Our Mission is to provide the communities we serve homeownership education and professional counseling to purchase a home, refinance an existing home, obtain a HUD Insured Reverse (HECM) Mortgage or to prevent foreclosure. We are a HUD Approved Housing Agency serving people since 1994.
First Time Buyer lending programs have evolved over the last several years that utilize grants, forgivable loans and down payment assistance to revitalize housing in the United States. Many Illinois municipalities participate in distributing funds received from the federal government and other sources. Most of these programs are first come first served and all of them have requirements to qualify. Counseling for first time buyers is the foundation of many of these programs and it is always required to qualify.
Our counseling programs are on a one-on-one setting beginning with an evaluation of the client’s credit history, a discussion of how to develop and maintain a good credit history and the qualification process that lenders use in the underwriting process so they better understand the amount of mortgage for which they qualify. Potential borrowers are exposed to real estate terminology, how to shop for a home, why the mortgage application process works as it does, understanding the role of an appraisal and how a loan closing proceeds. Upon completion of counseling, clients are awarded a Housing Counseling Certificate to present to the lender/program of their choice demonstrating their successful participation.
Mortgage Education Foundation
Homeownership Counseling and Learning Center