Are you considering purchasing your first home, but feeling overwhelmed by the process? Somerville Community Corporation can help.
SCC provides a comprehensive education program for *First-Time Homebuyers. Our knowledgeable staff educate participants on budgeting, understanding credit, savings, and how to be prepared to become a homeowner. Our classes include presentations from a variety of industry professionals:
- Real Estate Agents
- Loan Officers
- Home Inspectors
- Homeowners Insurance Agents
- Real Estate Attorneys
- Fair Housing Specialists
- Homeownership Programs Representatives.
All the professionals a homebuyer will encounter in their journey to purchasing their first property. Classes are open to everyone, including non-Somerville residents.
SCC offers two different options to complete this training and receive your certificate: Live Classes and Framework. Please see below for more information about both.
First-Time Homebuyers Live Classes (Zoom)
Learn everything you need to know about buying your first home with our Citizens’ Housing and Planning Association (CHAPA) certified monthly First-Time Homebuyer course. During the training you will be able to hear from and ask questions of those who specialize in various areas of the homebuying process. Pre-registration is required. The registration fee is $65 per person or $90 for two and is offered in English or Spanish. Upon completion, you will gain access to products geared specifically towards first-time homebuyers such as the ONE and MassHousing loans. This Certificate is honored by HUD and expires three (3) years from the date the class was completed.
Framework Online First-Time Homebuyer Course
This is our self-paced class offered in both English and Spanish. When you educate yourself for smart homeownership with Framework, you’ll navigate every step of the process with confidence and on your own time. The registration fee is $75.
Step One: Register to start your training
Once the modules have been completed, the learners can schedule their required Advisory Session with our Counselor which is held monthly from 6:00PM to 7:30PM. After this virtual session, we release the First-Time Homebuyer Certificate. Students can always access training materials from their learning dashboard. This Certificate is honored by HUD and expires three (3) years from the date we release it.
HCV – Section 8 to Homeowner Class
The Housing Choice Voucher (HCV) Homeownership Program allows a Public Housing Authority (PHA) to make monthly housing assistance payments on behalf of first-time homebuyers to assist in meeting their monthly homeownership expenses.
ELIGIBILITY
Under the Housing Choice Voucher (HCV) Homeownership Program, families can use federal housing assistance to purchase and build equity in a home of their own.
In addition to the family’s basic eligibility for housing voucher assistance, families admitted to the HCV Homeownership Program must meet additional requirements. Topics taught during the class will include:
- Section 8 Voucher holder status
- First-time Homebuyer qualifications
- Minimum income requirement
- Employment requirement
- Minimum Downpayment
- Additional PHA eligibility requirements
- Homeownership counseling
- Program portability options
For more information, please contact Renee Taylor at rtaylor@somervillecdc.org
