Homebuyer education options for successful homeownership
Explore programs that will help borrowers prepare for the buying process and homeownership.
Support your borrowers with the right homebuyer education resources
At MGIC, we believe in the power of homebuyer education to set future homeowners up for success. Homebuyer education programs help borrowers achieve sustainable homeownership by preparing them for both the buying process and homeownership itself.
Homebuyer education options to fulfill requirements
While education is beneficial for anyone looking to buy a home, some loan programs require homebuyer education that meets certain criteria as a condition for closing the loan. The following homebuyer education options fulfill education requirements for many mortgage products. Both borrowers and lenders should make sure to choose an education program that meets the loan product’s requirements.
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Finally Home!® education presented by MGIC
By taking the Finally Home! course presented by MGIC, students are armed with the knowledge and tools needed to be a successful homeowner.
- Students who complete all 7 chapters of the program receive a certificate of achievement
- The course is available in English and Spanish
- The maximum Finally Home! program fee is $70 but may be as low as $0 based on a borrower’s income
- Pricing is determined during course registration
Finally Home! exceeds the National Industry Standards for Homeownership Education and Counseling and is provided by a HUD-approved housing counseling agency.
Homebuyer education offered by Fannie Mae and Freddie Mac
| Fannie Mae HomeView® | Freddie Mac CreditSmart® |
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Additional homebuyer education resources
| HUD resources | Readynest.com |
The U.S. Department of Housing and Urban Development (HUD) offers information in English and Spanish that can help potential homebuyers understand the process. HUD resources include local homebuying programs and HUD-approved housing counseling agencies. | Readynest by MGIC breaks down the homebuying process into bite-size topics and backs up the facts with true stories that bring it all to life. Borrowers will find:
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Landlord education options
| Landlord Essentials course from Finally Home! | Owner-Occupant Landlord Training course from the Minnesota Homeownership Center |
This online course is designed for owner-occupants of 2- to 4-unit homes and covers essential topics and best practices for managing a rental property. By completing this course, students will gain a deeper understanding of their responsibilities as a landlord and owner, and will be better equipped to make informed decisions about their property and investment. Students who complete the course receive a certificate of completion. The course fee is $70. | This free course, accessible in English and Spanish, highlights key considerations for prospective buyers who are deciding if owning a small rental property and becoming an owner-occupant landlord is right for them. Students who complete the course receive a certificate of completion. Please note that this program includes information about Minnesota state laws and regulations. Potential landlords should research the specific legal and tax obligations that may apply to them as a rental property owner in their specific state and municipality. |
Other landlord education resources
For guidance on other landlord education options in your area, contact your local housing counseling agency or state housing finance agency (HFA). Your local municipality may also offer landlord education resources.
Finally Home!® is a registered trademark. For questions or support, contact Finally Home! at 877-695-2655 or support@finallyhome.org.
HomeView® and HomeReady® are registered trademarks of Fannie Mae. CreditSmart®, HomeOne® and Home Possible® are registered trademarks of Freddie Mac.