First Time Homebuyer Program

Pasadena Neighborhood Housing Services' First Time Homebuyers Program (FTHB) is a partnership of lenders, realtors, insurance companies and government partners working together to assist first time homebuyers to fulfill their dreams of homeownership. Established in 1994, our program focuses on education, credit counseling, referrals and financial aid. To date, PNHS has educated thousands of low and moderate income families and assisted over 550 families to fulfill the dream of homeownership.

Next Series of Classes

The next series of First Time Homebuyer classes will be held in July 2008. The dates will be announced soon. To participate, you MUST attend one of the following orientations:

May 29, 2008, 6 - 7 pm
or June 19, 2008, 6 - 7 pm

Fair Oaks Renaissance Plaza
649 N. Fair Oaks, 2nd Floor, Pasadena, CA

PLEASE BE ON TIME! The orientation is a full hour of vital information.

Education

First Time Homebuyers classes prepare you to buy and maintain your first home, with topics ranging from financial literacy, homebuyers education and credit counseling through referrals, down payment and mortgage assistance. Course topics include tools to help you:

• Develop a personal budget and savings plan


• Better understand and manage your credit


• Understand the mortgage loan process


• Understand financial assistance programs avilable to first-time homebuyers (completion of this course fulfills the education requirement for first-time homebuyer assistance programs)


• Work with realtors and lenders


• Manage your mortgage payments


• Understand the tax benefits of homeownership


• Maintain and protect your investment

Counseling

After the classes, participants can arrange to receive free one-on-one counseling to review credit histories and address issues that might prevent them from qualifying for a loan. PNHS is committed to working with our clients until they are financially viable and can be referred to a lender without reservation. Clients are awarded PNHS stamp of approval with a "Mortgage Ready Certificate".

Referrals

While participants have the right to select their own lenders and realtors, PNHS can offer referrals to numerous lender and realtor partners with whom we have maintained a strong relationship, are sensitive to the needs of our clients and familiar with the process of the Home Ownership Program. Families can purchase their first homes using our lender partners' special first-time homebuyers loan products often available only to those who have received homebuyer education from a HUD approved source such as PNHS.

Financial Assistance

PNHS provides down payment and mortgage assistance to low and moderate income families in Los Angeles County. These low interest loans and grants are made possible through our partnerships with city, county, and state government agencies, such as the Los Angeles County Community Development Commission (LACDC); and the CalHFA Homeownership in Revitalization Areas Program (HIRAP). In addition, PNHS has recently partnered with the United Way's IDA program, offering a three-to-one matching savings fund to first time homebuyers. Read more >