VHDA'S Free Homeownership Class Helps First-Time Homebuyers

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I couldn't believe how much money I was throwing away each year - I knew I had to do something

After living in an apartment in Hampton for several years, Genea did some simple math and realized how much she had been spending on rent. "I couldn't believe how much money I was throwing away each year - I knew I had to do something," she said.

That "something" came in the form of a Virginia Housing Development Authority homeownership education class she read about in her local newspaper. Genea jumped at the opportunity.

As a full-time accounts receivable professional for a local non-profit organization, Genea was pleased to find a class time that fit her schedule. She was even more impressed with the knowledgeable VHDA instructor. "My instructor was wonderful," said Genea. "The most beneficial information dealt with the role of the lender and the importance of a person's creditworthiness. At the end of the class, it all fit together like a puzzle."

After completing the class, Genea qualified for a VHDA home loan. She remembers the exact date that she closed on her property. "I purchased my home on October 23, 2008," she said. "This class was worth my time because it changed my life - VHDA provided a great gift to the community by sponsoring this course."

VHDA homeownership education classes cover topics including credit issues, personal finances, home inspections, the role of lenders and real estate agents, and the closing process. In addition to helping people understand the home buying process, the completion of a homeownership education class is now required of all borrowers before applying for a VHDA home loan.

"VHDA addresses the needs of many underserved households in the Commonwealth," said VHDA Executive Director Susan Dewey. "With the success of hundreds of our homeownership class participants, we are pleased that many Virginians can now realize the American Dream."
Are you interested in taking a free VHDA Homeownership Class? Sign up for an in-person or online class at http://www.vhdafreeclass.com.


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