chfa enews - home finance 
 
October 31, 2022

reminder: homebuyer education transition and costs

Effective, November 1, 2022, CHFA will transition back to our pre-pandemic homebuyer education model.

In-person and live webinar classes will continue to be free. However, any borrower beginning a CHFA-approved online course on or after November 1, 2022, will be required to pay a $75 fee.

Borrowers who have registered to take a CHFA- approved online course prior to November 1, 2022, will not be charged this fee if they used the available coupon code upon registration.

To help lenders best inform their borrowers on CHFA’s process, we’ve created a Steps to Completing CHFA Approved Homebuyer Education flyer. Please feel free to download this flyer and send it to those borrowers considering utilizing CHFA early in the homebuying process.

Important Tips:
  • Encourage borrowers to take a class early! Waiting may delay or postpone a closing.
  • All borrowers should complete a course and present a valid homebuyer education certificate to their lender prior to their mortgage loan closing date.
  • For borrowers taking an online course, to receive their certificate, a follow-up call with the CHFA-approved homebuyer education provider they signed up with is required. o
    • Borrowers must work directly with the homebuyer education provider to schedule the follow-up call.
    • Borrowers should schedule this call promptly to avoid potential closing delays.
Should you have comments or questions, please contact us.

CHFA Home Finance
Homeownership@chfainfo.com
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope


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