Have you been wondering if a first-time homebuyer education and coaching program is for you? A study reported by HUD could help you decide. The results of the study show that homebuyers who have completed a first-time homebuyer program are 1/3 less likely to fall 90 or more days behind on their mortgage than homebuyers that bought a home without homebuyer education and coaching. That is a huge difference and one that you should think about.
Still not convinced?
Another study reported by Freddie Mac found similar results with a 29% improvement in default rates over first-time buyers who did not complete a first-time education program. Additionally, the Freddie Mac study showed that there is a financial benefit to homebuyer education programs that averages $1,000 for the homebuyer. That is more than enough to cover the cost of the program. The bottom line is that First-Time Homebuyer programs work and they can save you a lot of money.
Want to learn more about Homeownership education and coaching in the greater Dayton area?
The HomeOwnership Center of Greater Dayton is a HUD approved non-profit agency that promotes sustainable homeownership. We provide classes on-line and in person. Call us at 937.853.1600 or learn more here: First-Time Homebuyer Program.