Homebuyer University: 10/12/2024-11/2/2024

Welcome to Habitat Chicago's Homebuyer University! This page is for your cohort specifically. We will record class information, take-home activities, and any other relevant links as we get them. We recommend bookmarking this page so you can access it throughout the course.

 

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Attendance

  • All classes will take place in person and you will receive directions and instructions via email. 
  • The classes in the course build on each other, and together provide you with a full picture of homebuying. You will get the most out of the course if you attend every class. 

 

Classes 

Classes will take place in person every Saturday morning for 4 weeks. This series of classes will be led by experts in the financial, real-estate and lending fields. Each class will begin at 9:30 am. 

 

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October 12 | Your Homebuying Journey

Time: 9:30 am - 12:30 pm (CST)

Location: Chicago Public Library, Greater Grand Crossing

Description: Get excited about homeownership! We'll review the entire home-buying process, from researching homes to closing, and discuss what to consider and expect when looking for a house and what type of professional help is available to help you find and purchase your home. You also get a chance to think about different neighborhoods in which you might purchase a home. 

Bring to Class:

  • Excitement to get started!

Action-steps after class: 

  • Assess your financial readiness (My Starting Numbers Worksheet)
  • Research neighborhoods! (Neighborhood Assessment Worksheet) 
  • Pull your credit report (My Credit Report Review) 
  • Think about your must haves and nice to haves in your future home (Must Haves and Nice to Haves Worksheet)

 

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October 19 | Financial Preparation for Homeownership

Time: 9:30 am - 12:30 pm (CST)

Location: Chicago Public Library, Greater Grand Crossing

Description: You'll learn about all of the costs of homeownership, and how to estimate and prepare for these costs. We'll also cover the criteria that lenders use to evaluate loan applications. We wrap up with a discussion of credit building and debt reduction strategies. 

Bring to Class:

  • Your Student Binder

Action-steps after class: 

  • Research homes and estimate the costs (Homeownership Costs Worksheet)
  • Estimate your qualifying ratios (My Qualifying Ratios Worksheet)
  • Start to organize your loan application documents (My Loan Document Checklist) 
  • Obtain your credit report and review it (Review my Credit Report Worksheet)
  • Work on your savings plan and budget (Savings and Debt Reduction Goals Worksheet) 
  • Pull your credit report (My Credit Report Review)

 

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October 26 | Mortgages

Time: 9:30 am - 12:30 pm (CST)

Location: Chicago Public Library, Greater Grand Crossing

Description: We'll cover the different loan types available and their implications on your eligibility and costs. You'll learn how to evaluate and compare loan products and lender options. Then, you'll start familiarizing yourself with the documents you will encounter when purchasing your home so you can avoid any surprises. We'll wrap up the entire course with a discussion of how to set up your homeownership action plan.  

Bring to Class:

  • Your Student Binder

Action-steps after class:  

  • Complete the resource survey prior to class 4 
  • Complete the feedback form by November 11th (we will email it after class)
  • Work on your Action Plan (My Homeownership Action Plan Worksheet)

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November 2| Homeownership Resources

Time: 9:30 am - 12:30 pm (CST)

Location: Chicago Public Library, Greater Grand Crossing

Description: This is an optional day, but we highly recommend it! We'll conduct presentations on budgeting and finances, on current down payment assistance options, and you will get a chance to sign up for one-on-one consultations with various lenders, including Habitat Chicago.

When you're not conducting you consultation, you'll have the opportunity to hear about other resources to assist you on you homebuying journey and have the opportunity to meet other professionals in the homebuying industry, such as realtors and housing counselors. 

Bring to Class:

  • Your Student Binder

 

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Worksheets 

 

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Resources 

 

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Homeownership Cost Tools 

 

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Contact a Housing Counseling Agency

 

Center for Changing Lives (CCL)

1955 N. St. Louis Avenue #101, Chicago, IL 60647

773.342.6210

 

Community & Housing Services @ Far South Community Development Corporation 

853 West 115th Street, Chicago, IL, 60643 

773.831.7107

Counselor contact info page: https://farsouthcdc.org/about-ghs-1

 

Great Lakes Credit Union (GLCU)

1011 W. Lawrence Avenue, Chicago, IL 60640

224.252.2620

 

South Side Community Federal Credit Union (SSCFCU)

5401 S. Wentworth Avenue #25, Suite 19E, Chicago, IL 60609

773.548.5500

 

West Cook Homeownership Center

5934 W Lake St, Chicago, IL 60644

773.887.5187

 

 

 

 

Contact Us

If you need to reach the Habitat Chicago team in between classes, you can email us at homeownership@habitatchicago.org or call us at 312-563-0296 x312.

 

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