Denver – With the rising rates of home foreclosures in Colorado, the key to being able to maintain what might be the biggest investment of a person’s lifetime is knowledge, and the Colorado Housing and Finance Authority (CHFA) is now making it easier than ever for every Coloradan to be a smart home buyer.

 

CHFA now offers the option of receiving homebuyer education online at http://chfauniversity-homefinance.knowledgefactor.com. The online homebuyer education program is in addition to an online confidence-based money management program (http://chfauniversity-homefinance.knowledgefactor.com) developed in partnership with Knowledge Factor for existing homeowners looking to refine their financial knowledge. In addition to the online program, CHFA will continue to offer face-to-face homebuyer education classes throughout the state through nonprofit partners.

 

CHFA provides financing to qualifying homebuyers statewide, and has done so for over 30 years. Most of CHFA’s customers are first-time homebuyers of low to moderate means, and many are inexperienced in the home buying process. As a way to buck the foreclosure trend and help those considering a home purchase move confidently into home ownership, CHFA offers homebuyer education classes at no cost that are available statewide.

 

“We believe that homebuyer education helps people make good decisions about buying a home,” said CHFA’s Home Finance Director Karen Harkin. “A well-informed consumer asks good questions and makes good decisions. Understanding the process empowers people to make smart financial decisions about what kind of loan makes sense for them and helps prevent some of the problems that we believe has exacerbated the current foreclosure situation. Sometimes they even make the decision that they are not ready yet for home ownership.

 

“Now everyone has the ability to choose what kind of learning vehicle works best for them. Some may learn better at face to face classes, and others may be better served by an online program in the comfort of their home.”

 

The homebuyer education curriculum includes such things as finding a Realtor, finding a reputable lender, how to live on a budget, and home maintenance. CHFA offers homebuyer education classes in both English and Spanish, and CHFA will make arrangements for classes in other languages as necessary.

 

The homebuyer education and money management classes are available at no cost to the public whether or not they get a CHFA loan. To learn more about these classes and about CHFA’s mortgage lending programs, call 303.297.7376 or 1.800.877.CHFA, ext. 376. You may also log onto CHFA’s website at www.chfainfo.com.