Home Buyer Classes for Washington State

If you are brand new or a little rusty at buying a home, there are some excellent options that are available for you. Some classes feature unique benefits for the students. Before taking one of the courses below, I suggest you reach out to a local, licensed Loan Officer to see if one class may be better suited for your home buying goals.

Here are a few online home buying classes you may want to consider:

Washington State Housing Finance Commission offers an online class. Prior to the pandemic, the offered “live” classes with local real estate agents and loan officers volunteering as the instructors for their approved course. The course cost $50 per person and each person who is going to be on the loan application is required to take the the course IF they want to be eligible for the programs offered by the Washington State Housing Finance Commission. WSHFC offers various mortgage (including FHA, conventional, USDA and VA) programs along with down payment assistance. To register for the home buyers course offered by Washington State Housing Finance Commission, click here.

Fannie Mae offer’s a course where participants may become eligible for Fannie Mae’s Home Ready program. Home Ready offers low down payments, reduced interest rates and reduced private mortgage insurance premiums for qualified buyers. Borrowers must meet income limits based on where the home is located. With this program, only one of the home buyers are required to take the course IF all borrowers are first time home buyers. A bonus feature of the Home Ready program is that boarder income or income from an accessory dwelling unit *might* be able to be used for qualifying income (subject to the income limits). You can take Fannie Mae’s online home buyer’s course here.

Freddie Mac’s program, Home Possible is very similar to what Fannie Mae offers. There is (currently) no cost for Freddie Mac’s class. Like Home Ready, Home Possible offers lower down payments, competitive rates and reduced private mortgage insurance rates. If all buyers are first time home buyers, at least one person on the loan application will need to complete Freddie Mac’s course. A nice feature with Home Possible is that it allows 2-4 unit properties (one unit must be owner occupied). Freddie Mac may also be a better option for home buyers with student loans.  You can take Freddie Mac’s home buyers class here.

You do not have to be first-time home buyers to take the courses or to qualify for the programs. Income limits may apply to the above referenced programs. Check with your local licensed Loan Officer to see which course may be best suited for you.

If you are buying or refinancing a home located ANYWHERE in Washington state, I am happy to help you!

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