Home Buyer Class

Many loan programs available to home buyers don’t require a home buyer education class to be taken.  However, there are a couple of low down payment and down payment assistance programs that do require a short home buyer education class be taken.    If you do a search on the internet for class providers be prepared for mass confusion!  The issue is that different loan programs and states have different requirements and you have to make sure you take the right class or it wont be accepted.

For the most part, at least in Michigan, the HUD Approved Counseling Agencies will typically meet those requirements.   If you are looking for a face to face class here in Southwest Michigan, we work a lot with Kalamazoo Neighborhood Housing Services or KNHS and they have  home buyer course options both in person and online.    If you are looking to take the course online Fannie Mae offers a free online course.

Loan Programs With Home Buyer Education Requirements

The MSHDA down payment assistance programs are the most common loan programs that require a home buyer class.  However, the following programs all require home buyer education.

  • Conventional Home Ready Program (3% down)
  • FHA MSHDA with down payment assistance
  • Conventional MSHDA with down payment assistance
  • FHA MSHDA FLEX with down payment assistance
  • Conventional MSHDA FLEX with down payment assistance

Course Registration

Most home buyers prefer to take the home buyer course online.  Fannie Mae offers a free online class that is quick and easy.

  1. Register for the online course by following this link  fanniemae.com/education   The cost for the course is FREE!
  2. Complete the online class
  3. After you complete the online home buyer education you will receive a course completion certificate.
  4. That’s it!

If you have any problems feel free to call us at (269) 488-9494.

 

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Buying and Financing Rental Property 2022 Event

July 2022 Lunch & Learn Event and Webinar for Realtors and Investors

Working with home buyers searching for a new primary residence is a totally different game compared to working with investors and rental property.  Sure, there are similarities, but what want-to-be home owners care about is different than what an investor cares about.  Frankly, for an investor, it’s all about the money and it should be.  When someone purchases a rental property they are essentially running a business.  If we can help them run a successful business and turn a profit they will likely come back and buy more properties.

There are lots of want-to-be investors out there and the hardest part is getting started.  We are going to help unravel the maze.  We will also look at long term planning.  Often just knowing what needs to happen to acquire the next property and the next one after that is one of the keys to success.  Owning rental property can be a great way to build wealth and we are here to help.

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