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Making Home Ownership Possible

HOMEOWNERSHIP SERVICES

Making Homeownership Possible

At Southwest Improvement Council (SWIC), we believe that everyone should have the opportunity to own a home.  

HOME BUYER EDUCATION

Current Open Class Date:

May 11th, 2024

Upcoming Classes:

June 8th, 2024

July 13th, 2024

HOUSING COUNSELING

SWIC is a United States Department of Housing and Urban Development (HUD) approved housing counseling agency offering free counseling services on the following subjects:

Pre-Purchasing Counseling

Pre-Purchase Counseling consists of helping future homeowners determine affordability based on current income by preparing a pre-qualification worksheet with the client. Once the pre-qualification worksheet is completed an affordable monthly payment and mortgage loan amount will be determined.

Pre-qualification is not a guarantee of loan approval, only a licensed mortgage originator or mortgage broker can assist with a mortgage loan approval. However, pre-qualification does help determine affordability which in turn can help with setting up future spending plans so that homeownership becomes sustainable.

Additionally, pre-counseling can help determine what obstacles may be standing in the way to homeownership and how to overcome those obstacles such as high debt to income ratios or lower credit scores. The ultimate goal is to get the client ready for future homeownership and eventually a pre-approved mortgage from a licensed lender.

Foreclosure Prevenation / Delinquent Mortgage Counseling

Foreclosure Prevention/ Delinquent Mortgage Counseling is available to homeowners who are in danger of losing their home to foreclosure after becoming delinquent on their mortgage by at least 120 days. Homeowners in Colorado have a foreclosure time frame that is determined at the point of a foreclosure filing with the Public Trustee of the county in which the home is located. Once the foreclosure is filed on the home the Public Trustee will set the sale date of the home for public auction. Homeowners who want to retain the home should reach out to a HUD approved housing counseling agency like Southwest Improvement Council for guidance regarding available options for home retention. This should be done as soon as possible. If a significant amount of time passes after a foreclosure filing, the home becomes more difficult to save it from public auction.

 

This service is FREE. Homeowners should never pay for these services.

Delinquent Mortgage Counseling

Delinquent Mortgage Counseling is available as well when the homeowner is one to three months behind but not in foreclosure. When a loan is delinquent the owner’s credit score takes a hit every 30 days so it’s important to reach out to Southwest Improvement Council as soon as possible. Federal Housing Administration (FHA) loans, Veteran Administration (VA), United States Department of Agriculture (USDA), and Conventional loans all have home retention programs available. SWIC will then work as a third party to help improve communication with the mortgage servicer for quicker decisions. If a foreclosure filing can be avoided, the homeowner can save thousands of dollars in filing and administrative fees. Emergency Mortgage Assistance Funds may also be available from the State of Colorado to help with delinquent back payments.

There is no guarantee that a home retention program will be offered by the mortgage service provider, but frequent communication and updated hardship information can help improve your chances.

Rental Counselling

Rental Counseling is available for individuals and families who want to become informed renters. An informed renter understands their Fair Housing rights, they understand the Warranty of Habitability requirements that landlords must follow, and they know their rights with security deposits. Rental Counseling will help individuals and families become more confident renters, stronger consumers, and possible future homeowners. Southwest Improvement Council will cover the renter’s fair housing rights, provide them with resources for the Colorado Warranty of Habitability, and the counselor will also provide updated referrals for Section 8 programs and rental resources.

There is no charge for SWIC’s Housing Counseling services. Housing Counseling is provided by a HUD Certified Housing Counselor and appointments are available Monday – Friday.

HOME BUYER EDUCATION

Southwest Improvement Council (SWIC) has been providing the Colorado Housing and Finance Authority (CHFA) sponsored homebuyer education classes since 2017. The class is taught and monitored by our HUD Certified Housing Counselor.  The class is held once a month at the SWIC campus.  There is no charge for registration and afterwards each participant receives a signed certificate from the housing counselor.  The certificate is good for one year from the completion of the class.

 

This is a CHFA sponsored class and will meet the CHFA requirements for down payment assistance and for the CHFA first time homebuyer programs.  Most first-time homebuyer programs will accept the certificate for completing your loan education requirements. 

Current Open Class Date:

May 11th, 2024

Subjects Covered

– Budgeting and creating a spending plan.

– Saving for Upfront Expenses 

– Credit and How it Affects the Homebuying Process

– Consumer Laws

– Mortgages

– Real Estate Contracts 

– Property Taxes and Insurance

– Special Tax Districts 

– Refinancing

– Foreclosures 

– Housing Sustainability

 

The class will begin at 9:00 a.m. and end at approximately 3:30 p.m. or sooner.  There is a 45-minute break for lunch. Each class is taught in English only.

 

The class location:  5045 W. 1st Avenue, Denver CO 80219.

Upcoming Classes:

June 8th, 2024

July 13th, 2024

E-HOME AMERICA ONLINE HOMEBUYER EDUCATION

Southwest Improvement Council is a provider of the eHome America Online Homebuyer Education program which is accepted by Colorado Housing and Finance Authority (CHFA) to meet loan education requirements.

Course Requirements

– Each borrower must register for the course to allow for separate
certificates to be provided.

 

– There is a $75.00 charge for each registration.

 

– The class can be taken at the participant’s own pace with no time limits.

 

– A Phone Advisory Session with a SWIC certified housing counselor is
required after the completion of the course.

 

– In most cases the counselor can schedule the phone advisory session within
24 hours of completion. Except for weekends and holidays.

 

– The course must be taken in your primary language. SWIC can only provide
the course in English. Spanish speaking homebuyers should take the course
with a HUD approved Housing Counseling Agency that can provide the
course in Spanish.

El curso debe realizarse en su idioma principal. SWIC sólo puede ofrecer el curso en inglés. Los compradores de vivienda de habla hispana deben realizar el curso con una agencia de asesoramiento de vivienda aprobada por HUD que pueda impartir el curso en español.

TESTIMONIALS