Not Ready to Buy a Home?

by Allison Jaffe 05/05/2019

Buying a home tops your long-range goals list, but are you ready? As a first-time buyer, you have loads of questions and concerns. After all, a home loan is an obligation for years into the future. You want to make savvy decisions and be comfortable that you’ve negotiated the best deal. On top of that, learning all about credit scores, how to pre-qualify and the difference between pre-qualification and pre-approval. And what are options and closing costs?

Fannie Mae, the Federal National Mortgage Association (FNMA) government-sponsored enterprise (GSE) that serves the mortgage industry, knows what you need to know about buying a house. They’ve put together a course for new homebuyers called HomePath Ready Buyer Education Program.

Enroll now

The online course lets you attend from the comfort of your sofa. After completion, a “graduate” may qualify for assistance up to three percent of the closing cost of purchasing a qualified HomePath property. You won’t end up with an education loan either. Tuition is just $75, and Fannie Mae says it could even reimburse your tuition during closing on your new home. Now that’s a deal!

What you learn

Because the course design has new buyers in mind, you’ll learn to determine how much you can afford to buy and ways to figure out what home is best for you. Making the deal and learning about down-payment options will get you on your way. Finally, you’ll learn to avoid the pitfalls, and all the navigate the paperwork required to close the deal.

How long does it take?

The entire course is nine 30-minute sessions, so along with the quiz at the end (no final exam though), the total class takes about four to five hours. Designed to be intuitive and self-directed, you can work your way through the course over a few evenings, on your lunch hour, or even during your morning commute (provided you’re not the driver, of course!).

How you benefit

In addition to the three percent closing cost assistance and tuition reimbursement, your Certificate of Completion may qualify you up to take advantage of the First Look program. By giving first-time homeowners an exclusive "first look" at newly-listed foreclosed properties, this innovative program serves new home seekers and promotes neighborhood stabilization.

Fannie Mae relies on real estate professionals to follow through on the home-buying process. For more information, express your interest in the HomePath program to your real estate professional.

About the Author
Author

Allison Jaffe

Welcome to Key Real Estate Services 

Providing professional representation for Sellers and Buyers throughout NYC and the northern suburbs.

Westchester/Rockland/Putnam: 914-661-0340

Manhattan/Bronx/Brooklyn/Queens: 718-874-2877

www.keyrealestateny.com

Meet Our Team

Allison Jaffe, Licensed Real Estate Broker

Office: 914-661-0340 or 718-874-2877, Ext. 2

Call/Text: 718-577-5284

Email: [email protected]

During more than 14 years as an independent broker, Allison has managed all manner of residential real estate sales – single and multi-family houses, condos, co-ops, and mixed-use -- from upper Manhattan, throughout the Bronx and Queens, across Westchester to Putnam and Rockland Counties. Allison specializes as a Sellers Agent, Seniors Real Estate Specialist (SRES), Estate Properties Agent, and a Certified Buyer Representative (CBR). Please see our menu of Client Services to learn more about each of these focused areas of real estate expertise.

"I determined early in my real estate career to focus on the specific needs of my respective clients rather than a specific geographic area. My job isn’t to sell buyers on a town or school district – they know where they want to live – my job is to sell the one property in that location that my client has to sell. My buyer clients want options and having lived and worked in Westchester, Rockland, the Bronx, and Manhattan, I know where to find those options.”

Linda Mancini, Licensed Real Estate Salesperson

Office: 914-661-0340 or 718-874-2877, Ext. 3

Call/Text: 718-619-8022

Email: [email protected]

Linda joined Key Real Estate Services in 2017 to expand our client representation throughout Manhattan, Brooklyn, and Queens. Extending the firm’s core principal of market expertise, Linda specializes in HDFC (Housing Development Fund Corporation) apartments in NYC that keep affordable housing options open to financially qualified families.

"I’m happy to represent the firm’s client-centric, market expertise approach to real estate throughout NYC. After more than thirty years of experience with HDFC properties, I’m able to guide qualified clients through the particular challenges of buying into and selling out of this unique homeownership option.”

Lea Mae de Guzman, Client Care Coordinator

Office: 914-661-0340 or 718-874-2877, Ext. 1

Call/Text: 718-577-5286

Email: [email protected]

Overseeing transaction activity, Lea works directly with Allison and Linda to keep every sale and purchase moving forward efficiently. With her finger on the pulse of each client’s transaction, Lea is at the firm’s administrative hub for scheduling, document processing, and coordinated communication.

"While I attend to the day-to-day clerical and communication needs for all of Key Real Estate Services’ clients, Allison and Linda are free to give their undivided attention to one client at a time in the field. I’m sort of the company's human tracking app that every client can access online, by text, or on the phone.”