homebuyer education test

If you ended up on Readynest because your lender said that you need to complete homebuyer education as part of your loan program, you've come to the right place!

MGIC designed Readynest to take you through key homeownership topics step by step, so you can feel more confident throughout the homebuying process.

Are you taking this test to meet your lender’s homebuyer education requirements?
Our free program doesn’t meet requirements for all loan programs, so we don’t want you to waste your time! Be sure to consult with your lender to make sure you fulfill your homebuyer education requirements with an approved program. Note that while our free test meets homebuyer education requirements for Freddie Mac, it does not fulfill requirements for Fannie Mae. These instructions are for homebuyers looking to purchase a single-family home. If you are planning on purchasing a 2- to 4-unit home for rental, go to the Landlord Test.

Other homebuyer education programs 
MGIC is proud to partner with Finally Home!® to provide homebuyer education. Finally Home! exceeds the National Industry Standards for Homeownership Education and Counseling, is provided by a HUD-approved housing counseling agency and meets education requirements for many loan programs. The maximum Finally Home! program fee is $70 but may be as low as $0 based on a borrower’s income.  

Fannie Mae offers homebuyer education through HomeView®.

Freddie Mac also offers homebuyer education through CreditSmart®.

take the test, in 2 easy steps

step one

Study up on the basics of buying and owning a home.

We've made it easy: when you click the "Start here" button below, you'll go to the first topic about getting ready to buy a home. When you finish that topic, just click the "Next Topic" link at the bottom of the article, and so on. Just keep clicking "Next Topic" until you're done! You'll need about 45 minutes.

start here

step two

After you've toured the site, show what you know and register to take the Homebuyer Education Test.

Once you submit your registration information, you'll be taken to the test, where you'll be asked a series of questions drawn from the materials you just reviewed. It's "open book" and should take 15 to 20 minutes. For the best experience, we recommend taking the test in a desktop browser.

Take the test
Readynest and the Homebuyer Education Test are brought to you by MGIC, a private mortgage insurance company. Finally Home® is a registered trademark. HomeView® is a registered trademark of Fannie Mae. CreditSmart® is a registered trademark of Freddie Mac.

homebuyer education test faqs

taking the test

Do I have to pay a fee to take the Homebuyer Education Test?

No, MGIC provides the test at no cost.

Is the test open book?

Yes. Feel free to refer to any of the website content and materials when taking the test to help you answer the questions correctly.

What score do I need to pass the test?

You must achieve a score of 80% or greater. 

How is the test scored?

You'll answer 20 questions about the topics you've reviewed on Readynest. If you don't answer enough of the questions correctly, you will receive additional questions until you have achieved a total score of 80%.

Can I begin the test now and complete it later?

You need to finish the test during the session you begin taking it. If you exit the test without completing it, you will need to start over and retake the entire test.

How long does it take to review the content and complete the Homebuyer Education test?

Most people review the content and complete the test within 60 minutes, but it may take you a longer or shorter amount of time. The test is not timed; however, your web browser could time out after a few hours of inactivity. If this should happen, you'll need to retake the entire test from the beginning.

Can my co-borrower and I take the same test, or do we have to take separate tests? 

You may enter up to 6 borrower names on the test, and each co-borrower will be listed on the Certificate of Achievement. However, you'll need to verify test requirements with your lender to determine whether you and your co-borrower(s) should take the same or separate tests.




certificate of achievement

Will I receive a copy of my Certificate of Achievement?

Yes. You will be emailed a PDF of the Certificate of Achievement to the email address you provide.

Can I save a copy of my Certificate of Achievement?

A PDF of your Certificate of Achievement will be generated for you and you may view, print or save this PDF. You will also be emailed a copy.

How do I correct my name after I received the final Certificate of Achievement?

Contact MGIC Customer Service, 1-800-424-6442.

I received an English copy of my Certificate of Achievement, but I would like it in Spanish.

Contact MGIC Customer Service, 1-800-424-6442.

I lost my Certificate of Achievement. How can I re-print it?

Open the original email notification that was sent to you after you completed the test, and re-print your certificate. If you no longer have the original email, you will need to contact Customer Service at 1-800-424-6442.

I never received a Certificate of Achievement via email.

The email may be in your spam filter. Check to see if you received an email from If not, contact Customer Service at 1-800-424-6442.



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