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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.

 

Latest Blog Post

February Education Series for Realtors: All Things Interest Rate

Rates:  How they work. What affects them. How to sell using rates in today’s market.

Rates have been a hot topic for the last few years.  As they plummeted into the low 3’s when COVID hit and then essentially double in 2022 when the country experienced huge inflation numbers.  This will not be a boring presentation about rates.  We are going to touch on what’s going on overall with rates. However, the main purpose of this event is to show you how a rate is determined for an induvial buyer.  We will talk about things buyers can do to help improve the rate they are being offered.  We will talk about programs that have very attractive rates and discuss things sellers can do to help lower the rate for a buyer.  A lower rate equals more buying power for a home buyer and everything we cover will help agents sell more homes in 2023.    The market is back to normal and it’s still a great time to buy.

Hot Topics We Will Cover

Here is a list of some of the things we will cover during the event:

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