Dream Come True Homeownership Program

Meet Alberta Jones - Our First Success Story

Purpose
The Eufaula Housing Authority and it’s non-profit Eufaula Housing Development, Inc. have teamed up to help potential first time homeowners learn about the home buying process. Certified by the Alabama Homeownership Consortium, the instructor takes a practical approach to teach about buying and owning your own home. 

The class is designed to help potential homebuyers learn about the following:

• Mortgage loan process
• Home buying terminology
• Finding the right house
• Living on a budget
• Credit and credit reports
• Loan closing
• Foreclosure prevention
• Basic home maintenance
• Avoiding predatory lending

So how does it work?
Participants will learn about the entire home buying process from beginning to end. The workshop consists of 6-8 hours of training, usually broken up into two days. Information is presented via power point and participants also receive training materials. The information is practical, the training is informal with plenty of time for questions.

Local banks, realtors, home inspectors, attorneys, appraisers, insurance agents, and fair housing representatives may be invited to come teach about their portion of the homeownership process and address any questions or reservations that a potential homebuyer may have.

Who can attend?
These classes are open to the general public. A special incentive is given to residents of public housing or our Section 8 program as part of the EHA Self-Sufficiency Program.

When?
The workshops are held at least once a quarter. Information will be posted on our website at www.eufaulahousing.com and listed in the Eufaula Tribune.

After the class…
After completing the class, participants receive a certificate of completion, which makes them eligible for down payment assistance programs offered by the Alabama Housing Finance Authority.  Individual counseling sessions (up to eight) may also be scheduled with the following topics:

• Credit Report - How do I read it?
• Budgeting - Let's create a budget!
• Goal Setting - Where do I want to be?
• Computer Classes - Exploring the internet!
• Financial Literacy-Questions I have?
• Am I eligible for down payment assistance?

EHA/EHD, Inc Homeownership Activities
Homeownership activities will be provided in three forms:

• Down payment assistance
• Purchase and rehabilitation of existing homes
• New construction

We are currently focusing on two areas – homeownership education through the workshops listed above and the purchase and rehabilitation of existing homes.

Goal #1:  Educate as many individuals as possible about the advantages of homeownership
Goal #2:  Assist participants in buying their own home
Goal #3:  Purchase and rehab existing homes in the Eufaula area for the following reasons:

• Have homes available for workshop participants
• Help sustain neighborhoods with more homeowners
• Increase tax base for Eufaula area