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First-time Homebuyers

RUPCO’s NeighborWorks® Homeownership Center has a wealth of information and resources to guide potential homeowners through the home buying process to be sure they are ready.

What resources does the Homeownership Center offer to first-time homebuyers?

Homebuyer Information Sessions 

Attending a Homebuyer Information Session is a recommended first step before a potential homebuyer formally applies for Homebuyer Counseling. The session is a brief 1-hour live online session that discusses the benefits of applying for homebuyer counseling and the current resources available for homebuyers. 

Attend an INFORMATION Session

 

First-time Homebuyer Counseling

Buying a home is one of the most significant investments a potential homebuyer can make, and the RUPCO team can help. HUD-Certified counselors provide a free in-depth mortgage readiness assessment where they will review income, credit, budget, and savings to set the path to homeownership. Counselors will also inform of any grants and financial programs available at that time.  

Are you ready to meet with a counselor? Click the button below and follow all instructions on the online portal.

GET STARTED

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Homebuyer Education

  • In-person group homebuyer education
    This program will walk potential homeowners through the home buying process to understand every step when available. They will meet experienced professionals such as attorneys, lenders, home inspectors, realtors, and others who share their local market perspectives. Completing education is required for receiving grants or certain loans. Cost: $99 (subject to change without notice). Please wait for a counselor to refer to education before signing up to ensure it is timely.
  • Online Education Option
    RUPCO has partnered with e-HomeAmerica to provide online education for those that need the convenience of an online version and are required to complete the education course as a condition of receiving grant or specific loan funding. Cost $99 (subject to change without notice). Please wait for a counselor to refer to education before signing up. 

If utilizing a Housing Choice Voucher (Section 8), there will be no charge for in-person education. Online versions through e-HomeAmerica will require payment. Ask a counselor for other fast-track-one on one education options if there is a hardship. 

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Grants for First-time Homebuyers

RUPCO works with local municipalities and other resources to assist eligible low-income, First-time buyers with their home purchases in certain areas. Qualifications for assistance vary depending on funding sources. Our counselors will explain current funding opportunities available during the Homebuyer Information sessions and at the first counseling session and when and how to apply for these funds. Most First-time homeowner funding can be used for down payments, closing costs, and/or post-closing repairs to the home. This assistance is provided at the closing or after closing for home repairs. Most grants have residency restriction terms and other limits and requirements. 

Opportunities Available

Family of homebuyers

Couple holding a sign

Couple holding a sign

Mortgage Loan Programs

RUPCO works with local municipalities and other resources to assist eligible low-income, First-time buyers with their home purchases in certain areas. Qualifications for assistance vary depending on funding sources. Our counselors will explain current funding opportunities available during the Homebuyer Information sessions and at the first counseling session and when and how to apply for these funds. Most First-time homeowner funding can be used for down payments, closing costs, and/or post-closing repairs to the home. This assistance is provided at the closing or after closing for home repairs. Most grants have residency restriction terms and other limits and requirements. 

    • USDA Rural Development 502 Direct Loan Program 
      RUPCO is an approved packager of the USDA Rural Development Section 502 Direct Loan Program. This loan product helps eligible low- and very-low-income applicants obtain decent, safe, and sanitary housing in eligible rural areas through interest rate subsidies allowing higher loan amounts or better affordability. This loan provides 100% financing and can include closing costs and home repair costs worked into the loan if the applicant is eligible. Interest subsidy assistance and eligible loan amount vary based on income, debt, and other factors. Ask a counselor about this loan product or learn more below.
      LEARN MORE
    • SONYMA National Rehabilitation Program (NRP)
      RUPCO is one of the local providers of the required counseling and construction management consulting services for SONYMA’s Neighborhood Revitalization Program, loan product that provides funding to purchase a home with an attached grant for home repair. Potential homeowners must be eligible for a SONYMA loan and apply for it at their local lender and be referred to RUPCO for either/both counseling and construction management.