Since 1985, the City of Aurora's Home Ownership Assistance Program (HOAP) has been dedicated to making home ownership a reality for Aurora’s low and moderate-income families. As a HUD-approved counseling agency, the HOAP program offers free pre-purchase, foreclosure, pre-foreclosure sale, and reverse equity mortgage counseling, as well as financial assistance to homebuyers. The HOAP staff conducts educational seminars to first-time homebuyers (in English and Spanish), which covers the process of buying and owning a home. HOAP staff also act as a referral service for residents to other service providers within the community.
HOAP Housing Counselors provide:
Pre-Purchase Counseling
Mortgage loan processes can be confusing to first-time homebuyers. HOAP counselors help make the home purchasing process understandable by providing information needed to make well-informed choices concerning special programs available to first-time, low and moderate-income home buyers.
To qualify, you must meet income and program guidelines attend a Homebuyer Education Class and contribute 1% to the purchase of the home. The property must be occupied by the homeowner and not used as a rental property.
Lenders link
Realtors link
Foreclosure Prevention Counseling
HOAP counselors assist homeowners in trying to save their homes from foreclosure by negotiating with the lender(s) and advising homeowners of special programs from HUD and VA, as well as helping the homeowners understand the foreclosure process along with their rights and responsibilities.
Pre-Foreclosure Sale Counseling
The HOAP program provides counseling for this HUD-sponsored program, which allows certain FHA Mortgage holders, in default, to sell their property. The program enables the homeowner to sell their property at a fair market value even if this amount is less than what is owed on the mortgage.
Educational Seminars
The HOAP staff provides educational seminars and fairs on an on-going basis. These seminars help potential first-time homebuyers understand the process of purchasing a home. The seminar addresses Fair Housing-related terminology, financing, credit reports, working with a Realtor and Lender, city codes, caring for a home, responsibilities of home ownership, and much more. Please check the schedule for a list of locations, dates and times.
Loan Programs For First-Time Homebuyers
The loan programs offer up to $10,000 in financial assistance to help qualified, first-time homebuyers cover down payment and closing costs. First-Time Homebuyers Summary
Reverse Mortgage Counseling
The HOAP Staff provides valuable information to senior homeowners who would like to tap into their home equity.
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