needs. If, for whatever reason, you're not quite ready to purchase a home, or you've encountered barriers on your road to home ownership, your counselor will work with you to create and implement step by step plans to remove these barriers, and help you become a successful home owner! Home Stretch Counseling is not available in all areas. Please contact your local Home Stretch provider to see if they offer counseling.
Home Stretch Providers are local, non-profit, community based organizations that offer the Home Stretch Program.
In addition, some mortgage lenders require borrowers to complete an approved homebuyer education course in order to qualify for affordable mortgage loans. Home Stretch has been approved by many mortgage investors to meet this requirement, including:
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• Minnesota Housing Finance Agency (MHFA) |
To see a schedule of upcoming Home Stretch workshops in your area, visit the map page and choose your county.