Homebuyer education options for successful homeownership

Programs to 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.

Discover Finally Home!® GSE programs Other resources Landlord education


Finally Home!

What to expect from the Finally Home! program

By taking the Finally Home! course presented by MGIC, students are armed with the knowledge and tools needed to be a successful homeowner. Here’s what they can expect:

  • The Finally Home! online program comprises 7 chapters that guide students through the homebuying process from start to finish
  • Students must complete all chapters to 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

Ready to get started? Register now

Homebuyer education offered by Fannie Mae and Freddie Mac

Fannie Mae HomeView® Freddie Mac CreditSmart®
  • Aligns with the National Industry Standards for pre-purchase homeownership education
  • Meets requirements for Fannie Mae’s HomeReady® program and may also meet requirements for many other loan programs
  • Available in English and Spanish
  • No fee


Visit the HomeView website
  • Multiple learning paths for those in different stages of the homebuying process (only Homebuyer U offers a certificate)
  • Homebuyer U program meets requirements for Freddie Mac’s HomeOne® or Home Possible® mortgage
  • Some resources offered in Spanish
  • No fee


Visit the CreditSmart website

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.

Visit the HUD website

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:

  • An overview of the key steps to buying a home
  • Affordability calculators, worksheets and other tools
  • Engaging stories, videos and infographics


Explore readynest.com

Landlord education options 

Borrowers who purchase a 2- to 4-unit home for rental may be required to take a landlord education course to get a mortgage.

Owner-Occupant Landlord Training course from the Minnesota Homeownership Center

MGIC is proud to partner with the Minnesota Homeownership Center to help more potential homebuyers access its Owner-Occupant Landlord Training course. 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.

Go to Owner-Occupant Landlord Training

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. 

 

You might also like

  • mgic text card green with navy bottom right

    Readynest

    Tips, tools and stories for homebuyers.

    Read now

  • mgic text card teal with green

    How to reach first-time homebuyers

    Turn more renters into first-time homebuyers with tools from MGIC.

    Learn how

  • mgic text card navy with green bar on right

    First-time homebuyer resource library

    Explore informational materials you can instantly download and share with your borrowers.

    Browse the library

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.