Mortgage learning is easy with numerous resources, online as well as offline, available right at your doorstep. There are federal and state governments’ institutions offering advice and educational material for free and private organizations that might charge a fee for homebuyer learning classes. Online education programs are usually free, but you need to pay for professional consultations.
Government Institutions and Programs
Make it a point to check out the following state sponsored institutions and programs, which are usually free.
Housing Counseling Agency
No matter where you live, you may be able to locate housing counseling agency in your neighborhood. Seek help from a HUD-approved housing counseling agency, which can offer free advice and assistance on a broad range of topics, including home buying, fair housing, mortgage process and loan default. You can call 1-800-569-4287 to find a HUD-approved housing counselor in your area.
Homebuyer Education Learning Program (HELP) is an FHA-sponsored program to help people learn about the home buying process. It covers topics, such as budgeting, mortgage and home maintenance. One advantage with HELP is that you may qualify for an FHA loan at attractive terms after completing the learning program.
Homeownership Education Classes
Such classes are run by agencies approved by either federal or state government all over the nation. You may be able to learn how you can improve your credit to qualify for a mortgage and get it approved, too. Besides, the classes will help you choose an affordable home, go through the mortgage process and avoid payment-related difficulties in future.
Many government and non-government institutions offer homebuyer education classes and other resources online as well. You may be able to enroll for a mortgage training program for free or at a nominal cost.
Virginia Housing Development Authority (VHDA) is one such example that offers free homebuyer class online.
Freddie Mac also offers a range of valuable resources and training programs at its website.
Online Mortgage Hub
You can also find a comprehensive homebuying guide at our website.
Updated on: March 28th, 2015 by Marlon Brown