Why You Should Attend a First-Time Home Buyer Class

Buying a home is complicated. Finding a home that meets your needs as well as your budget is a challenge to begin with. Then you will need to navigate the maze of visits, inspections, negotiations, and documents as you work toward the closing. Your real estate agent, mortgage originator, and lawyer can answer many of your questions and will help you through much of the process, but you’ll have a better chance of getting what you need (along with some additional perks) if you educate yourself on the process first.

What will a first-time home buyer class cost me in money and time?

Home buyer courses come in all shapes and sizes. Some are online and take around 45 minutes to complete. Others are in person and take a full day (eight hours). Some cost nothing to attend, while others cost up to $75 to $100. Considering the size of the financial commitment you will make to buy your home, even the more costly courses are relatively inexpensive and brief; and the gains are big, making classes a worthwhile investment in the long run.

How will I benefit from the class?

Taking a course on home buying can help in two big ways. The information you’ll learn will improve your confidence and make you aware of options you may have otherwise missed out on. It can also provide some money-saving perks.

When it comes to information, you can expect to learn the basics. The scope and approach of each class will be different, so you’ll have to search around for one that meets your needs, but here is a list of the things you may learn from a good home buyer class or workshop.

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Some classes offer additional perks. The benefits will vary but for example, taking a class may reduce the amount of down payment you’re required to make on your home. It may also lower the cost of your private mortgage insurance (PMI) and other closing costs and expand the alternate sources of funding you are allowed to tap into to pay for your home.

Before you select a course, it’s a good idea research different classes and workshops to determine what you will learn and what perks you can receive for attending.

Where can I find home buying courses and counselors throughout the state?

Home buying courses are offered in all areas of the state. You can do an internet search to find out what options you have, but here’s a short list of options we suggest to our members to get you started.

In Chittenden, Franklin, and Grand Isle Counties:
Champlain Housing Trust (802) 861-7394
https://www.getahome.org/homebuyer-education/

In Lamoille, Orange, and Washington Counties:
DownStreet Housing and Development (802) 476-4493
https://downstreet.org/home-ownership-center/

In Essex, Orleans, and Caledonia Counties:
Rural Edge (888) 698-8466
https://ruraledge.org/hbe

In Windsor and Windham Counties:
Windham and Windsor Housing Trust (802) 254-4604
https://homemattershere.org/how-to-buy-a-home/

In Addison, Bennington, and Rutland Counties:
NeighborWorks of Western Vermont (802) 438-2303
https://www.nwwvt.org/homebuyer-education/

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About Shari DeLatte

With over 30 years of experience in the banking/finance industry, Shari DeLatte is a mortgage originator who serves the mortgage needs of Vermont families in Chittenden, Franklin, Addison, and Grand Isle Counties. Shari grew up in Colchester, Vermont. She spends her free time antiquing, gardening, and playing cards with friends.

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