MEDIA RELEASE
(STILLWATER, OKLAHOMA / Feb. 26, 2020) – Considering purchasing your first home, but you have questions? The City of Stillwater now offers free Homebuyers Education Class to prepare first-time homebuyers for the purchase and ownership of their new home. The best part is that completion of the class (along with meeting a few other criteria) may qualify you for financial assistance, such as help on a down payment or closing costs.
Offered once a month, the class will provide education ranging from saving and preparing for purchase all the way to what to expect on closing day.
“The information in this course is something I wish I had going into the purchase of my first home,” Administrative Services Manager Cindy Gibson said. “Any first-time homebuyer from any background can benefit from this information.”
The class offers education on a variety of topics, including:
- Terms used and what they mean (capacity, character, escrow, ratios, etc.)
- Types of insurance available and what you need
- Types of loans, what is best for you
- Choosing a lender, real estate agent, inspector and more
- Expenses that come with owning a home
- Planning how much home you can afford
- Choosing a location, type of home and what your home must have.
- Closing documents
Classes will be held at the Stillwater Municipal Building, 723 S. Lewis St. The class is completed on a computer and at your own pace, but with a monitor to assist and answer questions as needed. Those wishing to attend the class are encouraged to pre-register because seating is limited. The class and a 25-question exam runs between 2.5 to 3 hours.
The class schedule is as follows:
- March 26 - 1 to 4 p.m.
- April 8 - 8:30 to 11:30 a.m.
- May 7 - 1 to 4 pm.
- June 10 - 8:30 to 11:30 a.m.
- July 9 - 1 to 4 p.m.
- August 11 - 8:30 to 11:30 a.m.
Ask about the Homebuyers Assistance Program
The City’s new Homebuyers Assistance Program offers financial assistance for three kinds activities:
- First-time homebuyers to Stillwater
- Low to moderate income buyers who may not be new to Stillwater
- Low to moderate income homeowners who are in need of home repairs
Learn more about the City’s Homebuyer Assistance Program and sign up for our Homebuyer Education Class at Stillwater.org/homebuyer, or contact the Administrative Services division at homebuyers@stillwater.org or 405.742.8345.
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