HOME BUYING GUIDES

FOUR SIMPLE STEPS TO HOMEOWNERSHIP!

1. Check to see if you are income-eligible for a 50% County Median Income (CMI) unit or an 80% CMI unit.
2. Download an application, complete it, and return it to 2101 Victory Street #C, La Crosse, WI 54601.
3. Find the house you want to buy. Call 608-782-5525 to arrange a viewing/tour.
4. Contact a participating lender to apply for/qualify for mortgage financing.

Our Lending Partner(s)
Contact our lending partner(s) for mortgage qualification:

Julie Berg WHEDA and other loan options available Assistant Vice President, Mortgage Lending Citizens Bank 620 Main Street La Crosse WI 54601

Phone: (608) 785-2265 Fax: (608) 785-2275 Email: jrasmussen@citizensstatebank.us Website: www.citizensstatebank.us

The topics covered in the counseling curriculum include:

1. Renting vs. Buying
   This section helps potential homeowners delve into the question of whether they are ready to purchase their first home by examining costs, benefits, and disadvantages of renting and buying.
2. How Much Can I Afford? Building a spending plan is an important step when purchasing a home. This section requires participants to develop a budget and savings plan while looking at household income to determine the amount of home the family can afford. This chapter also provides useful tips on saving money to help with home purchase and maintenance.
3. Credit Reports Many individuals do not realize the importance of a credit score when choosing to purchase a home. This chapter defines what a credit score is, how to increase your score, how to use credit wisely, and how bad credit can affect the loans for which you may qualify.
4. Applying for a Loan Predatory lending is a growing phenomenon, which is why this section is important in educating potential homebuyers on the types of loans available, how to compare mortgage loans, and how to avoid predatory lenders. This section also includes information on fair housing rights.
5. Looking for a Home Finding the right home is the most exciting step in the homebuyer process. This chapter provides a housing priorities checklist for families to complete before they begin the search for their first home as well as a housing checklist that can be filled out for each home viewed. The homebuyer counselor also walks clients through the process of writing an Offer to Purchase, including contingencies homebuyers may want to include. Finally, this chapter encourages homebuyer to schedule a home inspection before committing to a purchase.
6. Purchasing a Home The final chapter walks potential homebuyers through the closing process, including copies of the actual documents that they will see at the closing table. Homebuyer counselors explore each of the documents explaining the requirements and intricacies of each form. This chapter closes with a home maintenance checklist for new homeowners outlining simple repairs that can be done to preserve the value of their new home.

Income Limits for Coulee Community Land Trust housing
To qualify to purchase a Coulee CLT home, a household must have sufficient income to afford the mortgage and must have an income below 80% of the county median income for the county where the house is located.

County median income levels are listed below by household size. Please note that anyone who will live in the household is counted, as is each person’s income. Unborn children do not count as a person when counting household size.

County	1-person	2-person	3-person	4-person	5-person	6-person	7-person	8-person
La Crosse	$38,300	$43,800	$49,250	$54,700	$59,100	$63,500	$67,850	$72,250
Monroe	$34,550	$39,450	$44,400	$49,300	$53,250	$57,200	$61,150	$65,100
Crawford	$33,550	$38,350	$43,150	$47,900	$51,750	$55,600	$59,400	$63,250
Vernon	$33,550	$38,350	$43,150	$47,900	$51,750	$55,600	$59,400	$63,250