Module Summary
Once clients have a better understanding of their financial ability to afford housing, housing counselors can provide additional information to help them make an informed decision about their housing options. In this module, you’ll learn about different types of mortgages and related costs, including mortgage insurance. You’ll also learn to identify funds available to potential homebuyers for down payment assistance, as well as sources of rental assistance and other resources available to future tenants.

Learning Objectives
By the end of this module, counselor will be able to:

• Apply an understanding about the different types of mortgage loans that may be used by a client to purchase a home and counsel the client on which types of mortgage loans may be appropriate for use given the client's specific circumstances.
• Apply knowledge of how FHA and private mortgage insurance works to discuss the costs and benefits of these options with a client.
• Apply knowledge of down payment and closing cost assistance programs to analyze a client's circumstances, income, and overall credit profile to determine eligibility for local mortgage and down payment assistance programs, and be able to determine if financing can be layered with HUD/FHA products.
• Apply knowledge of HUD and local tools available when providing a client with information about the criteria and eligibility of affordable rental housing or assistance programs available, including Section 8.