Class Is In Session For Prospective Homebuyers

March 3, 2022 at 10:30am in Homeownership
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The expression “knowledge is power” applies to the homebuying process. In this context it might be even more appropriate to say, “knowledge can save you thousands of dollars.”

Understanding which loans may be right for you, knowing what inspections need to take place or how energy efficient homes can free your money for other priorities are important aspects of buying a home.

Classes For Prospective Buyers

To help prospective buyers get the info they need, Alaska Housing Finance Corporation offers two types of free classes. 

  • HomeChoice™ is a six-hour class, held over three days, that is currently offered by webinar. Experts discuss a variety of topics, including how to shop for a lender or real estate professional, how to get a loan, purchase and sale contracts, and many other vital components of buying a home.

  • Finally Home! Is an online home study course that can be taken at your leisure. It provides similar information to HomeChoice. 

Helpful Information

More than 90% of HomeChoice™ and FinallyHome! attendees say they’ve felt more confident buying a home after participating in the classes. Michael M. was considering a purchase when he completed the course in late 2021 and was grateful for the information he received. 

“I appreciated the in-depth description of the different loans and qualifying criteria,” he said. “Also, I found the information concerning house inspectors and the disclosure form helpful.”

Who Is Taking The Classes?

The classes are popular for first-time homebuyers: 94% of Finally Home! and 83% of HomeChoice™ attendees were buying their first home. Meanwhile, 76% of individuals who took HomeChoice™ classes and 56% attending FinallyHome! were in the gathering information stage or prequalifying for loans. And the highest percentage of Finally Home! attendees are women (62%) and Millennials (64%).

“It was all great information,” said Dana D., who was considering a purchase. “From preapproval to prequalifying, the financing process, having a list of stages and documents … (this will help me) to be better prepared.”

Sign Up For Classes Today

Ready to learn more about the homebuying process? Register for one of our education sessions.

 

Editor's note: Data contributed by Maria Celli, HomeChoice™ instructor.