Passport to Home Ownership with CHFACha Cha talks with Greg Brown from CHFA about an upcoming free homebuying event designed to make the path to homeownership feel less overwhelming. The conversation covers CHFA’s down payment and closing cost assistance, who can qualify, and why the event is built as a one stop shop for first time and repeat buyers alike. We discuss how the Passport to Home Ownership event walks attendees through each stage of buying a home, from counseling to lending to real estate to CHFA resources. Greg also explains the assistance programs available, including grants, silent seconds, and a first generation program for buyers whose parents never owned a home. Key topicsIn this episode, Greg explains the Passport to Home Ownership event on August 22 from 11:00 a.m. to 2:00 p.m. at the Center for African American Health in Park Hill.The event is designed as a four station homebuying journey, with a housing counselor, lender, realtor, and CHFA resource station.CHFA is offering a free, educational, family friendly experience with vendors, food, a DJ, playground access, and five $100 gift card giveaways.Greg shares that no special preparation is required to attend because the event is meant to be a one stop shop for information and guidance.For buyers using CHFA assistance, he says approved lenders typically look at a 620 credit score, $1,000 of the buyer’s own funds, and county income limits.Greg explains that CHFA is not just for first time buyers. Repeat buyers may still qualify as long as they do not have more than one CHFA loan outstanding.He highlights CHFA’s down payment and closing cost help, including assistance of up to $25,000.The standard grant can cover 3 percent of the loan amount, up to $25,000, and does not need to be repaid.CHFA also offers a silent second for 4 percent of the loan amount with no payments and no interest, repaid only if the home is refinanced or sold.Greg describes CHFA’s first generation program, which provides a flat $25,000 for buyers whose parents never owned a home.Timestamps00:00 - Introducing Greg and the Passport to Home Ownership event 00:30 - How the event guides buyers through four homebuying stations 00:58 - Family friendly setup with food, DJ, playground, and gift card giveaways 01:53 - Whether buyers need to prepare before attending 02:18 - Basic qualification guidelines for CHFA assistance 03:12 - CHFA programs for both first time and repeat homebuyers 03:40 - Why the event is completely free 05:00 - Down payment and closing cost assistance up to $25,000 05:58 - How the silent second works and when it is repaid 06:35 - What happens if someone keeps the loan for 30 years 07:03 - First generation homebuyer assistance 08:01 - Why the event is meant to educate and empower buyers 08:31 - Event details, registration, and location 08:58 - CHFA’s Black and African American Home Ownership Initiative 09:28 - How to register through the event microsite and radio station 09:55 - Personal stories about staying in a home for decades 10:51 - The team invites Greg back for future community events
