What is Home Buyer Education (HBE)?

It is an educational course that covers the complete process of buying a home and becoming a homeowner.  The curriculum includes financial management, credit management, selecting a home, building your buying team (Realtor & lender), mortgage products and disclosures, real estate contract review, inspections, appraisals, closing and post closing information.  They also cover Colorado specific programs including down payment assistance (CHAC, HOEP, CHFA). They will also discuss and teach about the mortgage credit certificate (MCC), a tax credit available to first time home buyers and veterans. As a previous participant of the course I can say from experience they cover items you would never would have thought of, such as, ways to save money on your mortgage over the life of the loan, what to pay attention to regarding a neighborhood of interest, for example they suggest going to the property of interest at different times of the day and just sit outside to listen to the neighborhood sounds, are there dogs that bark at night, do cars speed through the streets, etc. This is just one of the few tips they share. Whether you are a first time home buyer or just re-entering the housing market I highly recommend attending this class. If you are uncertain on where to begin in the home buying process, this would be a great starting place. Home Buyer Education is not always required but is still highly recommended. There are few loan programs such as the down payment assistance programs, CHFA loans and the MCC that do require a home buyer education certificate and the certificate is good for one year. The class is offered online but again I can’t stress enough that attending the class is more beneficial. The online course is $99 and if you attend the course it is free! Click here to find out more info and to see the schedule. If you have any questions or should need any assistance please contact us.