First-Time Home Buyer Class: Why Take It?

A first-time home buyer class can be the ticket to grants, down payment assistance and a lower monthly payment.

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If you think you’re ready to buy a home, but you don’t know where to start, a first-time home buyer class can cover the basics. In some cases, you might be required to take a class to qualify for a low down payment mortgage, a grant or down payment assistance.

Even if the class isn’t mandatory, you’ll learn shopping and budgeting tips, which can lead to a lower monthly mortgage payment. Since many first-time home buyer classes are free, that’s time well spent.

Here’s what to expect if you’re signing up for a first-time home buyer class near you.

What is a first-time home buyer class?

A first-time home buyer class is a workshop designed to help borrowers navigate the homebuying process. Participants who complete the course — which may involve passing a quiz — typically earn a certificate that can qualify them for grants and down payment assistance programs.

If you’re looking for a course on your own, choose one that meets the National Industry Standards for Homeownership Education and Counseling. This indicates that the curriculum provides high-quality, trustworthy advice.

If you’re taking a course to meet a requirement for down payment assistance or other funding, many of the entities that offer such programs will recommend a class that meets these standards.

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