Buying a home is one of biggest financial commitments you can make. Homebuyer counseling and education can help anyone who plans on purchasing a house in the near future, but is especially helpful for consumers who:
- Are struggling to build a large enough down payment
- Worry that their credit may not be strong enough to qualify for a prime rate mortgage
- Don't understand the monthly costs associated with owning a home
- Need to complete a homebuyer counseling or education course in order to qualify for a specialized loan program
Prospective homeowners have two primary options: one-on-one homebuyer counseling and self-guided homebuyer education courses.
Homebuyer Counseling
During a one-on-one homebuyer counseling session you'll work together with a trained counselor to review your finances and formulate a plan to help you find a home you can afford. The goal is to help you understand where you stand and what steps you'll need to take in order to save an adequate down payment, qualify for an affordable mortgage, and successfully manage the month to month costs of homeownership.
If applicable, your counselor may discuss available loan programs and their requirements.
You should leave your session with a budget, a clearly defined plan of action, and a certificate of completion (if applicable).
Online Homebuyer Education Courses
In additional to live, one-on-one homebuyer counseling, MMI also offers online homebuyer education courses. These courses are self-paced, engaging, and mobile-friendly. All courses are available in both English and Spanish. Each course is designed to prepare you for every facet of the home buying process. You can sign-up and begin a course at any time.
The online course prices range from $35 to $99.