First-Time Homebuyer Counseling Tools

First-Time Homebuyer Counseling Tools

EDUCATION COURSES FOR YOUR HOMEREADY® AND HOME POSSIBLE® BORROWERS When borrowers purchase their first home through the HomeReady® or Home Possible® programs, they are often required by Fannie Mae or Freddie Mac to complete a homebuyer education course to help them...

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Show sellers that you're serious with a pre-approval letter from Northeastern Realty.

EDUCATION COURSES FOR YOUR HOMEREADY® AND HOME POSSIBLE® BORROWERS

When borrowers purchase their first home through the HomeReady® or Home Possible® programs, they are often required by Fannie Mae or Freddie Mac to complete a homebuyer education course to help them better understand the financial responsibilities of owning a home. The courses below provide a number of options for you to share with your borrowers, and they all follow guidelines from the National Industry Standards for Homeownership Education and Counseling.

CREDITSMART HOMEBUYER U

 

NO COST


Homebuyer U is a free, interactive course made up of six modules that borrowers can complete at their own pace from a desktop, tablet or mobile.

HOMEVIEW

NO COST


HomeView is a free online course accessible from a desktop, tablet or mobile and is made up of seven modules. It takes about 3-4 hours to complete, and borrowers can pause and resume at any time.

NMLS #2179146

NMLS #2179146

PATHWAYS TO HOMEOWNERSHIP

NO COST


Through Pathways to Homeownership, borrowers receive counseling and education on the benefits and challenges of owning a home to prepare to handle the expenses and responsibilities that will arise — and know where to turn for help.

FINALLY HOME!

$0-$70


Finally Home! is a self-paced, mobile friendly, online homebuyer education course made up of seven chapters that guides your borrowers through the homebuying process from start to finish. Pricing is based on the borrower’s income and determined during course registration.

What documents should I be ready to provide for a pre-approval?

1. Identification

Government issued ID for each borrower – this can be a state-issued driver’s license, birth certificate, or passport.

2. Proof of Income

Employees – most recent pay stubs

Self-employed – profit and loss statement

Passive income – most recent financial asset statements

3. Financial Asset Statements – At least two months of your most recent statements, including:

Bank checking and savings

Brokerage

Retirement fund – 401K, pension, self-funded ( ROTH, SEP, Individual), annuities

Trust

4. Tax Returns

Employees – W-2 forms and tax returns for the last two years.

Self Employed – Profit and loss statements, 1099, and tax returns for the last two years.

Passive Income – Tax returns for the last two years.

You’re home

You’re home

Purchasing a home doesn’t have to be complicated. I can help turn your dreams of a new home into a reality. Contact me today to learn about my fast and easy process.

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