Step 1: Housing Counseling

Homebuyer contacts one of the NSP2/CPLC’s approved Housing Counseling Departments from the list below.

After talking to a CPLC Counselor, you will have to fill out an application, which is located here:

English NSP2 Application.pdf [881 Kb 11/11/2011]

Spanish NSP2 Application.pdf [861 Kb 11/11/2011]

The following will be completed with the Housing Counselor during a scheduled in-person meeting:

A) One- on- One Eligibility Assessment
B) Run a Pull- Tri Merge Credit Report
C) Credit Assessment
D) Assist homebuyer with preparations with bank package for lender’s review for loan

For the initial meeting you will need to bring the following items and anything else that the application requires so please read carefully:

1. Two months recent pay stubs (For everyone in the household 18 years or older)
2. Two months or recent bank statements for all asset/cash accounts (all pages)
3. Last three years federal income tax returns
4. Picture ID for applicants
5. Documentation of divorce decree all pages ( If it applies to you)
6. Social Security Card for applicants ( those with work only must bring residence card)
7. The payment to run a credit report must be a money order payable to CPLC ( $14.25 for one borrower or $28.50 for two borrowers)

Step 2: Lending Process

If a lender is not already chosen, the homebuyer will receive from a Housing Counselor, a minimum of three contacts for lenders for a home mortgage loan.

If you have already been approved for a loan to purchase a home, you will still need to submit the following items to your housing counselor for down payment assistance:

• Copy of 1003, Loan Approval, Good Faith Estimate and Truth in Lending
• Copy of Purchase Contract along with a listing of the subject property
• Copy of property evaluation report

Together, you and your real estate agent will start looking at homes. Real estate sales agents generally have access to the Multiple Listing Service (MLS) where hundreds of homes are listed for sale. Your agent will search the MLS for homes in your areas of interest. One thing that is important to remember is that all of the CPLC homes are located within approved census tracts. Your agent will know how to access the CPLC approved census tracts to locate homes for you.

You and your agent will make plans to view available NSP2 homes, and once you select one the agent will prepare a Purchase Contract to submit on your behalf. Once the offer is accepted by CPLC the contract along with your earnest money deposit will be sent to the title company to start the process.

To view a list of Lenders Click Here

To view a list of Certified Brokers Click Here

Step 3: Homebuyer Education Class

Once the potential homebuyer meets with a Housing Counselor and has completed a One- on One Session and has been approved, they will then need to sign up to take a required 8 hour Homebuyer Education Class to prepare them in the steps to becoming a Certified Homeowner.

This one time class can be taken in English or in Spanish. The class informs and help participants learn about budgeting, taxes, insurance, closing costs, maintenance and money management. They can be taken before scheduling an appointment with a counselor, but are highly recommended to be taken after talking to a housing counselor. CPLC’s Homebuyer Education Workshops are fun and educational. They are very informative and strive to help prepare families to purchase a home easily and efficiently.

For more information about signing up for a Homebuyer Workshop class, please call one of the Housing Agencies or CPLC’s Housing Agencies.



Housing Counseling | Lending Process | Homebuyer Education Class