Housing counseling guides buyers through a complex market
Spring is one of the most popular times of the year for homebuying. With more homes on the market, favorable weather for house hunting, and new financial opportunities, it is the perfect season for prospective buyers to take the leap into homeownership.
However, purchasing a home can be a challenging process, and market swings, shifting mortgage rates, and low housing stock often make things even more difficult. For first-time homebuyers who have never experienced the process firsthand and in communities where homeownership is still rare, it can be especially hard.
As the market gets increasingly complex, housing counselors play a critical role in providing the professional expertise – and personal encouragement – to navigate the homebuying journey. Some of the benefits of housing counseling include:
Understanding Finances: A housing counselor can help assess financial readiness, review credit reports, and develop a budget tailored to homeownership.
Navigating the Mortgage Process: With numerous loan options available, a counselor can assist in finding the best mortgage for you and explain down payment assistance programs.
Avoiding Costly Mistakes: First-time homebuyers often face unexpected challenges. A housing counselor provides expert guidance to help avoid common pitfalls and make informed decisions.
Tax season also coincides with the spring homebuying season, presenting a great opportunity for those looking to buy a home to take financial steps toward their goal by boosting a down payment, covering closing costs, or paying down debt.
Jonathan Weaver, MVI Senior Housing Counselor, presents the importance of housing counseling to Realtors in training at the Realtors Association of Metropolitan Pittsburgh (RAMP).
Mon Valley Initiative’s Jonathan Weaver, Senior Housing Counselor, and Dana Hodge II, Director of Housing Counseling & HUD Intermediary, are both certified in housing counseling from the US Department of Housing and Urban Development (HUD). HUD-certified housing counselors are trained to provide unbiased, expert advice on homeownership and create step-by-step plans to assist prospective buyers.
“Being HUD-certified provides a level of confidence that we’re providing reliable guidance tailored to individual financial situations. It means you’re dealing with someone who has passed a pretty stringent testing process, and we’re expected to adhere to important ethical and professional standards,” Jonathan said. “Homebuying can be a tough road, and we respect the level of trust people are putting in us to guide them on that path.”
Since the beginning of the year, MVI’s Housing Counseling team has helped over 50 people at various points in their homebuying journey. As with all of MVI’s programming, enrolling in housing counseling is completely free.
For those considering homeownership, preparation is key. Working with a HUD-certified housing counselor, developing a financial plan, and using tax refunds wisely can provide a strong foundation for homeownership. With the right guidance, prospective buyers can enter the market with confidence and financial stability.
To learn more about HUD housing counseling, click here.
Jonathan is partnering with Human Services Center Mon Valley (HSCMV) for an upcoming home buyer webinar on April 22 at 6 P.M. You can register at hscmonvalley.org/monthly-webinar. For other presentations, including Jonathan’s regular Homebuyer’s Club, follow our Facebook and YouTube Channel.
If you or someone you know are looking to start their homebuying journey, contact our free housing counseling program at 412-464-4000 ext. 4008 or email jweaver@monvalleyinitiative.com.