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Homebuyers Education & Counseling

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Overview

The Virgin Islands Housing Finance Authority offers a variety of programs and counseling services to prepare first time homebuyers and assist existing homeowners.

Housing Counseling Program

The Housing Counseling program offers personalized counseling services to an individual or family. Counseling focuses on overcoming budget and credit challenges. The duration of counseling is based on the needs of the individual or family.

Upon completion of Housing Counseling, one will have the ability to:

  • Apply sound financial principles
  • Develop a process of overcoming financial indebtedness
  • Identify and modify ineffective money management behaviors
  • Develop successful strategies for achieving your financial goals

Home Buyers Education Program

The Home Buyers Education Program (HBEP) is an instructional guide for first-time
home buyers to learn the entire purchase process step-by-step. HBEP involves a
minimum of 14 hours of structured training.  Instructors are HUD Certified Housing
Counselors and employees of VIHFA.  The program is offered via ZOOM for
seven weeks from 6pm to 8pm on Wednesday’s.  Guest speakers from the
lending industry, real estate community, government agencies (Energy Office,
VIHFA construction managers), legal community, and homeowner’s insurance
community present valuable information.

Upon completion of the HBEP, participants will have a better understanding of:

  • Homeownership Readiness
  • Managing Your Money
  • Understanding Credit
  • Obtaining a Mortgage Loan
  • Shopping for a Home
  • Protecting Your Investment
 

The VIHFA has launched home buyer education classes offered:

  1. Local Certified HUD Counselor (in person) Click here to register now.
  2. eHome America. Click here to register now.

Community Education

The Community Education Program is a marketing and outreach activity designed to increase public awareness of the VIHFA homeownership and homebuyer education programs. These “micro” seminars are offered to community groups, private businesses, or government agencies upon request, tailored to the target audience and can be offered via ZOOM.  Topics offered mirror the seven-week homebuyer education program.

Post-Purchase Counseling

The post-purchase counseling program is a mortgage delinquency and foreclosure prevention counseling program. It involves generalized group counseling sessions followed by individualized counseling as needed. The program incorporates topics such as budgeting and financial management, exploration of refinancing options, and strategies for negotiating with lenders to establish payment plans. The program teaches participants how to read thewarning signs in debt problems and what resources are available to help them in loss mitigation strategies.

Financial Fitness

Financial Fitness training is building consumers’ decision-making skills related to financial matters.

Common topics include:

  • Setting financial goals and making decisions
  • Knowing the importance of savings and investing
  • Developing a budget and spending plan
  • Tracking expenses
  • Getting credit and using it wisely
  • Understanding and repairing credit reports, stressing the importance of paying bills on time
  • Using banking and other financial services
  • Protecting one-self against consumer scams and predatory lending.
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