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.
- Register for the online course by following this link fanniemae.com/education The cost for the course is FREE!
- Complete the online class
- After you complete the online home buyer education you will receive a course completion certificate.
- That’s it!
If you have any problems feel free to call us at (269) 360-7109.
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For veterans and active-duty military personnel, the dream of homeownership often comes with unique considerations. Finding the perfect home that meets all your needs and preferences can sometimes feel like a challenge, especially when inventory is tight. But what if you could purchase a home with untapped potential and tailor it to your exact specifications, all with the backing of your VA benefits? Enter the VA Renovation Loan – a powerful tool that can turn fixer-uppers into your forever home.
What is a VA Renovation Loan?
A VA Renovation Loan, allows eligible veterans, active-duty service members, and surviving spouses to finance both the purchase of a home and the cost of necessary or desired renovations in a single mortgage. This eliminates the need for multiple loans and streamlines the process of creating the perfect living space. It also opens up endless possibilities with home choices. All those houses they said won’t pass a VA appraisal, the VA renovation loan is the hack for that!