Thistle's Guide to Future Homeownership
Thistle Community Housing is not only committed to balancing your housing costs with your overall income to support economic opportunity for you and your family, but we are also committed to wealth building and empowerment that can come with homeownership. Owning a home can be an intimidating process, so Thistle has worked to put together a list of helpful notes below to learn more, at your own pace. These resources are meant to act as a central hub to find information that can help you through the home-buying process, at any time. The links below contain basic checkpoints and an overview of the home-buying process as a whole. These lists are not exhaustive and outside resources will be helpful in addition to those below.
Credit Scores
Credit Scores are based on your credit history which includes information regarding bank and credit card accounts, debts, repayments, etc. Scores are used as a tool to inform lenders whether or not payments will be made back to them in a timely manner. Below are ways to understand and improve your credit score and increase your chances of buying a home. Homeowners will likely not be considered unless their score is 625 or higher; however, there are ways to bring your score up if it is currently below that.
Homeownership-Related Classes
There are ample FREE classes available throughout the year within Boulder County to supply a wide variety of information regarding homeownership. Topics include budgeting, credit and credit scores, resources for down payment assistance, mortgage financing options, etc. Additionally, there is an opportunity to meet with a personal finance coach free of charge. Registration for these classes and financial coaching can be found under each link.
Financial Opportunities
Below are resources to assist future homeowners. Owning a home can often feel out of reach, but these resources may assist with down payments, mortgage options, and financial literacy. Please read the qualifications for each financial opportunity as they vary depending on the type.
Bank Information
Heading to your local bank might be the first step on your path to homeownership. This will be your central hub for all things mortgage, interest rates, and more! These resources should give you some background information that will help you through the conversations you will be having regarding your potential new home purchase.