Counseling for First-Time Homebuyers

Chapter 3
Mortgage Credit Guidelines
Page 3-03

Counseling must be provided by a HUD-approved Counseling Agency, non-profit, or for-profit organization engaged in homebuyer education, which meets Fannie Mae, Freddie Mac or FHA requirements. Homebuyers should not pay a fee for the counseling.  

In addition, you must place the lender certification of Housing Counseling Completion on the TOP of the right hand side of the case binder. The Lender’s Certification should give the borrower’s name, date counseling completed and the lender’s certification that the counseling meets FHA guidelines.

Please see ML# 96-48, 97-37, and  98-1.