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Announcement 20-0008: FNMA HomeReady Homebuyer Education Update

February 6, 2020


Fannie Mae is eliminating lender-provided homebuyer education as an option for meeting the HomeReady Homebuyer Education requirement.

Effective for loans closed March 1, 2020 and later, any Fannie Mae Homebuyer Education requirement must be satisfied using the Framework course or HUD-approved counseling, as explained below.  Fannie Mae has removed the $75 fee previously charged for the Framework course.

Required Homebuyer Education

For HomeReady purchase loans, if all occupying borrowers are first-time homebuyers, homeownership education is required for at least one borrower, regardless of LTV.

Borrowers may:

  • Complete the Framework homeownership education course (at no cost) prior to closing at; or
  • Receive housing advising from a HUD-approved nonprofit housing counseling agency, as evidenced by a signed Certificate of Completion of Pre-purchase Housing Counseling (Form 1017) prior to the borrower signing a purchase contract.

Framework’s online education may not be appropriate for all potential home buyers. The presence of a disability, lack of Internet access, and other issues may indicate that a consumer is better served through other education modes (e.g., in-person classroom education, telephone conference call, etc.). In these situations, consumers should be directed to Framework’s toll-free customer service line 1-855-659-2267, from which they can be directed to a HUD-approved counseling agency that can meet their needs. The counseling agency that handles the referral must provide a certificate of completion, and the Lender must retain a copy of the certificate in the loan file.


Please contact with any questions.

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