Homebuyer Education
Landlord Education and
Housing Counseling Services
Overview
CHFA offers landlord education and counseling services
free-of-charge to purchasers of 2-4 family homes through
CHFA-approved, participating
counseling agencies across the
state. This class is required for those purchasing a 2-4
family home under the
CHFA Homebuyer Mortgage Program as part of their loan
process. This class is also available to those who may
purchase a 2-4 family home through the federal Neighborhood
Stabilization Program (NSP), and to any potential homebuyers
interested in purchasing a 2-4 family home anywhere in the
State. The three-hour class provides an overview on the
range of financial and practical topics that a homebuyer
should understand before completing the 2-4 family
homeownership process. CHFA also offers post-closing
counseling free-of-charge to all CHFA, NSP and other
borrowers who own 2-4 family homes.
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What topics are covered in this class?
CHFA’s three-hour landlord education and housing
counseling services provides detailed coverage of the
technical, financial and practical aspects involved in
buying a 2-4 family home, as well as the responsibilities
that come with being a landlord. The curriculum also
reviews the sometimes complex trail of documentation that
accompanies a 2-4 family home purchase from the offer to the
closing. For homebuyers unfamiliar with the ongoing costs
of homeownership and added responsibility of being a
landlord, this class reviews helpful topics such as finding
reliable tenants and maintaining the value of your
property. In addition to the curriculum on the home buying
process, the landlord education and housing counseling
services also offers individualized pre-purchase
counseling. CHFA will also provide post-closing counseling
for homeowners who are experiencing difficulties with tenant
issues or other issues related to owning a multifamily home.
Who is allowed to participate?
Effective with loan reservations made on or after May 15,
2010, the landlord education and housing counseling services
class is required for all purchasers of a 2-4 family home
financed by CHFA. Applicants for 2-4 family financing
will be given a loan reservation number from their
CHFA-approved
Participating Lender which will enable them to register
with one of the
CHFA-approved counseling agencies that conduct the
landlord education and housing counseling services. The
three-hour class must be completed prior to closing.
Any potential purchaser of a 2-4 family home through the
federal Neighborhood Stabilization Program (NSP) is also
able to participate in the landlord education and housing
counseling services class. The cities participating in
Connecticut’s NSP are: Bridgeport, Hartford, Meriden, New
Britain, New Haven, Stamford, Waterbury, Norwich, New London
and Danbury. Classes are also available for any potential
homebuyers interested in purchasing a 2-4 family home
anywhere in the State.
CHFA also offers post-closing counseling to all
CHFA, NSP and other borrowers who own 2-4 family homes.
Who teaches this class?
Six
CHFA/HUD-approved
counseling agencies conduct the
homebuyer education classes on
behalf of CHFA. These non-profit agencies are staffed by
counseling
professionals who are trained in CHFA loan programs.
Where and when are the classes held?
Landlord education and housing counseling services
classes are offered at a variety of locations across the
state and at different times each month. To accommodate
diverse schedules, they are offered on weekday evenings as
well as on Saturdays. (See,
landlord education and housing
counseling services schedule, for more specific information.)
Individual pre-purchase counseling sessions will be
available for clients on an as-needed basis. CHFA will also
provide post-closing counseling for homeowners who are
experiencing difficulties with tenant issues or other issues
related to owning a multifamily home.
How do you register for this class?
CHFA 2-4 family home loan applicants with loan
reservation numbers can register for the three-hour landlord
education and housing counseling services class at a time
and location convenient to them by contacting any of the counseling agencies.
Registrations are taken by telephone. Applicants who
complete the class will be provided with a certificate to
verify that they have satisfied the education requirement of
their loan application.
How much does this class cost?
This class is provided free-of-charge to all eligible
CHFA loan applicants and any potential purchaser of a 2-4
family home through the federal Neighborhood Stabilization
Program, as well as any potential homebuyer interested in
purchasing a 2-4 family home in Connecticut.
Questions? Contact your lender
or CHFA counseling agency.
Your CHFA-approved lender can provide you with
information about the landlord education and housing
counseling services requirement and
refer you to an agency near you. Or, you may contact a
counseling agency directly to obtain If you still have questions, please contact CHFA:
Mailing Address:
CHFA
Attn: Single Family Underwriting
999 West Street
Rocky Hill, CT 06067-4005
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Class Schedule
Download the file below for a schedule of upcoming
classes.
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| File | Size | Type | Landlord Counseling - 1st Quarter 2012
This chart lists the schedule for the Landlord Education and Housing Counseling Service classes. This class is required for purchasers of a 2-4 family home financed by CHFA. It is also available to any potential 2-4 family homeowner. | 57K | pdf | | File | Size | Type |
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