What to Expect from a Home Buyer Education Course
When you’re preparing to buy a home—especially for the first time—there’s a lot to learn. And for some loan programs, like MSHDA or Launch Down Payment Assistance, taking a Home Buyer Education Course isn’t optional—it’s a requirement.
But even if you’re not applying for a loan program that requires it, taking a Home Buyer Education Course can be one of the smartest moves you make in your home buying journey. The knowledge gained can protect you from costly mistakes, help you make informed decisions, and empower you to take charge of your financial future.
First, What is a Home Buyer Education Course?
A Home Buyer Education Course is a structured learning program designed to teach prospective homeowners about every aspect of purchasing and maintaining a home. These courses are typically offered by HUD-approved housing counseling agencies, nonprofits, credit unions, or state housing authorities, and may be available online or in person.
The length of the course can vary depending on the provider, but most take between 4 to 6 hours to complete. Some courses are done in one day, while others may be split over multiple sessions or available as self-paced online modules.
Common Topics Covered in a Home Buyer Education Course
A good course will walk you through the entire home buying process, from understanding your finances to closing on your home. Here’s a breakdown of what you can typically expect to learn:
1. Budgeting and Financial Readiness
- Assessing your current financial situation
- Creating a budget to determine what you can afford
- Managing debt and improving your credit score
- Understanding how lenders evaluate borrowers
2. Mortgage Basics
- The different types of mortgages
- Options for down payment assistance (like those through MSHDA)
- How interest rates affect your payments
- Pre-approval vs. pre-qualification
- Fair Housing and Consumer Protection Laws
3. The Home Buying Process
- Steps involved in buying a home—from house hunting to making an offer
- What to expect during inspections and appraisals
- The role of real estate agents, lenders and Escrow Agents
- Loan Processing and Fees
- The Closing Process
4. Credit and Lending
- How credit reports and scores affect your mortgage
- Tips for improving credit before applying
- Shopping for the best loan and understanding loan disclosures
5. Homeownership Responsibilities
- What it really means to be a homeowner
- Maintenance tips and long-term financial planning
- Avoiding foreclosure and knowing your rights as a homeowner
Benefits of Taking a Home Buyer Education Course
Even if your loan doesn’t require it, taking a home buyer course offers several advantages:
Increased Confidence and Preparedness
You’ll feel more in control of the process, knowing the terminology, the steps involved, and how to avoid common pitfalls.
Potential Cost Savings
Courses often highlight cost-saving opportunities, such as down payment assistance, first-time buyer grants, and lower-cost mortgage options you might otherwise overlook. Some courses even offer financial benefits, like credits toward closing costs.
Avoid Common Mistakes
Understanding the process can help you avoid signing contracts without proper inspections, taking on more mortgage than you can afford, or falling prey to predatory lending practices.
Long-Term Financial Success
These courses often include tips for budgeting as a homeowner, maintaining your property, and preparing for emergencies—information that can help keep you in your home long after the closing day.
Contact MSHDA Approved Lender, Julie Krumholz from Superior National Bank
A Home Buyer Education Course can serve as a roadmap to one of the most significant purchases of your life. It arms you with knowledge, builds your confidence, and sets you up for long-term success as a homeowner. If you’re serious about making a smart, informed investment in your future, contact Julie Krumholz to learn more!
Julie Krumholz is an MSHDA-approved lender with over 30 years of experience in the mortgage industry. She’s experienced nearly every facet of the mortgage industry, from processing, closing, loan origination, underwriting, QC auditing, and even co-owning a mortgage brokerage firm. Julie uses her wealth of experience to match homebuyers with the best mortgage program for their specific needs and helps streamline the homebuying process.
