United Guaranty Insights
A First Step for First-Time Home Buyers
By Randolph Repeta, Vice President of Operations Support
United Guaranty Corporation
Posted on July 17, 2015
What's the best advice you can give to first-time home buyers?
Recommend a free, online course covering all aspects of the home purchasing process that will make them savvier buyers and help qualify them for special loan programs.
United Guaranty's online Home Ownership Course is free and fulfills the educational component for first-time home buyers seeking to qualify for special loan programs such as Freddie Mac's Home Possible® mortgages and Fannie Mae's MyCommunityMortgage®. The programs are designed to make loans more accessible and affordable for first-time home buyers.
United Guaranty's online course is divided into sections to allow new home buyers to finish sections at their own pace—or complete all the lessons in one session (of about two to three-and-a-half hours).
Some lenders require in-person counseling, a qualifying online education program, or both. United Guaranty's pre-purchase educational program adheres to the widely recognized requirements of the National Industry Standards for Homeownership Education and Counseling Association. Freddie Mac also offers its own CreditSmart® tutorial program.
United Guaranty's program covers subjects ranging from renting versus buying to pre-qualifying, tracking personal spending, and evaluating mortgage options.
Our website also has a section for first-time home buyers with a cost comparison showing the lower cost of owning a typical home versus renting, as well as a variety of down payment options with mortgage insurance.
So, when friends have questions about purchasing a home, point them to United Guaranty's Homeowners Educational Certification Program.
Randolph Repeta is the Vice President of Operations Support at United Guaranty. He joined United Guaranty in 2010 and currently is responsible for the Enterprise Training, Premium Servicing, and Digital Operations departments, as well as the Business Systems Analysis and System Coordination teams. Randolph previously worked at AON, Philips Electronics, and American Express managing call center and other back office functions. He received his BA in Economics from the University of Chicago and his MBA from Wake Forest University.
© United Guaranty Corporation 2015. All rights reserved. United Guaranty is a marketing term for United Guaranty Residential Insurance Company and United Guaranty Mortgage Indemnity Company and is a registered mark. Coverage is available through admitted company only.