AEOA’s homeownership program includes education and counseling as well as assistance with down payment and closing costs.
WTIP volunteer Tracy Benson spoke with Leah Hall of the Arrowhead Economic Opportunity Agency on North Shore Morning.
The program is for first time home buyers but also those who have not owned in the last three years.
AEOA's Homeownership Program (http://www.aeoa.org/housing/homeownership) is designed to promote and encourage homeownership by providing down payment and closing cost loans to income-eligible, qualified buyers.
AEOA conducts a series of Homestretch Workshops, open to anyone interested in learning how to buy a home. It is designed to give prospective homebuyers an understanding and knowledge of:
How real estate transactions work
Qualifications of homebuyer financing
Responsibilities of homeownership
Potential buyer must attend the complete series of the Homestretch Workshops.
Buyer must complete the Homestretch Workshops and 1-on-1 counseling to qualify for AEOA financial assistance
Potential buyer must qualify for a mortgage. The Counselor will assist homebuyers in shopping for an appropriate mortgage.
Family income must be at or below 80% of the area median income in St. Louis, Cook, and Lake County (Please call if you are uncertain that you qualify).
Potential buyer must be a first-time homebuyer.