The Housing Counseling Program provides free classes and individual counseling helping more than 9,500 potential first-time homebuyers and homeowners. Monthly classes focus on topics not taught in regular school including understanding credit, credit repair, money management, saving plans, grant programs and understanding the home buying process including selecting a realtor and finding the best mortgage.
Genesis Housing Corporation is a certified U.S. Department of Housing and Urban Development (HUD) Housing Counseling Agency. Genesis Housing Corporation is also an approved Counseling Agency for FannieMae and PA Housing Finance Agency (PHFA). Providing HUD and PHFA approved counseling allows a qualified applicant to participate in special bank programs and the state programs which can often benefit home buyers. Genesis Housing Corporation is also an approved agency for housing counseling grant programs including the Montgomery County First-time Home Buyers Program, Norristown’s First-time Home Buyers Program and Federal Home Loan Bank’s First Front Door Program. These programs allow more families to become homebuyers by reducing the amount of savings required for down payments and closing costs.
Housing Counseling Classes
Class #1: Understanding Credit
- Understand credit reporting
- Obtain a free credit report from all major credit bureaus
- Learn how to improve your credit score
Class #2: Money Management
- Setting up a working budget – “It’s more than just the bills”
- How does current spending impact future financial options
- Prioritizing spending in tough economic times
- Dealing with debt and developing a savings plan
Class #3: Home Buying Basics
- Understanding the home buying process – realtors, agreement of sale, mortgages, inspections, insurance and more
- Learn about grant and loan programs for homebuyers
Genesis Housing offers monthly classes in Norristown. Classes are offered in other Montgomery County locations several times per year. Classes are free but registration is required.
Here is an overview on credit scores from the 2018 Montgomery County Housing Fair. https://www.youtube.com/watch?v=kOvdILXly60.