Referral and Completion of Homebuyer Counseling and Education

All NSP participants will be referred to a HUD-approved housing counseling agency that offers at least eight hours of pre-purchase homebuyer counseling and education. There is NO COST associated with this counseling course. There are three agencies in the El Paso area that provide such homebuyer counseling and that are El Paso Collaborative and HUD-approved:

Completion of Homebuyer Counseling

Homebuyer Counseling covers the following general subjects:

1. Information on various down payment assistance programs
2. Credit counseling and credit report reviews
3. Information on first-time homebuyer issues such as the home-buying process, property selection and obtaining a mortgage
4. Home maintenance
5. Mortgage default

The participant must provide proof of successful completion of homebuyer counseling. No participants will receive NSP2 Homebuyer Assistance without completion of the required counseling course (minimum of 15 days prior to closing).

Attend El Paso Collaborative - Financial Literacy Class

The EPC firmly believes that receiving financial education to make informed decisions about spending, saving, and selecting cost-effective financial products is critical to the lifelong commitment of owning a home. Therefore, the participant will be required to attend a 2-hour financial literacy class offered by the EPC. There is no cost associated with this course.

The course will cover the following subjects:

1. Creating and implementing a household budget
2. Why we should Save! Save! Save!
3. An introduction to credit and how credit history will affect your future
4. Loan to own Know what you are borrowing before you buy

Financial Literacy Classes are held at the following location:

Workforce Solutions Building
1359 Lomaland, GECKO Room
El Paso, TX 79925

Next Class Dates

• Tuesday, August 9, 5:30 – 7:30 pm Gecko
• Wednesday, September 4, 5:30 – 7:30 pm Gecko

*For registration, please call 590-1210, ext.111