The full explanation
It is not the same as housing counseling, which is one-on-one help with an action plan for your situation. Some loans and some down payment assistance programs require you to finish a course before closing, especially first-time homebuyers. When you finish, you get a certificate.
An example
Before applying for their loan, Esteban and Clara take an online homebuyer course with a HUD-approved counseling agency. They learn about budgeting and closing, and keep the certificate to give to their lender.
You will see it in…
- Down payment assistance program requirements
- Your loan conditions before closing
- The course completion certificate your lender asks for
