Homebuyer Education
Arch MI offers access to GSE-approved pre-purchase programs for borrowers financing their home purchases with loans that include mortgage insurance.
Choose the appropriate homeownership education option based on the loan program:
Arch MI offers complimentary homebuyer education for homebuyers with conventional or Freddie Mac Home Possible® mortgages insured by Arch MI.
The CreditSmart® Homebuyer U course will help prepare you to be a successful homeowner while earning the certificate that’s required for Freddie Mac Home Possible® and HomeOne® mortgages.
Buying a home is your most important investment. Learn how to do it on your time with Homebuyer U.
- Tailored experience with tools and trackers.
- Pause when you need to and pick up where you left off — on multiple devices.
- Printable certificate available in English.
- Certificate delivery to your lender, housing professional and co-borrower.
Instructions
- Click on Access CreditSmart button.
- Scroll down to start exploring.
- If you need a homebuyer education certificate to qualify for a mortgage, click Homebuyer U and follow the prompts.
Arch MI offers easy access to complimentary homebuyer education for borrowers with conventional or Fannie Mae HomeReady® mortgages insured by Arch MI.
The no-cost Fannie Mae HomeViewTM course meets National Industry Standards and is designed to be a go-to resource for first-time homebuyers.
Seven modules cover the homebuying process, including:
- Knowing When You’re Ready.
- Saving for Homeownership.
- Understanding the Mortgage Loan Process.
- Shopping for a Home with a Real Estate Agent.
- Making an Offer on a House.
- Getting Ready to Close on Your Loan.
- Welcome to Homeownership!
Instructions
- Use the link on the right to access the interactive course at your convenience and on your preferred device.
- Register with a login and password and click “Start Course” to begin.
- Complete Modules 1 through 7 by following the prompts. The total course runs about 3–4 hours; you can pause and resume your progress as needed.
- Answer the 15-question quiz at the end of the course and earn your Certificate of Completion when you score 80% or above.
- Download and save your Certificate of Completion to give to your lender.
Visit Fannie Mae’s website for other valuable information to help you in your homebuying efforts:
If you have borrowers who want to purchase a 2-4 unit residential property and become landlords, Arch MI offers complimentary landlord education that meets Freddie Mac’s education requirement.
Available to borrowers whose mortgages are insured by Arch MI, the course is offered through BALANCE, a nonprofit financial counseling agency approved by the Department of Housing and Urban Development, and based on Fannie Mae’s “Becoming a Landlord” Guide.
The online course covers the process of becoming
a landlord, including:
- Making the Decision.
- Finding Reliable Tenants.
- Taking Care of Business.
- Getting the Tenant Moved In.
- Maintaining Your Property.
- Taking Care of Financial Responsibilities.
- Ending Rental Tenancies.
- Hiring a Property Manager.
Instructions
- Click on How to Register for Landlord Program button and review instructions.
- Click on Access Landlord Education and follow instructions. This program is free to borrowers.
- This course takes between 4 and 6 hours to complete.
- After completing the study portion of the program, take the “Becoming a Landlord” online exam to receive a Certificate of Achievement.
- Borrowers should download a copy of the certificate and send it to their lender.
This homebuyer education is available through BALANCE, a nonprofit financial counseling organization endorsed by:
- Housing and Urban Development (HUD) to provide housing counseling services.
- Accredited by the Council on the Accreditation of Services for Families and Children, Inc.
- The Pathways to Education course adheres to standards of the National Industry Standards for Homeownership and Education.
The course covers the process of becoming a homeowner, including:
- Home affordability and budgeting.
- Credit ratings and credit improvement.
- Real estate agent selection.
- Mortgages.
- Offer letters.
- Home inspections.
- The closing process.
| Instructions |
|---|
| 1. Click Access Pathways to Homeownership button and log in. |
| 2. Register by following the instructions on the page, using the information below in the last three fields: Referred by: Arch Mortgage Insurance Company Financial institution: Name of Your Lender Source Code: Arch MI |
| 3. Follow the prompts to begin the course. The course is completely free for borrowers and takes about 4 to 6 hours to complete. For assistance, please call the Arch MI Customer Support Number 877-973-4731. Chat is also available and can be found on the Pathways screen. |
| 4. At the end of the course, download and save your certificate of completion. Your lender may require a copy of this certificate. |
| 5. A score of 70% is required for the successful completion of each module. The borrower may take this course multiple times. |
| 6. You are welcome to complete any other programs that interest you at archmi.balancepro.org. |
NOTE: For issues accessing or using the BALANCE Homebuyer Education Program, please call Arch MI’s BalancePro Customer Service Team at 1-877-973-4731.
HUD Homebuyer Housing Counseling Agencies
The U.S. Department of Housing and Urban Development (HUD) identifies community, nonprofit and governmental housing counseling agencies by state on their Website. These programs offer advice on understanding the homebuying process, default prevention, and credit management.