Conventional or Home Possible® Loans
Arch MI offers complimentary homebuyer education for homebuyers with conventional or Freddie Mac Home Possible mortgages insured by Arch MI.
This homebuyer education is available through BALANCE, a nonprofit financial counseling organization. This course satisfies the pre-purchase homeownership education requirements of Freddie Mac Home Possible® mortgages.
Homebuyers with conventional loans may also benefit from completing the course, although it is not required.
The course covers the homebuying process, including:
- Home affordability and budgeting
- Credit ratings and credit improvement
- Real estate agent selection
- Offer letters
- Home inspections
- The closing process
- The course is completely free for borrowers.
- The course takes about 2 hours to complete.
- Borrowers receive a certificate of completion after passing the final quiz.* Borrowers are encouraged to download this certificate and send it to their lenders.
*A score of 70% is required for successful completion of each module. This course may be taken multiple times by the borrower.
Access the BALANCE Homebuyer Education program
Click here for Instructions
- Go to https://www.housingeducation.org/pathways
- Click on Log In.
- Register by following the instructions on the page, using the information below in the last three fields:
Referred by: Arch Mortgage Insurance Company
Financial institution: Name of Your Lender
Source Code: Arch MI
- Follow the prompts to begin the course.
- Download and save your certificate of completion at the end of the course.* Your lender may require a copy of this certificate.
*You must pass all quizzes at the end of the modules with a score of at least 70%. You may take the quizzes multiple times, if needed.
- You are welcome to complete any other programs that interest you at archmi.balancepro.org.
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NOTE: For technical issues accessing or using the BALANCE Homebuyer Education Program, please call Arch MI’s BalancePro Customer Service Team at 1.877.973.4731.