Fannie Mae HomeView Expands Access to Homeownership Education Resources and Prepares Consumers for Every Step of the Homebuying Process
WASHINGTON, January 12, 2022 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) today announced the launch of HomeView™, the company’s new online homeownership training course, to help consumers navigate the process. mortgage and buying a home confidently and responsibly. Available for free and accessible online at any time on any device at fanniemae.com/educationHomeView provides comprehensive, easy-to-understand content and resources designed to ensure aspiring buyers are well-equipped to become more informed and successful homeowners.
Fannie Mae HomeView provides a clearer path to homeownership for more qualified potential buyers.
The complexity of the home buying process and misinformation or lack of understanding of qualification requirements can discourage potential buyers from taking their first steps towards home buying. According to Fannie Mae research, the majority of consumers don’t know the minimum credit score, down payment and debt-to-income ratio needed to qualify for a mortgage, and less than 1 in 4 know that the options at low down payment are available. In addition, homeownership education that aligns with the National industry standards is necessary for many first-time home buyers to qualify for certain mortgage products, including low down payment loans. Fannie Mae’s HomeView addresses this need by providing lenders and potential home buyers with an easy, free way to access essential homeownership education. By expanding access to reliable housing and financial literacy, Fannie Mae provides a clearer path to homeownership for more qualified homebuyers, including low- and middle-income and minority borrowers, helping thereby advancing housing equity and closing the home ownership gap in these communities.
“Fannie Mae is committed to creating equitable and sustainable homeownership opportunities for more people. With HomeView, we’re providing aspiring homeowners with free tools and information that will demystify the home buying process. a home and put sustainable homeownership within reach,” said PJ McCarthy, Vice President of Affordable Lending and Housing Equity, Fannie Mae. “Expanding access to quality, reliable homeownership education is a proven first step in enabling buyers to become successful homeowners. HomeView puts people on the path to homebuying. a home while setting them up for long-term success.”
Fannie Mae Data National Housing Survey® Q2 2021 show that consumers continue to want information about buying and owning a home, but lack a trusted, centralized source. Among those surveyed, all consumer segments – renters and owners, and of all races and ethnicities – said they were very interested in knowing the price of the house they could afford as well as their financing options. In particular, Black renters expressed the greatest interest in learning more about the home buying process, including required documents, how to get pre-approved from a lender, potential assistance programs down payment and best practices for personal finance and credit score management.
“For many buyers, especially first-time homebuyers, the mortgage and homebuying life cycle can be daunting and overwhelming. Having a single, trusted source of information in common , everyday language can make a difference for aspiring homeowners no matter where they are on their housing journey. That’s why we’re so proud to launch HomeView,” McCarthy said. “As a leader in real estate finance and Mortgage in the United States for more than 80 years, Fannie Mae has been able to provide intuitive, credible, on-demand learning to empower all consumers to become more engaged and informed homeowners. We are investing in a full lifecycle education portal that will continue to be updated and tested, providing additional resources and support. And by making HomeView available for free, we’re removing the cost barrier for low-income borrowers to meet the homeownership education requirement for more affordable mortgages.
Fannie Mae has worked with consumers and industry experts, including housing advisors, mortgage insurers, government agencies and other stakeholders, to ensure HomeView content aligns with standards. industry standards for pre-purchase homeownership education and addresses common homebuyer gaps and issues. The course includes seven interactive learning modules that guide the user through the steps of buying and owning a home:
Know when you’re ready
Save to own
Understand the mortgage process
Buying a house with a real estate agent
Make an offer on a house
Preparing to take out your loan
Welcome to home ownership
The course’s interactive components are designed to be completed in 30 minutes or less, and consumers can pause and resume at any time. Users who complete the course and score 80% or higher receive a certificate of completion to share with their lender to meet training requirements for most mortgage products, including low down payment loans.
HomeView also provides access to tools and resources, including checklists and calculators, and a link to find local HUD-approved housing counselors for consumers who want additional support through the process. buying and owning a home. There is no limit to the number of times users can follow HomeView modules or access available resources. At launch, HomeView content is available in English and additional language options will be available in the future.
View the online course and materials at fanniemae.com/education.
About Fannie Mae
Fannie Mae helps make the 30-year fixed rate mortgage and affordable rental housing possible for millions of people in America. We partner with lenders to create housing opportunities for people across the country. We are making positive changes in housing finance to make the home buying process easier, while reducing cost and risk. To learn more, visit:
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