Gateway: Your Path to Homeownership

Gateway: Your Path to Homeownership

Posted on November 7, 2016

Homeownership is a dream most families share. It’s also one of the most important decisions and the largest purchase families are likely to make. To help families navigate housing options and turn this dream into a reality, Self-Help Enterprises, a HUD certified counseling agency, has launched The Gateway: Your Path to Homeownership Program.

Serving as a “one-stop” for families looking to start their housing search or to access one of Self-Help Enterprises’ homeownership programs, Self-Help Enterprises’ homeownership counselors will walk families through the different types of mortgage rates, the effect credit scores have on being approved for a loan, how much down payment is needed for purchase, and how much home is affordable. A tailored action plan will then be developed to assist families in achieving their financial homeownership goals.

Individuals and families will participate in an in-person or online homeownership education class, available in English and Spanish. The homeownership education course covers key topics including:

• Importance of Credit
• The Mortgage Process
• Working with a Realtor
• The Purchase Process
• Mortgage & Down Payment Assistance Programs
• Affordable Housing Opportunities

Homebuyers who take this class have a better understanding of the process, ask smarter questions, and make better informed decisions.

Fee Schedule

• Homebuyer Education In-person Class:  $75 for individual and $25 for each additional borrower on a loan
• Online Homebuyer Education Course:  $99 for individual or married couple
• Credit report fee for one-on-one counseling: $25 for individual or married couple

To get started, prospective homebuyers will need to contact Self-Help Enterprises via phone at (559) 651-1000 or via email at gateway@selfhelpenterprises.org.

An initial counseling appointment will be scheduled and a $25 credit report fee will be collected in order to reserve the counseling appointment. $50 fee will reserve the appointment. The fee covers a credit report and a portion of the homeownership education class fee. After one-on-one counseling session with a staff member to review credit repair, budgeting, and develop a tailored action plan for your financial homeownership goals, you will be registered to attend an education class based on individual needs.

As part of the Gateway Program, Self-Help Enterprises partners with local municipal governments, realtors and mortgage lenders in an effort to provide a range of homeownership opportunities for families residing in Fresno, Kern, Kings, Madera, Mariposa, Merced, Stanislaus and Tulare County.

Self-Help Enterprises’ housing programs include:

• First-Time Homebuyer: Resources and down payment assistance for families looking to become homeowners through traditional avenues.
• Build Your Own Home: Eight to twelve families are grouped together and help each other build their houses with skilled onsite supervision and guidance of Self-Help Enterprises’ construction staff. “Sweat equity” serves as the down payment and monthly mortgage payment is based on the household’s income.
• Manufactured Housing: Assistance to eligible, first-time homebuyers in purchasing manufactured housing units.
• Housing Rehabilitation: Funding assistance to make important health and safety repairs to a home.

Because our programs provide affordable and stable low-interest loans for homebuyers, sustainable homeownership has become a reality for many underserved families in the San Joaquin Valley who may not afford a home otherwise.

To date, Self-Help Enterprises’ housing programs has resulted in successful homeownership for over 24,000 hardworking families.