Homebuyer Education

Pre-purchase homebuyer education is designed to prepare first-time homebuyers to make informed choices about homeownership.  Minnesota Housing supports homebuyer education and recommends it for all homebuyer considering homeownership, and requires completion of Qualified Homebuyer Education for some loans.  Check with a Minnesota Housing participating lender for specific Homebuyer Education requirements.

The Minnesota Home Ownership Center's website at www.hocmn.org provides a listing of homebuyer education providers and classes throughout the state.

Home Equity Conversion Counseling/Reverse Mortgages

A Home Equity Conversion or Reverse Mortgage is designed to assist primarily senior homeowners (as defined by the participating lender), to be able to spend the equity in their home while still continuing to live there. In order to receive this type of mortgage, homeowners are required to receive counseling specifically designed to educate the homeowner on the options available under a reverse mortgage. Counseling is delivered through HUD-certified Home Equity Conversion Counseling organizations.

Don't Borrow Trouble

The Don't Borrow Trouble Minnesota Campaign is a public education initiative aimed at stopping predatory lending practices in the Twin Cities seven-county metropolitan area. The Campaign seeks to educate families and individuals about how to avoid predatory lending scams and about available community resources. The Don't Borrow Trouble help line has been established at 612-312-2020 to offer families a safe place to call before they sign anything that puts their home at risk.