PRE-PURCHASE COUNSELING

Pre-Purchase counseling guides and educates families and individuals on improving their long-term housing stability and financial well-being.

Clients will participate in specially tailored counseling sessions and/or free virtual Financial Readiness workshops geared towards helping you reach your financial and housing goals.

ENROLLMENT PROCESS
  1. Complete the Enrollment Application using the following link.

    • Pre-Purchase Enrollment Application
      • Application Fee for Single: $50
      • Application Fee for a Couple: $75

      Application Fees are non-refundable and depend on the individuals that plan to be named on a home loan.

      Applicants will submit their fee payment information with the Authorizations & Disclosures in #2.

      Application processing can take up to 2 business days depending on volume of applications. Once your application has been processed, you will be notified via email from education@prosperitycdc.org

      Within 2 business days from the submission of a Full Application consisting of steps 1-3 below, you will receive an email from education@prosperitycdc.org to schedule your counseling appointment. Appointments will not be granted until Steps 1-3 are all completed including the successful processing of the application fee.


  2. Complete the Authorizations & Disclosures

    • Within 2 business days of your Application Submission, you will be sent the appropriate Authorization & Payment forms to sign via SignNow, a secure website.
    • Within 2 business days of the signed & returned Authorization & Payment forms, the fee will be processed.

  3. Submit the REQUESTED DOCUMENTS using the following link. Please complete at the same time as, or within 48 hours of, the Enrollment Application and/or Disclosures submissions.

    • All documents must be submitted in PDF format.

    • Submit documents here

    • Other methods of submission are as follows:

      • Email: education@prosperitycdc.org (PDF Documents only)
      • Fax: 704-938-7431
      • Mail: PO Box 1095; Concord, NC 28026
      • Drop Off: 1660 Garnet St. Kannapolis, NC 28083

    • Please gather and submit the following items: (Additional documents may be requested; however, these are the minimum needed to have a completed application and obtain an appointment.)
      • General
        1. Front Color copy of the Driver’s License
      • Income
        1. 60 days paystubs (or Social Security Statement and/ or Disability Statement)
        2. 2023 Most Recent Years Tax Return and W2’s
        3. Front Color copy of the Driver’s License
        4. If Self-Employed – Most Recent three (3) Years Tax Returns and Year-To-Date Profit and Loss Statement.
      • Assets
        1. Most Recent two (2) months of ALL bank statements
        2. Most Recent Retirement or 401k Statement (if applicable)**
        3. Most Recent of any other asset accounts (brokerage, stock, etc.) **
      • Expense and Debt
        1. Most recent 1- month utilities (phone, water, cable, internet, electric)
        2. Most Recent 1 month of ALL credit card statements
        3. Student loan statement/IDR agreement (if applicable)
        4. Rental Lease (if applicable)

        5. NOTE:

          ** These documents are required, however, they can be provided prior to the scheduled counseling session if not readily available at the time of the application.


HOMEOWNERSHIP COUNSELING

Homeownership Counseling guides and educates families on obtaining and maintaining homeownership in compliance with Fair Housing & Fair Lending Laws.

The client-counselor one-on-one partnership involves a collective, in-depth assessment of the following:

  • Client’s Mortgage Readiness
    • The ability to qualify for loan products and/or Down Payment Assistance based on:
      • Capacity
      • Capital
      • Credit
      • Collateral
  • Client’s Homeownership Readiness
    • The ability to qualify for loan products and/or Down Payment Assistance while simultaneously maintaining an affordable house payment, ongoing maintenance and emergency savings and ongoing household expenses.

Based on the information provided by the applicants, counselors will evaluate and advise on the best loan products, possible down payment assistance eligibility and best long-term sustainability habits.

Prosperity neither approves nor denies receipt of Loan Products or Down Payment Assistance, however will assess clients for eligibility based on the rules and regulations of the various programs, including but not limited to:

  • Availability of Programs
  • Affordability of Programs
  • Family Size vs. Income
  • Location of desired house

One-on-one assessments are a requirement for most down payment and lender programs. The quantity and length of sessions are determined on a case by case situation.