Buying a home is the biggest financial decision most people make, and a mortgage is the biggest loan they'll ever have --- therefore, understanding the process is extremely important.
Depending where you live, classes for homebuyers may or may not be available on a regular basis. Recently the USDA began requiring that all participants in the UDSA's First-time Home Buyer Loan Program must take an approved class. If you are looking for a class, you might inquire with your regional USDA office. And, check with your local Extension Service to see if classes are available.
In most of rural Iowa, it has been difficult to conduct home buyer classes, because the number of people who need them at any given time is very small. As a result, Iowa State University Extension cooperated with the USDA to create an on-line Homebuyer Education Course: A Place of Your Own.
Course topics include:
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Preparing for home ownership
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Shopping for a home
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Getting a mortgage
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Closing the loan
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Being a home owner
The course cost including the certificate is $45. You may access the course any time of day from any computer with Internet access. (You need broadband access for the video welcome from the USDA.) When you complete all the lessons, you may take the certification exam. When you have 70 percent or more correct on the final exam, you will receive a homebuyer’s certificate that you may take to your local lender.
Whether you are buying your very first home, or have some experience, it is critical that you approach this important consumer decision well-equipped with the information you need to understand, question, clarify and make decisions you'll be happy with for years to come. Enroll today to work toward A Place of Your Own.
Kim
11/15/2007