PIKE COUNTY, Mo. — It’s probably the biggest purchase you’ll ever make, but it’s also the one you may know the least about.

NECAC hopes to take the fright out of the home-buying plight and put you on the path to the American dream.

The agency is once again offering in-person homeownership classes. It also continues to take 502 Direct Home Loan Program applications. 502 loans are used mostly by income-qualifying people to buy homes in rural areas. Families must be able to afford the mortgage payments, including taxes and insurance. Loans are for 33 years, with the interest rate set by the lender. There is no down payment.

The loans are another option that families in our area have to realize the dream of homeownership. NECAC welcomes the opportunity to put more people on the path to owning a home.

As part of the program, the home ownership classes teach participants about housing opportunities and financing, obstacles to home-ownership, record-keeping, understanding credit, cash flow, meeting with financial institutions, getting a loan, taxes and other topics.

Having everyone on the same page is  especially important for first-time buyers so that they know what to expect. Professionals provide help based upon their experience and knowledge.

For more information about NECAC programs, call the agency at 573-324-6622.

NOTE: Crystal is a certified packager for 502 loans and can walk people through the process, the purpose and eligibility. NECAC tries to make what can be a difficult process easier to understand. The motto is “If you think to can’t, YOU CAN!” Crystal can also talk about the current tough housing market.