How Does The Helping People Buy Program Work?
STEP 1 - SCHEDULE PRESENTATION APPOINTMENT
The first step for the Helping People Buy Program is to schedule a presentation appointment. During this 30/minute appointment we will present to you a complete overview of how we can help people with less than perfect credit get the good credit that they deserve. This comprehensive presentation is a requirement for all participants who want to access our services.
STEP 2- START CREDIT REPAIR PROCESS
Upon completion of your presentation appointment, you will have an opportunity to sign up for credit repair and receive a 1-on-1 evaluation of your financial situation.
PLEASE NOTE: There is a $150 set up fee to start the credit repair process. This includes step-by-step instructions on how we will help to restore your less than perfect credit, a copy of your FICO tri-merge credit report and a written detailed plan of action on how to resolve your credit issues.
STEP 3 - LET'S TALK ABOUT CREDIT
Your credit history is a record of what you have borrowed and how you have repaid it. Paying your creditors on time will help you build a good credit record. Late or sporadic payments will result in a poor credit report. This information is collected and compiled by the three credit reporting agencies: Equifax, Experian, and Trans Union.
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How Does Our Home Buying
STEP 4 - DECIDE WHAT IS AFFORDABLE
The Helping People Buy Program can assist participants who would like to become homeowners with a thorough analysis of their financial situation to determine whether they can afford a future monthly mortgage, taxes, and insurance payments. This process will take into account the following:
• Income/Employment History
• Debt-to-Income Ratio• Down Payment (Proof of Funds)
STEP 5 - MORTGAGE LOAN APPROVAL
Once a participant's credit score meets the current lending requirements participants can apply for a mortgage loan through a lender of their choice, they will provide the necessary documentation needed to be approved for a home mortgage loan.
STEP 6 - FINDING THE RIGHT HOME
We work with several properties throughout the Greater Milwaukee area, and since we are a licensed Real Estate Brokerage, you can use us as your buyer's agent for help with finding a home. Once we locate an affordable home for you, we will help with the entire process of purchasing your new home.
STEP 7 - AGREEMENTS & EARNEST MONEY
Once a participant finds a home, purchase agreement(s) will be drafted. These agreements will state the terms and conditions of your purchase. Participants are also responsible for the earnest money upon signing.
STEP 8 - HOME INSPECTION & REPAIRS
In order to ensure that the condition of the home meets industry-standards, participants will be required to hire a Wisconsin State Licensed Home Inspector to inspect the property. Once the home inspection is completed and if there are repairs that are needed only professional contractors will be hired.
STEP 9 - CLOSING ON THE LOAN
At this time, the down payment and earnest money are credited towards the purchase price. The closing costs are calculated and paperwork is signed. Once the closing is completed the deed is transferred from the seller to you.
STEP 10 - THINGS TO DO AFTER CLOSING
Now that you are a homeowner, there are a number of items that you should take care of immediately. From changing the utilities into your name to filing your closing papers in an important place such a safe deposit box at a bank.
YOUR DREAMS OF GOOD CREDIT & HOME OWNERSHIP HAVE COME TRUE!!!