Albany County Rural Housing Alliance, Inc. Service Fees as of 1/1/2024
| Service Provided | Information Covered | Fee |
|---|---|---|
| In-Person Homebuyer Education Workshop *Certificate course *Meets lender requirements *Homebuyer Dream program requirement One 8 Hour Session | Renting vs. Buying-Are you Ready? Money Management (Budgeting and Credit), Understanding Mortgage Loans & Grants, FHA, SONYMA, Shopping for a Home (working with realtors, home inspectors, attorneys, lenders, insurance agents), Making a Purchase Offer, Closing, Avoiding Foreclosure, Home Maintenance, Energy Efficiency, Working with a Contractor. | $50 Class Fee $20 Workbook (optional) Includes speakers, light breakfast, lunch, beverages, and raffled gifts. Fee waiver available for extremely low- income participants |
| Online Homebuyer Education *eHome America *Certificate course (after meeting with a homeownership advisor) *Online class at own pace from your home *Homebuyer Dream accepted Credit Report | Are You Ready To Buy a Home, Managing Your Money, Understanding Credit, Getting a Mortgage Loan, Shopping for a Home, Keeping Your Home and Managing Your Finances | $99 Coupon/Fee waiver available for extremely low-income participants |
| Credit Report *Tri-merge credit report: Experian, Transunion, & Equifax | Scores from all 3 credit reporting agencies- soft pull will not affect credit negatively | $32.60 per person Fee waiver available for extremely low- income participants |
| Foreclosure Prevention Counseling | Assess homeowners' financial situations, providing budgeting guidance, negotiating loan modifications with lenders, etc. | No Fee |
| Pre-Purchase Counseling | Provide guidance on credit, budgeting and financial readiness, explaining mortgage options, assistance programs, etc. | Please see Credit Report Fee |
| Post Purchase Homeownership Education Class One 2.5 Hour Session | Home Maintenance and Repairs, Energy efficiency, Financing, Hiring and Working with Contractors, Homeownership Budgeting and Credit, Being a member of community | No Fee |
| Revolving Loan Fund Application Fee *Processing and underwriting loan application. | Income eligibility, budget, expenses, credit report, loan forms. | $150 Refundable if application denied. May also be wrapped into the loan if granted. **Credit report fee additional |
| Grant Subordination | Income, expenses, use of refinance or new loan, forms. | $150 Non-refundable once process initiated. |
| HOME Down Payment Assistance Grant *Home ownership education *Processing and underwriting application | Home purchase process and pre-qualification Income eligibility, budget, expenses, credit report, loan forms. | $150 Non-refundable once process initiated. |
| Financial Coaching Regular one-on-one sessions with a Coach/mentor leading to performance improvements to meet goals mutually set by the coach and client. | Learn & adhere to positive financial behaviors & financial self-control Budget & Credit review for personal goals Manage Assets & Income Creating personal future plan Credit repair | No Fee |
All 1:1 Counseling sessions: Pre-Purchase Counseling, Foreclosure Prevention Counseling, Financial Coaching/Budgeting Counseling sessions are free of charge. If a credit report is pulled, please see cost above. This is separate from the counseling session, only the cost of the tri-merge credit report is requested. A tri- merge credit report may be provided by the client if it is less than 30 days old.