Homebuyer education must be provided by or based on one provided by, an organization experienced in homebuyer education. FHLBank has determined that the organizations listed below meet these criteria. The homebuyer education provider must be approved by one of these organizations to be accepted for HSP. Freddie Mac-approved providers can be found in AllRegs and Fannie Mae-approved providers can be found in the Selling Guide.
General homebuyer education requirements:
Homebuyer education must be completed within the current or previous calendar year of the purchase closing date. The date of course completion must be visible on the homebuyer education certificate.
Only one adult household member must complete the homebuyer education course and be named on the certificate.
The provider must sign the certificate if the course is taken in a classroom or face-to-face setting. The homebuyer must sign the certificate if the course is taken online.
If Homebuyer Education is taken through an online platform, such as EHomeAmerica, ensure the provider meets FHLBank Requirements. EHomeAmerica is not the Homebuyer Education provider.
FHLBank recommends the required homebuyer education course be taken prior to the loan closing.