Betty and Raymond Mitchell were comfortably ensconced in a senior living community in the Virginia Park neighborhood. Then the unsettling news arrived about their 14-year-old…
Homeownership is the bedrock of the American Dream and of stable and vital neighborhoods. Our pre-purchase education and counseling programs enable aspiring homeowners to understand in detail the process of buying a home and qualify for various home-purchase assistance programs offered by the government and others.
Our HUD-approved agency employs professional, bilingual and MSHDA-certified counselors. They offer homebuyer education classes, pre-purchase counseling and financial coaching through one-on-one sessions, group workshops, and community events.
Completing a homebuyer education course or workshop is a required component by most lenders and all down payment assistance programs. We offer free, monthly Homebuyer Education workshops at Southwest Solutions’ Housing Resource Center, located at 1600 Porter, Detroit, MI 48216. At the end of the class, participants will receive a certificate of completion.
To learn more about upcoming education workshops and to register for one, call Lupe at 313.841.9641 or email her.
Clients can also complete the equivalent homebuyer education by participating in an online pre-purchase program from ehome America. The cost of the course is $99. (See a 30-second ad about this eHome program.) To learn more, email Teresa Torres, our pre-purchase counselor.
All recipients of homebuyer education are also eligible for financial coaching.
Southwest Economic Solutions would like to thank our 2017 Homebuyer Education Comprehensive Sponsors:
Bank of America
Huntington National Bank
Level One Bank
The Private Bank
Wells Fargo Bank
The Pre-Purchase program covers many important topics, including:
Our certified counselors help homebuyers qualify for loans, avoid predatory lending, prepare documentation, organize their financial planning, and make good decisions for the future. We also discuss different options for down payment assistance from various government sources.
Prior to participating in Pre-Purchase counseling, future homeowners must first complete a Homebuyer Education course (see above).
All the programs listed below require the successful completion of Homebuyer Education. A certificate from Southwest Economic Solutions’ class will meet that requirement.
Detroit HomeLIFT is a national program from Wells Fargo and NeighborWorks® America. It provides eligible homebuyers with $15,000 to use toward down payment and closing costs on qualified homes. More information available here: www.swsol.org/lift.
Detroit Home Mortgage is a collaborative program designed to solve Detroit’s appraisal gap problem and make it easier to get a mortgage. It enables banks to lend qualified homebuyers the full amount needed to buy and rehabilitate homes anywhere in the city. More information available here: www.detroithomemortgage.org.
Liberty Bank’s Home Restoration Program provides affordable loans to qualified residents who successfully bid in the Neighbors Wanted auction. You can take advantage of the exciting program features, such as:
Qualified Borrowers must:
You can learn more about Liberty Bank’s program by contacting the Detroit Office of Liberty Bank at 313.873.3311. If you have any questions about this or any other pre-purchase program we have with our partners (Detroit Land Bank, Liberty Bank, CHASE Bank, Central Detroit Christian, U-SNAP-BAC), contact our pre-purchase counselor.
454 of those families purchased homes