The HomeOwnership Center Inc., located at 1404 N. Randolph Ave. in Elkins, strives to help simplify the American dream - to help make the complicated mortgage process easier.
HOC is a private, nonprofit housing counseling agency and equal housing lender providing home ownership opportunities to residents of Randolph and surrounding counties. As a nonprofit licensed mortgage broker, HOC has access to several affordable mortgage loan products that can make the dream of home ownership a reality for many families.
Working with individuals at all income levels, HOC strives to provide home ownership education and counseling, credit and budget counseling and access to mortgage financing options. The primary emphasis is helping to simplify the complicated mortgage process for first-time homebuyers, to assist buyers in becoming mortgage-ready and to make buyers more default-resistant. Current homeowners may be assisted with home repair, refinance, default aversion and credit counseling.
The HomeOwnership Center team includes Becky Weese, housing counselor, sitting in front; and standing, from left, Tawnya Holbrook, loan originator; Rhonda Harris, program assistant; and John Elza, executive director. (Submitted photo)
HOC boasts many accomplishments, such as providing housing counseling and education to more than 200 families - including 114 for initial credit and budget counseling, 32 for follow-up appointments, 54 for homebuyer education classes and five for foreclosure-prevention education.
In 2012, HOC originated or facilitated 36 loans for mortgage or repair assistance, and facilitated the sale of 35 homes for predominately first-time homebuyers. And the center has maintained its status as a funded HUD-approved Housing Counseling Agency, a West Virginia Division of Financial Institutions Licensed Mortgage Broker and a chartered NeighborWorks America member organization.
HOC currently manages a revolving loan portfolio of 76 active borrowers, with loans totaling more than $476,500, and it has received more than $187,800 in new and renewed grant support. The group continues and enhances several marketing and promotion approaches, including market research studies with Davis & Elkins College focusing in part on HOC outcomes in the Belington and Beverly areas.
Serving Randolph, Barbour, Tucker, Upshur, Lewis, Pendleton, Pocahontas and Webster counties, HOC offers homebuyer education and effecting mortgage brokering. It also provides opportunity for affordable home ownership or home improvements. The center offers financing for the purchase of newly constructed homes, purchase of existing homes, home repair and improvement, refinancing, down payment and closing costs and acquisition with rehab of foreclosed properties.
Advantages of HOC financing and products include fixed-rate financing, interest rates at or below market, low down payment and closing costs and subsidies for qualified borrowers on limited product options.
The HOC is open from 8 a.m. to 4:30 p.m. Monday through Friday. Additional information about HOC is available by calling 304-636-6495 or visiting www.hocwv.org.