How can CAAN help me to be a successful home buyer?
Community Action for Affordable Neighborhoods (CAAN) is a different kind of home ownership program because you, the owner, have more choices and flexibility in where you live and in making the home meet your personal requirements. CAAN's focus is on sustainable construction practices and energy efficiency, putting more money in the home owner's pocket year after year. Financial services are provided by CAAN to assist the applicant in repairing bad credit in order to become financially eligible for home ownership through this program.
Who is eligible?
CAAN services are available to low-to- moderate income individuals and families who wish to purchase a home within the city limits of Knoxville. Participants of this program must meet financial eligibility requirements.
CAAN's Construction Services will advise the potential home buyer regarding suitable properties that are available for purchase. CAAN will oversee the construction of your new Energy Star rated home, which includes the demolition of existing structure(s) and clearing of the lot.
If you choose to purchase an existing home, CAAN will inspect the property and decide what work needs to be done to meet CAAN requirements, local Building Codes and Energy Star requirements. CAAN will complete the rehabilitation project for you.
As part of the home-buying process, CAAN will work with a mortgage lender to help determine your eligibility for a mortgage and then assist you to become financially eligible with financial counseling. Once the client is qualified for a mortgage, we will work to obtain affordable payments by using methods such as down payment assistance. After the mortgage closing, CAAN will continue to work with you to provide financial management instruction.
Home Ownership Training
CAAN will provide useful and informative home ownership training programs to prepare buyers for transitioning from tenant to home owner status. CAAN will do this for a period of not less than five years, while maintaining regular communication with home owners after closing. Home visits may be scheduled to advise you on how to cope with housing maintenance issues as they arise.