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As a requirement of the Housing Authority Second Deed of Trust Program, you must attend a First Time Homebuyers Workshop Class prior to closing. You can contact any of the Non-Profit organizations mentioned below for specific times, and to reserve a place in the class. You do not need to attend the class taught by the Housing Authority in order to qualify for our down payment assistance program. You will be issued a certificate of completion at the end of the class. If you qualify and are planning on using the second deed of trust program through the Housing Authority, please provide a copy of the certificate to the Housing Authority as soon as possible after completing the class. If you are applying for a CHFA loan, or a FNMA My Community loan, your first mortgage lender will need a copy of this certificate. The El Paso County Bond program does not require attendance at a workshop, but feels it may be helpful to potential buyers. Housing Authority of the City of Colorado Springs (no
classes will be held in 2010) Consumer Credit Counseling Services Partners in Housing These workshops cover such topics as: Why is homeownership education important?; Is Ownership for me?; Steps in the home buying process; Key players in buying a home; The cost of Owning vs. Renting; Credit Worthiness & Budgeting for Ownership; Can I really afford it?; Financing a mortgage; What type of mortgage is right for me; Down Payment and closing cost Assistance Programs; Property Selection & Home Inspection; The Real Estate Contract; Basic home maintenance; and much more.
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