Porchia McMillan®
Frequently Asked Questions
HOW DO I KNOW IF I’M READY TO OWN A HOME?
While there is no single sign that will confirm a person is ready for home ownership, there are a couple cues that will signal it could be your time. If you love the area that you’re living in and you’re planning to stay for a while, you may be ready to settle down and buy a home. If you’ve got a savings plan in order that is allowing you to pay down debt and save a little nest egg, you could be ready for the financial side of home ownership. Finally, if you’ve gotten to be pretty handy around the house, you could be ready for the maintenance that accompanies owning a home.
WHY SHOULD I BUY A HOME INSTEAD OF RENTING ONE?
The real estate market is constantly changing, but often times, it is more cost-efficient to buy a home rather than rent one. Think about it. When you buy, you are investing in your own future. When you rent, you are helping your landlord to invest in his or her future! There also are financial perks like tax deductions and home equity that come along with owning a home.
HOW DO I KNOW HOW MUCH HOME I CAN AFFORD?
So that you don’t enter the home-buying process blindly, it is a good idea to meet with a bank or lender, who can help you determine a range of home prices that you may be approved to buy in. Lenders will consider how much a buyer makes, how much debt they have, any assets they own and their credit history before issuing a preapproval letter, which details the amount they can purchase, providing their financial picture does not drastically change during the home-buying process.
DOES CREDIT MATTER?
Did you know the minimum credit score for a conventional loan is 580+? Did you know the minimum credit score for a first time home buyers program or down payment assistance program is 620+? Learn more important information about your credit and the home buying process.
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Partnerships
Community Link
Community Link is a program that has a mission to enable individuals and families to obtain and sustain safe, decent and affordable housing.
Standing on the Core Values of:
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Excellence: We will strive for excellence in everything we do.
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Compassion: We will conduct ourselves in a caring and compassionate manner.
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Inclusion: We will provide a supportive environment that respects the knowledge, abilities and experiences of all individuals.
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Customers: We will be committed to serving the needs of our customers and believe that everyone deserves a safe, decent and affordable place to live.
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Employees: We will provide an environment for our employees that fosters professional growth and personal development.
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Investors: We will be effective stewards of our resources.
Home Partners of America
Home Partners provides responsible households a transparent path to homeownership through its Lease with a Right to Purchase Program. The program provides three to five years* of rent certainty with an initial financial commitment of just one year.