With the Home Possible program you can do a free course for the home buyer education, is there a free option with Home Ready? Or do we have to go with the Framework Home Ownership Course? I know I can just give the client a $75 lender credit, but want to know if there is another route here. -Thanks

Hello Brock Walker,

The customer only has 3 options for Homeready-
1. Homebuyer counseling ONLY if completed prior to execution of contract, agency providing the counseling will have to complete Certificate of Completion of Housing Counseling (Fannie Mae Form 1017), signed by both the counseling recipient and the HUD counselor.
2. Framework
3. If they are also use a down payment assistance program in conjunction with the Homeready loan that requires their own homeownership counseling/education, that can be used as long as it is HUD approved. See below grid

Summary of Homeownership Education and Housing Counseling Options

	Homeownership Education	Housing Counseling
Provider	Framework Homeownership, LLC; or Education course provided by a Community Seconds or other down payment assistance program provider, where the program requires its own homeownership education or counseling provided by a HUD-approved counseling agency	HUD-approved Counseling Agency
Method of Delivery	On-line if provided by Framework, or any method offered by provider Note: For borrowers who have a disability, lack of Internet access or other situation where another form of education (other than on-line) may be more appropriate, Framework will provide a referral to a HUD-approved counseling agency that can meet their needs.	In person, telephonic or video conferencing per HUD standards
Date Required for Completion	Prior to loan closing	Prior to execution of the sales contract
Required Documentation	Certificate of Course Completion from Framework (or alternate provider based on Framework referral, if applicable); or Certificate of completion from provider	Certificate of Completion of Housing Counseling (Fannie Mae Form 1017), signed by both the counseling recipient and the HUD counselor.