Helping Neighbors & Improving Neighborhoods

United Neighbors, Inc. Dream Home Buyers Program

Home Buyer Education Classes

Home ownership classes our requirement of our Down payment Assistance program.
Classes are held on most Mondays at 7 p.m., Persons must attend five classes or two consecutive Saturday classes, which are held every 6 weeks. All classes must be completed. before you can receive Dream down payment assistance. There are no exceptions.

Click here for 2009 Dream Brochure

The Homebuyer education program is designed to support and educate first time homebuyer's about the process and responsibilities involved in pursuing, purchasing, and owning a home. We have expanded our Dream Classes by another two hours. Class number six incorporates focus on teaching new homebuyers about the pitfalls of bad loans. Many first-time homebuyers are not aware of a good time to refinance. A standard rule of thumb of is: a reduction of 2% in interest rate may be worth refinancing. Many times homeowners do not look for additional charges or increased closing costs that would make that very same refinance a bad or predatory loan. Additionally, over the last several years, these refinances have stripped the equity out of their homes. Homeowners wind up using secured assets to pay off unsecured debt, such as credit cards. United Neighbors uses educational information from National Community Reinvestment Coalition, Neighbor Works America, IHOEP, Iowa Finance Authority and Americans for Fairness in Lending. Class six focuses on how to spot predatory loans, protect their investment, and most importantly to seek delinquency and foreclosure assistance before a bad loan costs them their home.

More than 2,000 individuals and families have purchased a home through our DREAM Home buyers Program. Participants in DREAM Home buyers Program will receive up to $1000.00 toward their down payment or closing cost.

Dream Down payment Assistance Program was created to overcome the greatest barrier to homeownership, the down payment. Today, many first-time homebuyers, minorities, and other underserved groups face extreme challenges in their efforts to achieve homeownership. Our goal is to help these individuals and families have access to safe and affordable homes. We meet this goal by removing one of the biggest obstacles in the home buying process providing gift funds for down payment and closing costs. The program provides an opportunity for qualified low to moderate income individuals and families to purchase affordable homes by receiving money for the down payment on a home. Maximum Income guidelines through June 30, 2009 for buyers of homes in the City of Davenport are listed in the side chart.

DREAM participants have two options:

• Track One will provide basic down payment assistance.
• Track Two will provide down payment, repairs and specialized cleaning
• The inspection performed by United Neighbors or other qualified agency for $100.00 fee is included in the closing costs. Lead Paint Visual Risk Assessment and Clearance Test is also performed by a certified inspector. This is at no cost.

.Track Two - Lead-Based Paint Related Repairs
As funding allows, DREAM buyers may opt for repairs that are aimed at reducing lead paint poisoning hazards in the home. Specialized inspections, cleaning and clearance testing assure that the home passes federal standards. Our crew is the most experienced in the area. Depending on the house and the assessment of our program inspector, these can be minor repairs, or may be substantial -- such as window replacement. Track Two participants must allow extra time for this work to be done and must agree to a five-year forgivable loan for the cost of the work. For more information call 563-322-7363

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