Freddie Mac is announcing it has put a critical homebuyer education course online. The new tutorial, called CreditSmart® Homebuyer U is free and its successful completion satisfies the HomeOneSM or Home Possible® mortgage homeownership education requirement.

CreditSmart Homebuyer U offers six educational modules, each focused on a key learning principle relating to money management, credit, getting a mortgage, the homebuying process and preserving homeownership. It is the latest addition to the CreditSmart "suite" of financial and homeownership education curricula that have been in place for the last 18 years.   

"Becoming a homeowner is an important responsibility and Freddie Mac is committed to providing the tools and resources to ensure a successful path toward sustainable homeownership," said Danny Gardner, Senior Vice President, Single-Family Affordable Lending and Access to Credit at Freddie Mac. "The goal of this exceptional program is to empower those who are pursuing the dream of homeownership with knowledge to make informed, responsible decisions."

A recent survey of older members of Generation Z (those aged 14 to 23) conducted by Freddie Mac, found that age group had received financial education at home and are at least somewhat confident in their future financial well-being. However, 65 percent of respondents said they are not confident in their knowledge of the mortgage process.

"This survey data also reveals that while members of Gen Z clearly aspire to homeownership, an education program like CreditSmart Homebuyer U is needed and can make a positive impact not only on today's aspiring homeowners, but on future generations as well," added Gardner.

The six modules are each focused on key learning principles to promote education, homebuyer preparedness and financial management.

  • Module 1: Overview & Introduction of the Homebuying Process
  • Module 2: Managing Your Money
  • Module 3: Your Credit and Why It Is Important
  • Module 4: Getting a Mortgage
  • Module 5: Finding a Home and Closing on a Loan
  • Module 6: Preserving Homeownership

Freddie Mac says the on-line availability of the course makes it possible for consumers to learn at their own pace while using multiple devices and logging in and out while saving their progress. A printable certificate of completion with the user's name is generated after successfully completing the final quiz. A copy of the certificate is also provided to the lender.

More information on the tutorial here.