Fannie Mae HomeView is a free, interactive, and comprehensive online course that helps put homeownership into focus for your borrowers. The course is written in everyday language and is designed to help borrowers of all backgrounds learn and navigate the homebuying process with information and resources needed for every step of the way.
Homebuyer Education
A Homebuyer Education class is commonly required to receive down payment assistance,
grants and conventional Affordable mortgage product benefits.
Check with your program on specific class agencies.
What Is A First Time Homebuyer Education Class Needed For?
A First Time Homebuyer education class is most often required when applying for down payment assistance.
Homebuyer classes are available with HUD counseling agencies in all 50 states found here. Classes are offered by NFDM.org through HomePrep, but check with the Down payment assistance agency you apply with as some require the class through specified HUD agencies. And, some conventional mortgage grants like Freddie Mac Borrow Smart or Fannie Mae SPCPm may require a different class altogether.
The clas is commonly 6-8 hours over a day or 2-night classes. Some are also offered online.
Defined: First Time Homebuyer Education (HBE)
Defined by Florida Housing Finance:
First- Time Homebuyers, unless qualifying under a Veterans Exception or those who are exempt by purchasing a home in a Federal Designated Targeted Area as specified in the Program Guide, must complete a Program-approved pre-purchase homebuyer education course. We will accept face-to-face homebuyer education if provided by a HUD approved counseling agency, a unit of local government that provides pre-purchase homebuyer education in Florida or a counseling agency designated by a unit of local government to provide home buyer education on their behalf. Refer to HUD website for a list of approved education providers by County.
Online HBE is permitted if provided by a HUD approved agency, a unit of local government that provides pre-purchase homebuyer education in Florida, a mortgage insurance provider or an Agency or GSE sponsored course.
Certificate of completion are acceptable for 2 years from date of completion.
Fannie Mae and Freddie Mac Conventional Affordable Mortgage Homebuyer Classes Can be Different.
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