The homebuyer education must be taken from a provider approved by one of the FHLBank designated organizations shown below. Homebuyers may take the homebuyer education course from any approved provider regardless of the state in which the property being purchased is located.
Homebuyer education must be completed within the current or previous calendar year of the purchase closing date. Ensure the homebuyer education provider has included the date of course completion on the homebuyer education certificate.
For households with more than one homebuyer, only one homebuyer must complete the homebuyer education course and be named on the certificate.
If the homebuyer education is taken in a classroom or face-to-face setting, the certificate must be signed by the provider. If the course is taken online, the certificate must be signed by the homebuyer. If the certificate does not provide a signature line, the homebuyer may sign in any open space on the certificate.
HSP grant funds may be used to cover the cost of the homebuyer education if:
- The cost of the course does not exceed $500.00.
- The cost has not been covered by another funding source.
- The cost is identified on the Closing Disclosure.
FHLBank recommends the required homebuyer education course be taken prior to the loan closing.