Idaho Partners for Home Buyer Education, Inc. and St. Vincent de Paul Introduce Home Buyer Education Program to Coeur d’Alene

COEUR D’ALENE – A new statewide home buyer education program—Finally Home!—is being introduced on Monday, July 19 at 11:00 a.m. at St. Vincent de Paul, 108 East Walnut. Speakers at the reception will include Mark Dunham, chairman of the Idaho Partners for Home Buyer Education (IPHBE), Jim Lau, president of the IPHBE and Lynn Peterson, executive director of St. Vincent de Paul.

The Idaho Partners for Home Buyer Education, Inc. (IPHBE) was created by a group of organizations interested in promoting home buyer education throughout Idaho. The organization was formed in response to one of former Governor Batt’s Affordable Housing Task Force recommendations and led by the Idaho Housing and Finance Association (IHFA). IHFA, along with other housing-related organizations, developed the home buyer education program to be implemented throughout the state, with the aid of Regional Training Partners.

St. Vincent de Paul is the IPHBE partner for North Idaho. There are five other Regional Training Partners offering home buyer education classes at no cost to participants: Neighborhood Housing Services, Inc. in Boise, Pocatello Neighborhood Housing Services, the Community Action Agency, Inc. in Lewiston, the College of Southern Idaho in Twin Falls and the Idaho Falls Board of Realtors®.

Funding for the education initiative comes from IHFA, the U.S. Department of Housing and Urban Development, U.S. Bank, Bank of America, First Security Bank, N.A. and Fannie Mae. St. Vincent de Paul received a special grant from Washington Trust Bank to conduct their Coeur d’Alene classes. The IPHBE will manage implementation and administration of the program’s four objectives:

• to develop programs of quality standardized home buying and home ownership education,
  

• to facilitate wide delivery of its home buying and home owner educational programs throughout Idaho;
  

• to target its educational programs to reach diversified markets, including various socioeconomic groups—specifically low and moderate-income households and first-time home buyers; and
  

• to enhance the lives of citizens throughout Idaho, as well as the participating communities, by providing better home buying and home ownership education.

Qualified industry professionals volunteer their time as instructors and teach home buyer education to potential or existing home owners in a traditional classroom setting. Participants are required to spend six to eight hours in the class to successfully complete the course. Lenders around the state are offering various incentives to potential home buyers for their participation, including qualifying for down-payment assistance, reduced mortgage insurance premiums and access to special loan programs.

"When home buyers are educated about the process of purchasing a house, they become more successful home owners," said Gerald Hunter, IHFA president and executive director. "This, in turn, leads to lower default rates and healthier neighborhoods. It’s a winning situation for everyone involved—home buyers, lenders and communities."

Membership in IPHBE, Inc. is open to organizations statewide. For more information on Finally Home! contact Darlene Joyce at 208-331-4847.