Lenders have continued to deliver loans where the required homebuyer education was not completed prior to purchase, so U.S. Bank cannot purchase these loans. If homebuyer education is required, it must be completed prior to closing. See U.S. Bank's Lender Bulletins 2017-07 and 2017-01. 

The Minnesota Housing Homebuyer Education Policy states: 

Minnesota Housing requires homebuyer education if all borrowers are first-time homebuyers and they obtain:

• A conventional loan, and/or
  
• A downpayment and closing cost loan.
  

Homebuyer education must be completed before closing and at least one borrower per household must provide a certificate of completion before closing. Minnesota Housing’s online commitment system requires lenders to input an education completion date that occurs prior to closing.

Visit our website to find homebuyer education options in your area.