HMFA Mortgage Programs
Back One Step STEP 3:
Homebuyer Counseling
Forward One Step

If thinking about buying a home causes you to break into a cold sweat or twitch nervously - stop and take a deep breath.  You might want to consider attending a homebuyer counseling course that will give you a step-by-step breakdown of what lies ahead, so that you know what to expect.

Do I need homebuyer counseling?
Most HMFA loans do not require counseling, but there are many benefits to going through a counseling course. 

What are the benefits of homebuyer counseling?
The counseling course is basically a 101 class on buying your first home. It will teach you about the different aspects of homebuying including finding the right home, choosing a neighborhood, different mortgage types and terms, and real estate lingo.

Programs include discussions of:

  • Applying for a mortgage
  • Downpayment and closing cost requirements
  • Credit
  • Making an offer
  • The home inspection
  • Preparing for closing
  • Special considerations for buying condos and multifamily properties
  • Post-purchase issues
  • Budgeting

Where can I locate a homebuying counseling course?
There are many counseling courses held across New Jersey that are offered for free or low cost. To find one near you, go to the U.S. Department of Housing and Urban Development Approved Housing Counseling Agencies website.

Go back to Step 2: Finding an Affordable Property Go on to Step 4:
Available HMFA Lenders


Link to Newsroom New Jersey Housing and Mortgage Finance Agency