Home Buyer Ready Program

– HomePath Ready Buyer Program

Home Buyer Ready Program

Buying a home can be a daunting process, especially for first-time Buyers. At HomePath, we support smart and sustainable homeownership.
That’s why we have partnered with Framework, a leading provider of homeownership education, to offer an interactive, online course perfect for first-time homebuyers who are on the go.

In addition to breaking down the home buying process into easy-to-grasp lessons online, you can also benefit by receiving up to 3% closing cost assistance
toward the purchase of a HomePath property
. It’s simple; just successfully complete the online course to receive a course completion certificate. Give it
to your real estate agent to include it when submitting your initial offer on a HomePath property.

Plus, completion of the HomePath Ready Buyer™ course also meets the homeownership education requirement for Fannie Mae purchase loans*.

Homeownership Education Requirements

  • For HomeReady, if ALL occupying borrowers are first-time homebuyers, then at least one borrower must complete the HomePath Ready Buyer™ course, regardless of LTV.
  • For  other purchase transactions where LTV, CLTV, or HCLTV > 95%, if ALL occupying borrowers are first-time homebuyers, then at least one borrower must complete the HomePath Ready Buyer™ course, regardless of the product chosen.

HomePath Ready Buyer™ is the designated homeownership education tool. However, in certain circumstances, an online format may not be the appropriate option for a potential home buyer and an exception may be necessary:


  • For loans that involve a Community Seconds® or down payment assistance program, buyers may instead complete the homeownership education course or counseling required by the Community Seconds or down payment assistance program as long as it is provided by a HUD-approved agency and completed prior to closing.
  • The presence of a disability, lack of Internet access, and other issues may indicate that a consumer is better served through other education modes (for example, in-person classroom education or via a telephone conference call). In such cases, lenders should direct buyers to Framework’s toll-free customer service line (855-659-2267), which can refer consumers to a HUD-approved counseling agency.
  • Finally, buyers who have already completed housing counseling prior to entering into a sales contract (as evidenced by a completed Fannie Mae Form 1017) are not required to complete the Framework course.
Read about:   Fannie Mae's "New" HomePath: The Home Ready Mortgage

Restrictions apply. See full terms & conditions.

Proceed to HomePath Ready Buyer Course
(disponible en español)

Tell me more about the training.

  • It’s intuitive, self-directed and interactive
  • It breaks home-buying down into easy-to-grasp lessons: most learners finish in 4 to 6 hours. You can fit the course into your busy schedule, during your lunch hour, on the bus …whenever, wherever. 
  • It’s available in English and Spanish.
  • The comprehensive curriculum meets HUD guidelines and exceeds National Industry Standards for Homeownership Education.
  • It has been optimized for seamless learning on both desktop and mobile devices.

Nine out of 10 surveyed say they would recommend the course to a friend.

How do I ask for the 3% closing cost assistance?
After completing the course, you must attach the HomePath Ready Buyer course completion certificate to the initial offer submission on a HomePath property.
Your Real Estate Agent must submit this at initial offer through the HomePath Online Offers system.

Terms & Conditions

To be eligible for the closing cost assistance:

  • Buyers must complete the full online training course on Homepath.com and receive the official Certificate of Completion.

    • Buyer must have completed the HomePath Ready Buyer education course and received a completion certificate prior to the initial offer submission to be eligible for the closing cost assistance.
    • The Certificate of Completion must be attached to the initial offer documents uploaded to HomePath Online Offers.
  • The request for closing cost assistance must be made at the initial offer in the HomePath Online Offers system.

    • The closing cost assistance offer may be adjusted during contract negotiations.
    • Buyers with total closing costs under 3% will not receive the difference as a credit.

    Example: Sales price = $100,000 and 3% is negotiated. The total closing costs and education fee = $3,000

  • Buyer must be a First-Time Homebuyer (did not own a property in the past three years).
  • Buyers must reside in the property as their primary residence within 60 days of closing.
  • Individual buyers using public funds are eligible. Tenants residing in tenant-occupied properties are eligible.
  • The property must be listed on Homepath.com and be eligible for the closing cost assistance.

Fannie Mae reserves the right to end the promotion at any time. Any dispute over this program shall be resolved by Fannie Mae in its sole discretion.

NOTE: HECM, auction, pool and investor sales are not eligible for this program.

Instructions for Buyer’s Agents:
To make the request for closing cost assistance,
include the following verbiage for placement in Section 38 of the Residential Real Estate Purchase and Sale Contract:

  • Seller will contribute up to $________ towards buyer closing costs, points and prepaids.
    In the event that the buyer’s lender restricts the allowable Seller contributions toward Buyer’s closing costs, Seller’s actual and total contribution shall be limited to the allowable amount.
  • If buyer selected their own settlement vendor in section 11f:  Seller will contribute up to $________ towards buyer
    closing costs, points and prepaids, excluding title insurance. In the event that the buyer’s lender restricts the allowable Seller
    contributions toward Buyer’s closing costs, Seller’s actual and total contribution shall be limited to the allowable amount.

* There are other requirements for getting approved for a HomeReady mortgage. Speak with your lender to learn more.

Read about:   Why Buying a Foreclosed House My Be Your Best Bet As a Home Buyer

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