The Chautauqua Home Rehabilitation and Improvement Corp. is inviting all potential first-time homebuyers to attend one of two classes as part of the Homebuyer Dream Program offered by the Federal Home Loan Bank of New York.

Classes are to be held in the CHRIC offices in the former Mayville Central School building, 2 Academy St., Mayville.

The first class will be held from 9 a.m. to 5 p.m. Saturday, July 20. in English with a second class for Spanish speakers from 9 a.m. to 5 p.m. Saturday, Aug. 31.

Seating is limited and pre-registration is required to secure a seat. Registration and payment of a $50 fee is required in advance by calling Mayra Alvarado at 753-4180 or emailing mayra-alvarado@chric.org.

The $50 enrollment fee is to cover the cost of a credit report, the educational material provided and other program delivery expenses. CHRIC accepts credit/debit cards, cash, personal check or money order.

The first-time homebuyer education program includes a combination of group classes and individual counseling sessions introducing participants to a detailed review of the mechanics of the home purchase process. Participants will learn about affordable mortgage products, including any down-payment and/or closing cost assistance programs for which they may qualify, budgeting, savings, resolving credit issues, identifying a house, negotiating the contract, obtaining financing, preparing for closing and life as a homeowner.

CHRIC also offers the education course online through eHomeAmerica for the cost of $100 per person. It can be easily accessed, completed at one’s own pace and in English and Spanish by visiting eHomeAmerica.org/chric.

Those interested in using the Homebuyer Dream Program through Community Bank N.A., Lake Shore Savings Bank and M&T Bank need to attend one of the classes scheduled for the summer or to complete the online certification. Buyers cannot apply for the program until they complete the certification.

The Federal Home Loan Bank of New York will grant up to $14,500 towards down payment and closing cost assistance through their Homebuyer Dream Program to eligible first-time homebuyers purchasing a home through an approved community based, member lender. Additionally, the Homebuyer Dream Program also offers up to $500 towards the defrayment of homeownership counseling costs which will be provided for the use of the household via the member to the non profit housing agency.

The amount of the defrayment will be added to the grant.