The dream of owning your own home can become a reality according to Sherry West, Director of County Coordinators for Deep Fork Community Action.
"We have a home buyer education class scheduled for Saturday, August 13," said West. "The class will be from 9:00 a.m. until 5:00 p.m. , at the Okmulgee First Baptist Church gymnasium, 5th and Seminole."
Denise Robison, Home Program Director, stated that the class will cover the entire home buying process from the beginning, such as doing a budget, working with Realtors, obtaining a mortgage, the closing process and after the home buyer is actually in the home.
"We will have loan officers, Realtors, loan closers and many other speakers that are conducive to helping new home owners through the process of owning their home," said Robison.
West said there could be some confusion as to who would qualify as a first time home buyer.
"People are eligible for this program if they have not owned a home in the past three years," explained West. "Many people think they can't qualify if they have ever owned a home in their life-time. That isn't correct."
"One of the programs we are stressing is the TOPS program, which is 'targeted home ownership'," said West. "If anyone in the home is disabled, including children, they could qualify for a $4,000 down payment program."
A $4,000 down payment closing cost program is through the Federal Home Loan Bank of Topeka , Kansas .
"That money will become available on September 1, 2005 ," said Robison. "Members of that bank here in Okmulgee County are Okmulgee First National Bank, Citizens Security Bank, Henryetta First National Bank and Morris State Bank."
Another program is the American Dream Down-payment Initiative (ADDI) and it can provide up to $5,000 in down-payment costs.
"There are income guidelines for this program," said Robison. "This program covers Creek, Okmulgee , Okfuskee, McIntosh, Wagoner and Muskogee Counties ."
People that qualify for these programs must be able to obtain a loan or mortgage from a lender.
"As long as they income qualify, then we can try and help them through these programs," Robison illustrated. "We can also do an 'owner finance' home. So, if they can find someone that will sell them a house and finance it, then we can help them that way."
"If someone has less-than-perfect credit, it gives them an option to own a home," said West.
The training session will also include several videos that have been produced by Deep Fork Community Action Agency, covering how to inspect a house before buying, budgeting, joy of owning your own home and a video to help the home-buyer after the house has been bought.
At the training on August 13, lunch will be provided.
Robison would like everyone planning on attending the class, to please contact her or Sherry West at 756-2826.
Income guidelines for Okmulgee County are as follows:
Low Income: 1 person in household annual income is $22,950; 2 person household-$26,250; 3 person household-$29,500; 4 person household-$32,800; 5 person household-$35,400; 6 person household-$38,050; 7 person household-$40,650 and an 8 person household-$43,300.
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