• Tel: (651) 552-3681

    Serving MN WI IA ND SD

    Cambria Mortgage application Cambria Mortgage My Account Joe Metzler Mortgage App

  • First Time Home Buyer Mortgage Rates You Can Brag About

  • Minneapolis, MN: Most special first time home buyer programs, and down payment assistance programs require the home buyer take a qualified home buyer education class.

    Historically, your class requirement was to spend 8-hours all day Saturday, or maybe two four hour classes in the evening. A number of years ago, Fannie Mae, the big buyer of mortgage loans from lenders started offering an online class called FrameWork.

    Framework Home Buyer Education

    The online class quickly became very popular, as first time home buyers could start and stop the training, doing it at home, and as time permits.

    The Framework homebuyer course is the most comprehensive of its kind. It meets HUD guidelines and exceeds the National Industry Standards for Home Buyer Education and Counseling.

    What does that mean for you? Simply that the course is accepted by most local and national mortgage products and first-time homebuyer incentives that require education.

    The only negative was the online class was $75.00, while most classroom programs were only $25.

    Starting in November 2019, Fannie Mae has eliminated the fee, making the online class FREE.

    As not all people either qualify for, or need a first time home buyer class to buy a house. Therefore we still recommend that all potential home buyers, and those in need of down payment assistance first have their application reviewed by a licensed experienced Loan Officer. If a class is needed, we can assist in directing you to a class.

    First time home buyer loan

    Share this: