Medford Community Housing and Cambridge Savings Bank Host Seminar For First-Time Homebuyers
Cambridge Savings Bank (CSB) and Medford Community Housing recently held a Citizens’ Housing and Planning Association (CHAPA) Certified First-Time Homebuyer seminar at the Medford Housing Authority. More than 65 local participants who are interested in buying a home for the first-time attended the session, which provided information about obtaining a mortgage, home buying techniques and tips to avoid common problems.
All attendees earned CHAPA certification, which qualifies them for first-time homebuyer loan programs. Benefits of these programs include subsidized rates, expanded underwriting guidelines, and eligibility for grants that can be combined with loan financing.
“Cambridge Savings Bank is inspired by sound financial decision making and programs like the CHAPA seminar ensure that first-time homebuyers understand their options,” said Evan Diamond, Assistant Vice President, Financial Education Program Manager at Cambridge Savings Bank. “A home purchase is one of the most important financial decisions a person will ever make.”
"Medford Community Housing is pleased to partner with Cambridge Savings Bank as our sponsor for our Home Ownership Program,” said Susan Collins, Executive Director, Medford Community Housing. “Our workshop for first-time home buyers provides essential information to residents who have never purchased a home, which is an invaluable service for our community.”
In addition to reviewing the steps that are needed to purchase a home, the CHAPA workshop provides information concerning Massachusetts Housing Partnership ‘soft second’ loans, Mass Housing loans, and Federal Housing Administration loan programs.
The seminar is part of a year-long series of CHAPA Certified First-Time Homebuyer events hosted by Cambridge Savings Bank and Medford Community Housing. The seminars are organized in response to tremendous local need for first-time homebuyer education. First-time buyers often feel pressure to buy a home without the benefit of guidance from reliable sources. At the seminar information is provided in a stress-free environment that encourages attendees to ask questions and receive information from experts in the field.