Homebuyer Counseling

Ready to begin your journey to homeownership? MMI is proud to offer a variety of homebuyer counseling and education services. Whether you're looking for certification to satisfy the requirements of a loan program or simply want to know more about what it takes to be a successful homeowner, we've got the solution for you. 

How it Works

Prospective homeowners have two primary options: one-on-one homebuyer counseling and self-guided homebuyer education courses.

Homebuyer Counseling

During a one-on-one homebuyer counseling session you'll work together with a trained counselor to review your finances and formulate a plan to help you find a home you can afford. The goal is to help you understand where you stand and what steps you'll need to take in order to save an adequate down payment, qualify for an affordable mortgage, and successfully manage the month to month costs of homeownership.

If applicable, your counselor may discuss available loan programs and their requirements.

You should leave your session with a budget, a clearly defined plan of action, and a certificate of completion (if applicable).

Online Homebuyer Education Courses

In additional to live, one-on-one homebuyer counseling, MMI also offers online homebuyer education courses. These courses are self-paced, engaging, and mobile-friendly. All courses are available in both English and Spanish.

Each course is designed to prepare you for every facet of the homebuying process. You can sign-up and begin a course at any time.

 

Who Can Benefit?

Buying a home is one of biggest financial commitments you can make. Homebuyer counseling and education can help anyone who plans on purchasing a house in the near future, but is especially helpful for consumers who:

  • Are struggling to build a large enough down payment
  • Worry that their credit may not be strong enough to qualify for a prime rate mortgage
  • Don't understand the monthly costs associated with owning a home
  • Need to complete a homebuyer counseling or education course in order to qualify for a specialized loan program     

Why Choose MMI?

We recognize that consumers have options. So what separates MMI?

  1. Quality - MMI is a member of the National Foundation for Credit Counseling (NFCC), Consumer Federation of America (CFA), and National Council of Higher Education Resources (NCHER). We are proud to be accredited by the prestigious Council on Accreditation of Services for Families and Children.
  2. Knowledge - Our training department works hard to assure that our representatives are knowledgeable and cross-trained in multiple areas of financial concern. All counselors must pass a series of tests to become certified.
  3. Accessibility - You can access our services by phone, internet and in person in many markets. Representatives are here 24 hours a day, 7 days a week to meet your needs.
  4. Nonprofit - As a nonprofit counseling agency, our priority is always the success and wellbeing of the people we serve. You can always expect honest, unbiased advice and guidance.
  5. History- MMI has been helping consumers find new ways to overcome financial challenges since 1958.

FAQs

Is there a fee for homebuyer counseling?

There are actually a variety of homebuyer counseling options available, depending on whether or not the counseling is a requirement of a loan program. The fee for any counseling that is NOT a requirement of a loan program is $50. Your counselor will advise you of any fees before counseling begins.  

There are fees for online homebuyer education courses. MMI currently offers a self-guided education course from Framework, which is $75, and a course from eHome America, which is $99.

Do you offer down payment assistance?

MMI as an organization does not offer down payment assistance. However, we do routinely seek grant funding to support such programs and location-specific financial assistance programs may be available in your area. Consult with your counselor to see if programs are available in your area at this time.

Do you offer loans?

No. MMI is not a lender. Completing a counseling session does not qualify you for a loan, though it may fulfill certain requirements of a loan program.

Getting Started

Speak To a Counselor

Homebuyer counseling is available: Mon-Fri, 8am-6pm (CT). Call now to begin immediately or schedule an appointment.

866.889.9347

Online Homebuyer Education Courses 

Self-paced education courses are available 24/7.

Click here to register

Additional Resources

Budgeting for Your First Home

Is it time to start thinking about purchasing your first home? While it may seem like the only thing you need to make that dream a reality is money (a great, big pile of it), there’s a bit more to it. Here are a few tips to prepare yourself financially and mentally, well in advance of the closing date. 

Five Signs You're Ready to Buy Your First House

Are you ready to tackle the responsibility of owning a home? Here are some key signs that indicate you're on your way.

Is Buying a House a Good Investment?

Homeownership is a great dream - but is it right for you? Before investing in a home, here are some important things to consider.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.
  • The National Council of Higher Education Resources (NCHER) is the nation’s oldest and largest higher education finance trade association. NCHER’s membership includes state, nonprofit, and for-profit higher education service organizations, including lenders, servicers, guaranty agencies, collection agencies, financial literacy providers, and schools, interested and involved in increasing college access and success. It assists its members in shaping policies governing federal and private student loan and state grant programs on behalf of students, parents, borrowers, and families.

  • Since 2007, the Homeownership Preservation Foundation (HPF) has served as a trusted, neutral source of information for more than eight million homeowners. They are partnered with, and endorsed by, numerous major government agencies, including the U.S. Department of Housing and Urban Development and the Department of the Treasury.

  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.