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Step 3: Homebuyer Counseling

You can find good information on buying a home from trusted websites, family and friends, but nothing is better than speaking with an expert. Attending a homebuyer counseling course will help you understand the complexities of buying a home, and will prepare you for the responsibilities of homeownership.

Do I need homebuyer counseling?

First-time homebuyers: At least one borrower signing the mortgage note and purchasing a single-family, condominium or multifamily property must complete a homebuyer education program by a MassHousing-approved Homebuyer Counseling Agency in order to qualify for a MassHousing loan.

Multifamily Properties: At least one borrower signing the Note (whether or not first-time homebuyers) and purchasing a multifamily property must complete a landlord-counseling program by a MassHousing-approved Homebuyer Counseling Agency in order to qualify for a MassHousing loan.

These classes must be completed prior to closing the loan.

What are the benefits of homebuyer counseling?

Homebuyer counseling will help you understand all aspects of buying and owning a home. You’ll learn about finding the right home, choosing a neighborhood, mortgage types and terms, and real estate industry terminology.

Programs include discussions of

  • Applying for a mortgage
  • Downpayment and closing cost requirements
  • Credit
  • Making an offer
  • The home inspection
  • Preparing for closing
  • Special considerations for buying condos and multifamily properties
  • Post-purchase issues
  • Budgeting

Where can I locate a homebuyer counseling course?

Homebuyer counseling courses are held in communities across Massachusetts. Find a MassHousing approved homebuyer counseling course near you.