APCHA to require “home economics” course

Mar 28, 2018

Credit Aspen Pitkin County Housing Authority

Prospective homeowners hoping to buy into the Aspen Pitkin County Housing Authority program will soon be required to take a homebuyer education course first.

The course is similar to those required to get a federal loan from the Department of Housing and Urban Development. A financial expert goes through the home-buying process, including finding a lender and making an offer. An APCHA representative also covers the specifics of the local housing program, and bidding in the affordable housing lottery.  

Cindy Christiansen, deputy director of APCHA, says they see residents who've had costs creep up on them during the buying process, as well as home ownership costs like upkeep or HOA fees that buyers don’t account for.

“This is kinda to open people's eyes so that they don't get into a bind, they don't end up losing their home, they don't get behind in the mortgage,” said Christiansen.

At least one person in each household will need to either attend a course in person or show a certificate of completion for an equivalent online course in order to submit an application for deed restricted units. The hope is to offer the courses monthly. This month’s course is this evening from 5:30 - 7:30 p.m. at the Limelight Hotel.