Jane Goodhome Stats

• HCV participant for four year
• 1st time homebuyer
• Member of Family Self-Sufficiency Program
• Employed full-time at N.E. Ware & Co. where she makes approximately
  $21,000 per year
• Closely follows a written budget
• Has an excellent credit rating
• Has $800 saved so far toward homeownership and has established
  a habit of saving

The Process

• Ms. Goodhome shows proof of her savings and is referred over to a HUD-Approved Homeownership Counseling provider for classes
• Ms. Goodhome attends budgeting and credit counseling  sessions (if necessary) and homeownership classes
• Ms. Goodhome’s income along with her CMHA Voucher subsidy is calculated and she gets pre-approved for a $100,000  30-year mortgage at 6%
• Ms. Goodhome works closely with her realtor and puts in a bid of $94,000 for a house and the offer is accepted
• Ms. Goodhome puts 5% down
• After the house passes the Health Quality Standards (HQS) inspection, a whole house inspection and all repairs and re-inspections are completed, her closing is scheduled
• Ms. Goodhome attends the closing where she receives all the paperwork and the keys to her new home

Monthly Home Ownership Expenses