Homebuyer Education

To help Members prepare for the challenges and responsibilities of homeownership, CMG MI believes that prospective homebuyers can benefit from homebuyer education programs sponsored by community, nonprofit and governmental agencies for prospective homebuyers across the country can be useful. The U.S. Department of Housing and Urban Development (HUD) identifies some of these housing counseling agencies by state on their Website (link below). These programs offer advice on understanding the homebuying process, default prevention, and credit management. Research has shown that the mortgage loans of borrowers who completed face-to-face homebuyer education performed better compared to those who did not, a positive outcome for both Credit Unions and their members.

We encourage you to recommend to your Members that they seek out one of the numerous community-based organizations that offer these programs directly to homebuyers.

Click here to find HUD-approved Homebuyer Education availabilities in your area.