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HOPE Ministry Center
PO Box 743
Wytheville, VA 24382

Toll Free: (877) 818-8680
Phone: (276) 228-6280
Fax: (276) 228-0508
Email: hope@wythehope.org
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Pre-Purchase Homeownership Planning Process

STEP 1 -  Complete the Pre-Purchase Homeownership Planning Information Packet

Click here for the Pre-Purchase Homeownership Planning Information packet (pdf).

This packet contains several forms that need to be filled out and signed by the applicants. Once completed, return the entire packet with a check or money order payable to HOPE for the credit report fee. A breakdown of the credit report fee is provided below. If you cannot pay this amount, contact HOPE for further assistance.

Credit Report Fee
(subject to change)
Individual Report - unmarried applicant(s)          $23.05 per applicant
Joint Report - married applicants                        $46.10

STEP 2 - Attend Appointment with Housing Counselor to Develop Your Individual Plan for Homeownership

Once HOPE receives your completed information packet, a housing counselor will contact you to set up an initial appointment. At this appointment, the counselor will review your spending plan and credit report with you and assess your housing goals. The counselor will help you understand any credit problems that may need to be addressed and help you establish a plan to correct them.

STEP 3 - Attend a Homebuyer Education Workshop

These workshops are required when participating in the Pre-Purchase Homeownership Planning Process. Homebuyer education workshops are offered in a classroom-style setting at the HOPE Ministry Center on a pre-determined schedule. If you are unable to attend a pre-scheduled workshop, you may complete the required educational components through one-on-one counseling sessions.

STEP 4 - Prepare to Purchase a Home

There are several factors that will determine when you are ready to apply for a home loan and begin shopping for a house. Depending upon your credit worthiness and income, the process can move fairly quickly or may take a bit of time. The chart below will give you an idea of what timeframe to expect based on your current situation.

Where are you now? The timeframe you might expect Your next steps
No credit issues that need to be resolved
Credit score of 640 or higher
Steady, dependable income
Ready to purchase now Step 4: Apply for loan pre-approval
Step 5: Choose a home and make an offer
Step 6: Loan approval and closing
No credit history
Small collection accounts that can be addressed quickly
Current on all recent credit accounts
Steady, dependable income
Ready to purchase within 90 days Step 4: Do necessary credit repair
Step 5: Apply for loan pre-approval
Step 6: Choose a home and make an offer
Step 7: Loan approval and closing
Several outstanding collections that need to be paid
Some missed payments in the past 12 months
Newly employed or recent job change
Ready to purchase within 90-180 days
Unpaid judgments or liens
Recent repossession or bankruptcy (within past 2 years)
Large collection accounts that will take some time to pay off

Ready to purchase over 180 days

For more information about HOPE's Pre-Purchase Homeownership Planning Process, contact us at (276) 228-6280 or homes@wythehope.org.

Printable documents (pdf) on HOPE's website require the free software download Adobe Acrobat Reader.
Serving the counties of Wythe, Bland, Carroll, Grayson and Smyth and the city of Galax

United Way of Wythe County
Send email to hope@wythehope.org with questions or comments about this website.
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Not affiliated with any entity utilizing the unincorporated name.
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