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Services we Provide
EDUCATION | LOANS & ASSISTANCE
HOUSING DEVELOPMENT & TECHNICAL ASSISTANCE
OPEN - OWNERSHIP Promotes Effective Neighborhoods
Hundreds of working families have realized their dreams of homeownership with help from Neighborhood Housing Services of New Britain.
At NHS, the goal is to revitalize New Britain by giving people like you the confidence and financial advice needed to buy a home.
This non-profit agency combines mortgage programs with home buyer education and counseling to help families like yours make a renewed commitment to New Britain!
Buying a home is a big step. For most people, it’s a source of pride as well as peace of mind, knowing your family has a safe, comfortable place to live.
It’s often a smart financial choice, too. Your home is an investment that can increase in value over time. There are also tax benefits to homeowners. Here are some of the ways we can help.
To learn whether homeownership is right for you, consider taking our low-cost classes.
"NHS lets you know that anyone can do it; you can do it." "I refer a lot of my co-workers to them…I speak very highly of them because they are helping build up New Britain." Barbara Shaw, NHS Client
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Education |
Have you ever asked yourself what steps you need to take to manage your finances and begin saving money? In FINANCIAL FITNESS you will learn basic money management, credit fundamentals and responsibilities. The training provides you with a new framework for handling personal finances, accessing legitimate institutions and credit, and reinforce your confidence in money management
Banks and other partners participating in Financial Fitness will serve as guest speakers to brief students on financial and banking services, and discuss accessibility issues.
The classes are given in New Britain as well as other Connecticut cities through partnering NeighborWorks® organizations.
(CLICK here for more Information)
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O.P.E.N. (Ownership Promotes Effective Neighborhoods) - a comprehensive approach to homeownership that offers training in all aspects of the home purchase and closing process. Includes bilingual group sessions, individual counseling, credit repair, down-payment assistance and mortgage products. NHS partners with area lenders to offer its graduates the most attractive, below market 1st mortgage products available.
"Track One" Home Buyer Classes "The road map to homeownership" is designed for people who are currently purchasing a home, or expect to buy in the next three to six months. Topics covered include:
- Are you ready to buy a home?
- Shopping for a home
- Getting a mortgage loan
- Budgeting and credit
- Maintaining your home
This eight-hour course satisfies the home buyer education requirement for CHFA programs, Hometown New Britain, People’s Affordable Mortgage, the City’s HOP loans and other first time buyer mortgage products. New classes begin every month.
Changing the Face of Homeownership – a national campaign by Neighborhood Reinvestment Corporation to raise owner-occupancy in all communities. Since its inception, attendance in local classes remain full and teaching is now an accredited part of the State Adult Education curriculum.
(CLICK here for more information about Homebuyer/Homeownership Education)
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We also offer Landlording 101, for people buying 2-family, 3-family, or 4-family homes.
Workshops for buyers and owners of rental
properties on owning and managing rental units.
(CLICK here for more information)
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Individual Counseling |
To make your dream of homeownership a reality, you need personalized advice from a trusted source. We are a non-profit community organization, and will not try to "sell you" anything.
If you’d like, our staff can review your credit record and household budget, then outline the next steps to take. This one-on-one support can help you overcome any obstacles in your path.
LOANS & ASSISTANCE |
NHS clients can take advantage of several reduced-cost mortgage programs.
We work with local lenders including Banknorth, Wachovia Mortgage, Fleet Mortgage, People’s Bank, McCue Mortgage and Webster Bank to name a few. These lenders make loans available with features such as:
- Below-market interest rates
- Downpayment assistance
- Reduced closing fees
- Flexible approval guidelines
"I think if I didn’t go to them, honestly I would have
missed out on a lot of things, a lot of
things." Mariusz Skubisz, NHS Client
Home Improvement |
HOUSING STOCK PRESERVATION LOAN PROGRAM
Fixed rate second or third mortgage loan for the
renovation of one to four unit buildings in the NHS service area. Borrower must be unable to secure conventional financing. Rate will be determined on a case-by-case basis.Money can be used to correct code violations, add safety features for the elderly or handicapped, or for emergency situations (e.g., system failures). Loan funds may also be used for interior and exterior repairs including landscaping.
Application fees Owner occupants - $50.00. Non owner occupants - $200.00 Origination Fee 1/2% owner occupants 2% non owner occupants origination fee payable at time of closing.
APARTMENT IMPROVEMENT LOAN PROGRAM
Fixed-rate second mortgage to repair multi-family buildings. Five or more units in the property. The property must be located in the NHS service area. Interest rates are set based on the debt service coverage ratio and generally are in the 6.00 to 7.00% range.
The Money can be used for Correction of code violations, repairs and improvements to building systems, cosmetic improvements, and other corrective measures.
Application fees Owner occupants - $50.00. Non owner occupants - $200.00 Origination Fee 1/2% owner occupants 2% non owner occupants origination fee payable at time of closing.
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NHS works with residents and owners to address issues affecting the quality of their lives such as crime and crime prevention, revitalization and neighborhood clean-up.
For more Information call 1-860-224-2433 or fax 860-225-6131