The course addresses homebuyers’ lack of confidence in their understanding of the mortgage process
Freddie Mac has announced the launch of CreditSmart Homebuyer U, a comprehensive homeowner education course for people thinking of purchasing their first home.
The free, online resource aims to assist prospective homebuyers who want to learn about home purchase and the homeownership process. The course offers six educational modules that are focused on money management, credit, getting a mortgage, the homebuying process, and preserving homeownership.
Around 65% of Gen-Z respondents reported that they are not confident in their knowledge of the mortgage process despite getting financial education at home, according to a recent Freddie Mac survey.
“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,” said Danny Gardner, senior vice president of single-family affordable lending and access to credit at Freddie Mac.
Freddie Mac said that it wants to emphasize the importance of education in supporting financial capability skills among consumers to help them prepare for homeownership.
“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,” Gardner said. “The goal of this exceptional program is to empower those who are pursuing the dream of homeownership with knowledge to make informed, responsible decisions.”