CALL US AT 1-800-215-2454 TO DISCUSS YOUR NEEDS
Northeastern Realty can accelerate the process to helping you find a new home in Florida, Massachusetts, Rhode Island, and Georgia. We assist with our clients to get the right home and loan needed for your situation. Our team of real estate agents and loan officers are here for you to get you through this important stage of your life. No matter if you are still searching for a home, or if you have already found the home of your dreams, Northeastern Realty can be an asset to you during the home buying process.
FREDDIE MAC
If ALL occupant borrowers are first time home buyers, then Home Buyer counseling is required on Home Possible® loans. For 2 – to – 4 unit properties, at least one borrower must complete a landlord education program.
FANNIE MAE
Homeownership education through any Fannie Mae approved agency is required on 1) all HomeReady purchase loans where all occupying borrowers are first time homebuyers.
FHA
Homeownership counseling is not required for FHA or VA loans.
VA
Homeownership counseling is not required for FHA or VA loans.
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.
FANNIE MAE
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.
FREDDIE MAC
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.