Source: Investopedia —
If you’re a first-time homebuyer, buying a home can seem overwhelming. There are many steps to learn, and the process, myths and misconceptions can be mystifying. Homebuyer education courses may be the perfect way to learn what you need to know about buying your first home. In fact, some homebuyer assistance programs, grant programs, and lenders require homebuyers to take a virtual or in-person education course to qualify for their assistance, grant, or their mortgage. Find out more about what these classes are like and what they entail.
- Homebuying classes are offered through a variety of state assistance programs, lenders, and realtors. Check around to find in-person or online sessions.
- Costs range from free to a nominal $15-$25 fee, while others might cost as much as $125. Programs are typically four to eight hours long and come with a certification of completion.
- They are required for some down-payment assistance and grant programs, and to qualify with some lenders. They can be valuable for anyone buying a home for the first time.