6 First Time Homebuyers Programs You Need To Take ASAP


Did you know that you have to complete a homebuyer education class to become eligible for a Maryland Mortgage home loan and Down Payment Assistance? Most first-time homebuyers don't know.

Lenders are required to include a copy of your Homebuyer Education Completion Certificate in your loan application. The good news is that this in-person or online class can be any program that’s approved and provided by the U.S. Department of Housing and Urban Development (HUD), private mortgage insurers, the Federal National Mortgage Association (Fannie Mae), or Freddie Mac.

Check out a few of Ryan Homes at Brunswick Crossing’s recommendations for programs for first time home buyers:

  1. Achieving The Dream Of Home Ownership. Alliance Credit Counseling in Charlotte, North Carolina, offers an online HUD-approved first time homebuyers program that “consists of topical sections, plus a one-on-one counseling session."

    There’s also personalized review of your budget and credit, and this Federal Housing Administration-approved program meets all of the lender and mortgage insurance requirements.

  2. CreditSmart’s Steps To Homeownership Tutorial. “This self-paced tutorial outlines the steps to homeownership,” including your credit score, financial management, the lender and homeowner relationship, and homeownership.

    “Successful completion of this tutorial satisfies the Home Possible Mortgages homeownership education requirement [for Freddie Mac]. A printable certificate of completion with your name is generated after successfully completing the quiz. You can save the certificate as a PDF and send it directly to your lender, if needed.”

  3. eHome America Certified Education And Counseling For Homebuyers And Homeowners. “eHome America works closely with certified counseling agencies, housing finance agencies, lenders, and real estate professionals to help homebuyers and homeowners. The [online] courses offered...have been professionally created, reviewed by various agencies, and approved by governing bodies.”

    The company also offers classes in home purchasing, money management, and foreclosure.

  4. Homebuyer Education. “Completing a Homebuyer Education class prepares you to make the right decisions when purchasing your home, and qualifies you to receive substantial Down Payment Assistance and additional financial help through our Partner Match Programs” through the Maryland Mortgage Program, according to the Maryland Department of Housing and Community Development.

    Homebuyer Education classes are available throughout Maryland and online. In Frederick County, in-class programs are provided by the Interfaith Housing Alliance, Inc. and HUD-approved Frederick Community Action Agency. Online classes approved by Fannie Mae include Framework, Genworth Financial, and Mortgage Guaranty Insurance Corporation. Housing Options & Planning Enterprises, Inc. also offers an online class.

  5. Home Ownership: Making The Dream A Reality. Offered by United Guaranty, a mortgage lender in Greensboro, North Carolina, this class “adheres to the National Industry Standards For Homeownership Education And Counseling Association. United Guaranty's flexible, interactive course will teach you how to achieve your homeownership goals, whether you are a first-time home buyer or” a move-up buyer.

    This “course [also] satisfies the homeownership education requirement for Freddie Mac's affordable home program.” The two- to three-hour class offers a concluding assessment and lets you pause your education, so you can get back to working from home or checking your email.