High Turnout for 1st-time Home Buyers Seminar

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.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service financial institution with $2.3 billion in assets. As one of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has 16 banking centers located in Cambridge, Acton, Arlington, Bedford, Belmont, Burlington, Concord, Lexington, Newton Centre, Newtonville and Watertown. Cambridge Savings Bank also offers complimentary access to Business Resource Centers at the Arlington, Central Square and Newtonville banking center locations, where community members can conduct formal business in a professional setting. Business Resource Centers offer a conference room, phone, fax, and wireless internet service, as well as copiers, printers, televisions, coffee, and water. For more information about Cambridge Savings Bank, go to: www.cambridgesavings.com.

About Medford Community Housing

Medford Community Housing is a 501c(3) Not-for-profit corporation that promotes the development, rehabilitation and maintenance of affordable housing in Medford, with a special focus on housing for people with limited and moderate incomes.

– Information and photo from Cambridge Savings Bank