Posted By: WHEDA
Prepurchase Home Buyer Ed Fee - 04/22/15 07:13 PM
Is fee for home buyer education/counseling a prepaid finance charge?
I'm leaning toward "yes", if face-to-face, or its equivalent, is required by the lender, regardless of who provides the education, and "no", if face-to-face isn't required by the lender but the borrower obtains the education from a source that charges them a fee. Am I close?
I'm leaning toward "yes", if face-to-face, or its equivalent, is required by the lender, regardless of who provides the education, and "no", if face-to-face isn't required by the lender but the borrower obtains the education from a source that charges them a fee. Am I close?