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Pre-purchase homebuyer education

Pre-purchase Homebuyer Education

VHFA requires at least one borrower to complete both homebuyer education and counseling prior to closing for all VHFA mortgage programs.

For borrowers obtaining down payment and closing cost assistance from any source, education and counseling must be completed with a local Vermont Homeownership Center. You can enroll in online education or go directly to the Homeownership Center site to sign up for in-person education. Once education is completed in person one-on-one counseling is scheduled with the Homeownership Center. After the counseling the Homeownership Center will issue a certificate of completion.

For borrowers not obtaining down payment and closing cost assistance, education and counseling must meet HUD-approved standards.  You can enroll in online education. Once education is completed one-on-one counseling is scheduled. After counseling a certificate of completion is issued.

Benefits of Homebuyer Education

Complete the homebuyer education early in the process to put what is learned to practical use from the very beginning:

  • Learn to calculate how much home you can afford.
  • Become familiar with home buying terminology.
  • Better understand the home buying process.
  • Understand the steps to reach key milestones like when a purchase and sale agreement is signed, when a home inspection occurs, what is the lender appraisal and more.
  • Introduces budget planning resources to use once you are a homeowner.