If you're a first time homebuyer, understanding the process before you find the house of your dreams is a good idea. Four HUD-certified housing organizations would be happy to help walk you through the homebuying process.
Learn what services these organizations provide and where you can find additional information about buying a home.
Westchester Residential Opportunities
470 Mamaroneck Avenue – Suite 410
White Plains, New York 10605
Tel: (914) 428-4507
What services do these organizations provide?
The Westchester Housing Action Council (HAC) provides counseling for households looking to purchase their first home, including an overview of what to expect in the homebuying process. Information about the homebuying process, including the roles of an engineer, attorney and realtor are covered. Customers get help in analyzing their credit. Consumers are encouraged to come in for counseling for many month or in some cases years before applying for a mortgage.
HAC is a participating member of the New York State Mortgage Coalition, an effort by 9 banks and a number of community organization throughout the metropolitan area who are committed to increasing homeownership opportunities for moderate income individuals and families.
Westchester Residential Opportunities (WRO) is a federal Housing and Urban Development (HUD) – Certified home buying agency in the County. Trained and experienced counselors can review your household financial situation and make recommendations to help you prepare to become a home buyer. The counselor will provide information on topics such as down payment, closing costs, first mortgage, PITI, and points and walk you through the home purchasing process. You can also find out how much home you can afford.
Human Development Services of Westchester (HDSW) is a HUD-Approved Housing Counseling Agency serving Westchester County. It is also the designated Neighborhood Preservation Company (NPC) for the Village of Port Chester, with the goals of increasing and preserving affordable housing, and neighborhood stabilization, for village residents
HDSW’s bilingual and multicultural staff provides assistance to individuals and families interested in purchasing their first home through a variety of services. Confidential, one-on-one counseling is available to review current financial situation, go over credit reports, and develop the best possible strategy to afford a home within budget. In addition, the agency offers group workshops and accelerated counseling to prospective homebuyers who are currently in contract and need to fulfill homebuyer counseling requirements in a timely manner.
Where else can I obtain information on buying a home?
Visit the federal Department of Housing and Urban Development (HUD) Web site, where you can access “100 Questions and Answers About Buying A New Home.” Check out the "Buying a Home Section." It includes information about affordability, your rights, how to shop for a home and how to make an offer.
Another good site is maintained by the Government National Mortgage Association, also known as “GinnieMae.” GinnieMae is a federally sponsored agency that helps secure and guarantee the issuance of home mortgages. This site offers a number of helpful tools, such as an easy to use calculator to help you compare your income and consumer debt against an affordable mortgage.