TIP SHEET: FAQs About Homeownership Resources

frequently asked questions about homeownership and related resources
WHAT DO I NEED TO KNOW BEFORE BUYING A HOUSE?
Obtain and read as much information as possible about homeownership and the home buying process. Start with HUD's Introduction to Homeownership and contact a housing counseling agency about homebuyer education basics.

HOUSING COUNSELING AGENCIES - (Within Metro Atlanta) HOUSING COUNSELING AGENCIES - (Outside Metro Atlanta) ADDITIONAL HOUSING RESOURCES
  1. Affordable Housing Directory - The CHRC maintains a directory of nonprofit organizations, government entities, and for-profit corporations that provide Homebuyer Education Workshops, Credit Counseling, and Down Payment Assistance. Search the Affordable Housing Directory Online for contact information for the various organizations and agencies.
  2. Newspapers - When you're ready to start "house hunting" or just want to check out styles and prices, search the classified section of your local newspaper: Atlanta Journal-Constitution (AJC), Creative Loafing, etc. Also, the "Homefinder" Section in the Sunday edition of the AJC provides information about mortgage loans and interest rates, homebuyer education workshops, particular neighborhoods and subdivisions, and individual homes for sale.
  3. Magazines - Several magazines are available which advertise homes for sale...The Real Estate Book, Real Estate Guide, Homes for Sale, and New Homes America are popular choices.
  4. Real Estate Companies - There are numerous real estate companies available to help you find a house to buy. Talk with friends, family members, and co-workers regarding which companies/agents they found to be most helpful. You can also use a Search Engine OR the Yellow Pages Online to find information on reputable real estate companies and their services.
OTHER CONSIDERATIONS AGENCIES WHICH PROVIDE EMERGENCY MORTGAGE ASSISTANCE (when funds are available)
Emergency Mortgage Assistance helps homeowners, facing a temporary financial hardship, to make their mortgage payment. However, given that funds are limited and the need is great, the organizations listed below may offer referrals when unable to provide direct financial assistance.
DEFINITIONS
Affordable Housing - housing for which the occupant pays no more than 30% of his/her gross income toward the total housing payment, including utilities.
Cost Burden is the extent to which total housing costs, including utilities, exceed an acceptable percentage (30% is the standard) of gross income.
Your questions and comments on this and other CHRC web pages are more than welcome. Thank you for your interest in the CHRC!
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ã Copyright 2000 Community Housing Resource Center
Designed by Esther Omar of the Community Housing Resource Center (CHRC). The mission of the CHRC is to support community groups and organizations dedicated to affordable housing and community revitalization. This Tip Sheet may not be reproduced nor distributed without prior written permission from the Community Housing Resource Center. Updated 9/20/00.