Homebuyer education, often called pre-purchase counseling, helps the homebuyer prepare for the process of purchasing a home and deal with the various new challenges of home ownership. Some loan programs require the homebuyer to take part in homebuyer education programs. These programs can be flexibly taken online or in person, whether that is one-on-one or with a group.

The home buying process alone can be very complex, and that it is why it is so important for first time homeowners to receive the proper resources, and education to make the most beneficial decisions in their home selection process. These classes help the homebuyer understand the process of buying a home and what to expect as a new homeowner.

Here is a list of topics you can expect to be covered in a homebuyer education program.

  • Process of purchasing a home- Each class offers an in-depth look at what documentation is needed for the home buying process from the initial loan application all the way to the closing disclosures. 
  • Budgeting- Purchasing a home is on of the biggest transactions a borrower can make, it often requires a deal deal of money at closing, and so it is important that each homeowner understands exactly how to calculate costs while allowing flexibility for everyday life.
  • Shopping for a mortgage- You can expect to have a general overview of the different types of mortgages available to you on the market, as well as understand what type of qualifications that specific program requires. This includes credit scores required and how to improve your score to the meet the needs of your loan.
  • How to maintain a home- The maintenance process of a home is vital and can negatively or positively affect buyers home value. This class will show you how to properly budget for these expenses and how to maintain a home.

Homebuyer education courses are not necessarily just for first time homeowners. In fact, at the rapid rate of fluctuations and changing programs in the mortgage industry, homeowner classes are ideal for any borrower. Additional one-on-one homebuyer counseling is available, and may be required, depending on the state/county you are purchasing in or loan program you are using. Remember a well informed homebuyer later becomes a happy home owner. Please feel free to reach out to any one of our loan officers if you have any questions or if you would like to participate in any of YHN’s Homebuyer education courses.