Homeland Process Overview Checklist

This checklist is neither exhaustive nor set in stone, but it clarifies the grant process for first-time homebuyers.

• Visit the ACCT office or our website to learn about the program
• Complete the ACCT single-family home application, which you can pick up at our office or download from the web
• You will be asked for information about your income and your living situation, as well as landlord and credit references
• Complete homebuyer education
• Homebuyer education will help you determine if you are ready to buy a home and help you understand the process. They will also direct you to banks or mortgage companies to get prequalified for a loan. To register for the class, contact Kim Bina at Neighborworks of Western Vermont, 438-2303 x 216.
• See a lender about getting prequalified for a mortgage
• Sign a Purchase and Sale agreement for the home you would like to buy
• Be sure to include a financing contingency making the agreement contingent upon receipt of a Homeland grant.
• Return to ACCT to fill out an affordability worksheet
• How affordable a house is for you depends on the purchase price, your income, your eligibility for grants and low interest loans, and the debts you are already paying (e.g. car, school)
• ACCT sends the worksheet, loan commitment, and purchase & sale agreement to VHCB; VHCB commits to the Homeland grant
• Get a third-party inspection
• Notify ACCT so a staff member can attend
• The lender orders an appraisal
• Go to closing

Back to The Application Process