Helping borrowers become educated homeowners is an important step in the home buying process. That’s why we have partnered with Financial Pathways, an independent nonprofit agency, to offer education counseling to our lender-partners and their clients.
Enrollment is easy
Just follow the step-by-step instructions on the Financial Pathways' website to register borrowers online or by fax. Be sure to enroll them early in the loan process so they have time to complete this valuable education program.
Borrowers start the course with a series of quick, easy-to- read learning modules, exploring key topics such as:
- How to shop for a home that’s affordable
- How to choose the best mortgage loan for your needs
- How points and closing costs work
- Why home inspections are important
- What to expect when it comes to home maintenance and costs
When they have finished reading, they will complete a brief content review and monthly expense analysis.
Individual phone counseling
Trained, certified education counselors will follow-up with a brief 30- to 40-minute phone interview. Counselors will go over the content review and expense analysis, and ask additional questions, to make sure borrowers understand the home buying process.
When borrowers have successfully completed the interview, a Certificate of Completion will be sent to you to confirm that they have finished the program.
If your borrowers’ loans are insured with Essent, they can participate in this valuable education counseling for free. You can also register your non-Essent borrowers for a one-time fee of just $125.
Financial Pathways' Homebuyer Education program meets Freddie Mac's Home Possibleguidelines; however, it is not currently approved for Fannie Mae's HomeReadyprogram. HomeReady homebuyer education is provided by Fannie Mae's homebuyer education partner, Framework.
Home Possible® is a registered trademark of Freddie Mac.
HomeReady® and Framework® are registered trademarks of Fannie Mae.