Housing Opportunity Certification (HOC) Sessions

This class will help real estate licensees understand the basics of credit reports and scoring to assist consumers in becoming financially prepared for homeownership.

(Category F Professional Enhancement, 1.5 hours), Provide an overview of federal financing programs and nationally available lending initiatives that can assist homebuyers in Maryland so that licensees can work with lenders in getting the information to interested buyers. Specific mortgage options and other related financing programs will be discussed, including HUD, Rural Housing, Veterans' Administration, and other national initiatives, such as employers assisted housing, Habitat for Humanity and the changes in the secondary market. The programs which will be featured are primarily targeted to first-time homebuyers and eligible buyers in the workforce who meet certain income guidelines. The class will examine the advantages (and disadvantages) of combing various financial resources to benefit the consumer.

(Category F Professional Enhancement, 1.5 hours) Provide an overview of the www.marylandhomeownership.com website and features available to consumers and licensees. Specific mortgage options and related financing programs and incentives offered by Maryland's housing financing agency and other local entities. These programs are primarily targeted to first time homebuyers and eligible buyers in the workforce who meet certain income guidelines. Additionally, information on homebuyer education and working with housing counselors will be reviewed. There will also be a discussion about foreclosure prevention options for homeowners.

(Category F Professional Enhancement, 1.5 hours) Introduction/General Explanation of Community Development Administration/Maryland State Financing Agency. Downpayment and Closing Cost Assistance Programs. Homebuyer Education. Requirements for Maryland Mortgage Program & MD HomeCredit. Maryland Mortgage Program Product Line.