It is mandatory for our program that all homebuyers take a homebuyer education class before setting out to purchase a home. Not only will this help you be fully informed about the process and requirements, but counseling agencies can often help identify sources of assistance.

Home buyer education, sometimes called housing or pre-purchase counseling, helps home buyers prepare for purchasing a home and the many new challenges of being a homeowner.

Home buyer education can be any class approved by HUD, Fannie Mae, or Freddie Mac, as long as it meets the insurer and master servicer requirements. Visit www.hud.gov for other Housing Counseling Agencies.  You may consult with the lender if you choose to take an online homebuyers class.

Pre Purchase Education

• At least ONE borrower in the household must attend first time homebuyer class/training
• Certificate must be dated within two years of settlement date
• Homebuyer Education required prior to reservation of funds for any programs.

Post Purchase Education

HOC also recommends, but does not require, a post purchase class. This class discusses the mortgage payment and servicing, Homeowners Association responsibilities, maintenance, and budgeting after you have settled on your home.