Required if all borrowers are first-time homebuyers, at least one borrower must complete pre-purchase homebuyer education and counseling. The following courses listed are acceptable:
- REI Homebuyer Education through EHome America, please click on the following link to take the online course. The cost is $99.00
- Fannie Mae’s FrameWork Homeownership Course
- Freddie Mac’s CreditSmart
- HUD approved counseling agency
- Homeownership education programs developed by mortgage insurance companies or other providers’ programs that meet the standards for Homeownership Education and Counseling set by HUD or the National Industry Standards for Homeownership Education and Counseling
Lender must retain a copy of the certificate of course or counseling completion in the loan file.