Considering purchasing your first home? The City offers free classes to prepare first-time homebuyers for purchase and ownership of their new home.
This class covers the pros and cons of homeownership, saving and preparing for purchase, and what to expect up to closing day. Below are a few of the subjects covered:
- Terms used and what they mean (capacity, character, escrow, ratios, etc.).
- Types of insurance available and what you need.
- Types of loans, what is best for you.
- Choosing a lender, real estate agent, inspector and more.
- Expenses that come with owning a home.
- Planning how much home you can afford.
- Choosing a location, type of home and what your home must have.
- Closing documents
Due to COVID-19, the Homebuyer Education Class has switched to an online format. Those wishing to participate can request a digital copy of the training materials by filling out the form below. After studying the materials, email Homebuyers Assistance to request the 25 question exam.
A certificate of successful completion is issued with a score of 80% or more. Anyone wishing to take part in the City of Stillwater Down Payment assistance is required to take and pass this education component.