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How do I purchase a home through First Homes?
It seems to be too good to be true, but First Homes has money to give to working families who want to buy their own starter home. How do you tap into the funds First Homes has available? Follow this process:
- Meet income guidelines and see a lender. The lender will help you determine whether you meet the First Homes income requirement, determine whether you qualify for a mortgage, answer questions on First Homes' financial assistance, provide information on other financial assistance available, and provide information on First Homes options.
- Attend a CLT orientation class (for CLT program only). This will give you an overview of First Homes and how the Community Land Trust (CLT) works.
- Attend a Homestretch class. Sign up and attend homebuyer education classes, which are required by First Homes and the lender.
- Identify the home you would like to purchase. Schedule a meeting to sign the purchase agreement.
- Review paperwork. First Homes will provide homebuyers with documents for review before closing on the home purchase. You may wish to use an attorney to review the documents.
- Meet with First Homes staff. At this meeting, First Homes staff will review your home buying progress and resolve remaining issues.
- Close the deal. The deed to the home is transferred to you. Congratulations! You are a homeowner!
For more information on First Homes, be sure to review other pages on our web site here, call (507) 287-7117 or .
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