Buying your first home is exciting, and it can also feel overwhelming. One of the best things you can do before and during the process is educate yourself. The more you understand about mortgages, homeownership costs, and the buying process, the more confident you'll feel when the time comes to buy a home.
Here is a roundup of free and low-cost resources designed specifically for first-time homebuyers in Maine, New Hampshire, Vermont, and across the country.
National Resources
Consumer Financial Protection Bureau (CFPB) and Housing and Urban Development (HUD) Housing Counselors
The U.S. Department of Housing and Urban Development (HUD) sponsors housing counseling agencies throughout the country. These agencies can provide personalized advice on buying a home, understanding your loan options, and resolving credit issues, often at little or no cost to you. The CFPB's website makes it easy to find an approved housing counselor near you.
Find a Housing Counselor | Consumer Financial Protection Bureau
Freddie Mac CreditSmart® Homebuyer U
Freddie Mac, the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise that offers a free, self-paced online homebuyer education course through its CreditSmart® program. The Homebuyer U curriculum covers the full arc of homeownership, from building credit and saving for a down payment to understanding mortgage options and what to expect at closing. Completing the course may even be a requirement for certain first-time homebuyer loan programs.
Freddie Mac CreditSmart® Homebuyer U - Freddie Mac CreditSmart
State Resources
Maine
hoMEworks Homebuyer Education Classes
Maine residents can access homebuyer education through hoMEworks, a program that offers both in-person and online courses covering the home buying process, mortgage basics, credit, and budgeting. Completion of a hoMEworks course is required for many of Maine's homebuyer assistance programs.
https://www.mainehousing.org/education/home/homeworks-homebuyer-education-classes
New Hampshire
AHEAD
New Hampshire residents can find homebuyer education and counseling through AHEAD, Affordable Housing Education and Development. AHEAD provides workshops and one-on-one counseling to help prospective buyers understand their options, navigate the mortgage process, and prepare for the responsibilities of homeownership.
NHFFA
The New Hampshire Housing Finance Authority (NHHFA) offers comprehensive homebuyer education resources, including free housing counseling, financial education, and more. Their programs connect individuals with trusted tools, counselors, and information to help homebuyers understand options and make informed housing decisions.
Vermont
Vermont Housing Finance Agency (VHFA)
The Vermont Housing Finance Agency offers homebuyer education resources through its website, including information about approved education courses that may be required for first-time homebuyer loan programs. Vermont residents can find course options, learn about down payment assistance programs, and access tools to help them prepare for homeownership.
https://vhfa.org/homebuyers/education
Why These Resources Matter
Many first-time homebuyer loan programs, including certain state-backed mortgages and down payment assistance programs, require completion of an approved homebuyer education course. Even when it's not required, taking the time to learn about the process can help you feel more prepared, ask better questions, and avoid common mistakes.
Have questions or need assistance?
If you have questions about this topic or need assistance with your mortgage needs, please speak to one of our mortgage loan officers at your local Bar Harbor Bank & Trust branch. We're here to help you make confident, informed decisions every step of the way.
