All borrowers who are party to the note must attend pre and post-purchase 1-on-1 housing counseling with an approved Housing Counseling Agency. The City of Bremerton is proud to partner with the American Financial Solutions to provide housing counseling.
The purpose of pre-purchase counseling is to prepare borrowers for successful homeownership. A full budget assessment includes review of income and expenses and setting financial goals will be completed, as well as education and review of the borrower's credit report. The housing counselor will also assist with planning and budgeting for expenses as a homeowner.
Post-purchase counseling should be completed within 3-6 months after the loan closes and includes review and updating of the borrower's budget, updating of financial goals, and other education and planning tips to help the borrower's continue down the road of successful homeownership.
Housing counseling is free to the borrower's at the time of service, however upon the closing of the loan a $250 fee will be paid to the Housing Counseling agency directly from the down payment funds.
Make An Appointment
The borrower is responsible for contacting the Housing Counseling Agency and making an appointment for counseling. Financial information, such as pay stubs, bills, and bank statements must be brought to both the pre and post purchase counseling sessions. All personal and financial information will be kept confidential by the Housing Counseling Agency.