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Financial Glossary

Every financial term you need, in one place. Browse hundreds of clear, plain-language definitions—covering credit, banking, retirement, investments, and more.

Click a tab to view terms by letter group, or scroll through to quickly find the definition you need. This is your Money Fit dictionary—made for everyone.

A–C

Adjustable-Rate Mortgage (ARM)
A home loan with an interest rate that may change periodically based on market conditions.
Allowance
A set amount of money given regularly, often by parents, to teach budgeting and saving.
Amortization
The process of gradually paying off a loan through regular payments that include principal and interest.
Annual Fee
A yearly charge for using certain financial products, like credit cards or investment accounts.
Annuity
A financial product that provides regular income payments, often used in retirement, either for a fixed period or for life.
APR (Annual Percentage Rate)
The yearly interest rate charged on borrowed money or earned on investments.
Asset
Anything of value that you own, such as cash, property, or investments.
Asset Allocation
The way investments are divided among asset classes like stocks, bonds, and cash to balance risk and reward.
Assisted Living
A residential facility that provides personal care, meals, and limited medical services for seniors.
ATM (Automated Teller Machine)
A machine that lets you withdraw, deposit, or check account balances using a debit card.
Auto Insurance
Insurance that covers damages or liabilities from operating a vehicle; often required by law.
Balance Transfer
Moving debt from one credit card to another, often to take advantage of lower interest rates.
Bank Account
A financial account held at a bank that allows deposits, withdrawals, and money management.
Bankruptcy
A legal process for individuals who can’t repay debts; can severely impact credit and future borrowing.
Beneficiary
The person(s) designated to receive assets, insurance payouts, or retirement funds upon the account holder’s death.
Bond
A fixed-income investment where you loan money to an entity (corporate or government) in exchange for periodic interest payments and return of principal.
Budget
A spending plan that tracks income and expenses to manage money effectively.
Budget Deficit
When expenses exceed income over a given time period.
Buy Now, Pay Later (BNPL)
A service that allows you to buy now and pay in installments, often with no interest if paid on time.
Capital Gain
Profit from the sale of an asset such as stocks, real estate, or other investments.
Capital Preservation
An investment strategy focused on protecting the original amount invested, rather than growth.
Cash Flow
The total amount of money being transferred in and out of your household or business.
CD (Certificate of Deposit)
A time deposit account offering fixed interest over a set term, often used by seniors for low-risk savings.
Certificate of Deposit (CD)
See CD above; often used interchangeably.
Charitable Remainder Trust (CRT)
A type of trust that allows you to donate assets, receive income during your lifetime, and reduce estate taxes.
Checking Account
A type of bank account that allows frequent withdrawals and deposits; often used for daily expenses.
Child Tax Credit
A tax benefit for parents with dependent children.
Compound Interest
Interest calculated on both the initial principal and any previously earned interest.
Continuing Care Retirement Community (CCRC)
A retirement community offering independent living, assisted living, and skilled nursing care under one contract.
Cost of Living Adjustment (COLA)
An increase in income (usually Social Security) to keep pace with inflation.
Credit
The ability to borrow money now and pay it back later, usually with interest.
Credit Card
A card that allows you to borrow funds up to a limit for purchases, with the agreement to pay back with interest if not paid in full.
Credit Limit
The maximum amount a person can charge on a credit card.
Credit Report
A detailed record of your credit history, used by lenders to evaluate borrowing risk.
Credit Score
A number (typically 300–850) that indicates how likely someone is to repay borrowed money.
Credit Utilization Ratio
The percentage of available credit you’re using; a factor in credit scoring.
Custodial Account
A financial account managed by an adult for a minor, typically for savings or investment.

D–F

Debt
Money owed to others, typically as a result of borrowing.
Debt-to-Income Ratio (DTI)
A measure of how much debt you have compared to your income, used by lenders to assess creditworthiness.
Deductible
The amount you pay out-of-pocket on insurance claims before coverage kicks in.
Deduction (Tax)
An expense that can be subtracted from gross income to reduce taxable income.
Default
Failure to repay a loan according to agreed terms.
Direct Deposit
A way for employers to electronically transfer your paycheck into your bank account.
Discretionary Spending
Non-essential spending (e.g., eating out, streaming services).
Diversification
Spreading investments across different assets to reduce risk.
Down Payment
An initial payment made when buying something expensive, like a home.
Drawdown
The process of withdrawing funds from retirement accounts.
Durable Power of Attorney
A legal document granting someone the authority to make financial decisions on your behalf if you become incapacitated.
Earned Income
Money received from employment or self-employment.
Emergency Fund
Savings set aside for unexpected expenses like car repairs or medical bills.
Entrepreneur
Someone who starts and runs their own business, often taking on financial risks.
Escrow
A financial arrangement where a third party holds funds until a transaction is completed (often used in home buying).
Estate Plan / Estate Planning
Preparing legal documents and strategies to manage a person’s assets after death or incapacitation.
Executor
A person legally appointed to manage a deceased individual’s estate.
FICO Score
A type of credit score widely used by lenders to assess credit risk.
Fees
Charges for services such as overdrafts, late payments, or account maintenance.
Fiduciary
A person legally obligated to act in the best interests of another, such as a financial advisor or trustee.
Financial Abuse
The illegal or improper use of an older adult’s money or assets, often by someone in a position of trust.
Financial Aid
Money to help pay for education expenses, which can come in the form of grants, loans, or scholarships.
Financial Planner
A professional who helps clients manage finances, plan for retirement, and achieve financial goals.
Final Expenses
Costs associated with end-of-life, such as funeral services, burial, and medical bills.
Fixed Expenses
Regular, predictable expenses (e.g., rent, phone bill).
Fixed Income
Income that does not change, such as Social Security, pensions, or annuity payments.
Flexible Spending Account (FSA)
A pre-tax account used for medical or dependent care expenses.
Foreclosure
The legal process of a lender taking control of a property after a borrower fails to make mortgage payments.
Fraud Alert
A warning placed on your credit file to prevent identity theft.

G–L

Grace Period
The time you have to pay a credit card bill without interest being charged.
Grant
Financial aid for education that does not need to be repaid.
Grantor
A person who creates a trust or donates property to it.
Gross Estate
The total value of a deceased person’s assets before liabilities and taxes are deducted.
Gross Income
Total earnings before taxes and other deductions.
Guardianship
A legal relationship where a court grants one person the authority to care for another (often used in cases of mental incapacity).
Healthcare Proxy
A legal document appointing someone to make medical decisions for you if you’re unable to do so.
Health Savings Account (HSA)
A tax-advantaged savings account for people with high-deductible health plans, used for medical expenses.
Home Equity
The portion of your property you truly own; calculated as the home’s value minus the mortgage balance.
Home Equity Conversion Mortgage (HECM)
The most common type of reverse mortgage, insured by the FHA.
Income Tax
A tax levied by the government on income earned by individuals and businesses.
Index Fund
A mutual fund or ETF that tracks a specific market index, like the S&P 500.
Individual Retirement Account (IRA)
A tax-advantaged account for retirement savings.
Inflation
The rate at which the general level of prices for goods and services rises, reducing purchasing power.
Inflation Risk
The risk that the cost of goods and services will increase faster than your income or savings.
Inheritance
Assets passed down from one person to another after death.
Installment Loan
A loan repaid over time with a set number of scheduled payments.
Interest
The cost of borrowing money or the reward for saving it.
Internship
A short-term job or training opportunity that offers work experience, often unpaid or low-paid.
Investment
Putting money into something (e.g., stocks, a business) with the expectation of earning a profit.
Irrevocable Trust
A trust that cannot be modified or revoked once it’s been created, often used to remove assets from an estate.
Liability
A financial obligation or debt.
Liability Insurance
Coverage that protects against claims resulting from injuries and damage to people or property.
Liquidity
How easily an asset can be converted into cash without loss of value.
Living Trust
A trust created during your lifetime to hold and manage your assets; it may help avoid probate.
Living Will
A legal document stating a person’s wishes regarding medical treatment if they become incapacitated.
Loan
Money borrowed that must be repaid with interest, typically over a set period of time.
Long-Term Care Insurance
Insurance that covers services such as nursing home care, assisted living, and home health care.

M–R

Margin Account
A brokerage account that allows investors to borrow money to buy securities.
Medicaid
A joint federal and state program providing health coverage for low-income individuals, including long-term care services.
Medicare
A federal health insurance program for people age 65 and older or with certain disabilities.
Medigap
Supplemental insurance that helps cover out-of-pocket costs not covered by Medicare Parts A and B.
Minimum Payment
The smallest amount you must pay on a credit card balance each month.
Minimum Required Distribution (MRD/RMD)
The minimum amount retirees must withdraw each year from retirement accounts like IRAs or 401(k)s after reaching a certain age.
Mobile Banking
Accessing bank accounts through a smartphone app to check balances, transfer money, or pay bills.
Mortgage
A loan used to purchase a home, typically repaid over 15 to 30 years.
Net Income
Earnings after taxes and deductions; also known as "take-home pay."
Net Worth
Your total assets minus your total liabilities.
Online Banking
Using the internet to manage your bank accounts and perform financial transactions.
Overdraft
When you spend more than what’s in your account, often leading to fees unless you have overdraft protection.
Pay-As-You-Go (PAYG)
A tax withholding system where taxes are taken from each paycheck.
Paycheck
A regular payment for work done, typically issued biweekly or monthly.
Pension
A retirement plan funded and managed by an employer that provides a guaranteed monthly income.
Peer-to-Peer Payment Apps
Apps like Venmo or Cash App used to send money directly to others.
Power of Attorney (POA)
A legal document granting someone the power to manage your affairs, either financial or medical.
Pre-Tax Contributions
Money contributed to retirement or healthcare accounts before taxes are deducted.
Principal / Principal Balance
The amount of a loan or investment without interest.
Probate
The legal process of distributing a deceased person’s estate.
Refinance
Replacing an old loan with a new one, usually with better terms.
Required Minimum Distribution (RMD)
Government-mandated withdrawals from certain retirement accounts starting at a certain age.
Renter’s Insurance
A policy that covers personal belongings in a rental property and liability protection.
Reverse Mortgage
A loan for homeowners 62+ that allows them to convert home equity into cash, usually repaid when the home is sold or the borrower passes away.
Roth IRA
A retirement savings account that allows tax-free withdrawals in the future (available to those with earned income).

S–Z

Savings Account
A bank account that earns interest and is used to store money for future goals.
Scholarship
Financial aid for education that does not need to be repaid, usually based on merit or need.
Scam
A fraudulent scheme designed to steal money or personal information.
Secured Loan
A loan backed by collateral (e.g., mortgage or auto loan).
Self-Employed
Working for oneself rather than an employer; includes freelancers, contractors, and small business owners.
Simplified Employee Pension (SEP IRA)
A retirement account often used by self-employed individuals, also accessible in retirement.
Social Security
A government program providing monthly payments to retirees and eligible dependents.
Spousal Benefit (Social Security)
A benefit that allows one spouse to receive up to 50% of the other spouse’s Social Security benefit.
Standard Deduction
A fixed dollar amount that reduces taxable income, available to most taxpayers.
Step-Up in Basis
A tax rule that adjusts the value of an inherited asset to its market value at the time of inheritance, potentially reducing capital gains tax.
Stock
A share of ownership in a company.
Student Loan
Borrowed money to pay for education expenses that must be paid back with interest.
Subsidized Loan
A student loan where the government pays the interest while the borrower is in school.
Supplemental Security Income (SSI)
A needs-based government program that provides cash assistance to elderly or disabled people with low income.
Taxes
Mandatory payments to the government, often deducted from your paycheck or charged on purchases.
Tax Credit
A direct reduction in the amount of taxes owed.
Tax-Deferred
Income that is not taxed until it is withdrawn, often used in retirement accounts.
Term Life Insurance
Life insurance coverage for a specific period of time with fixed premiums.
Testamentary Trust
A trust created upon death through a will, used to manage and distribute assets.
Trust
A legal entity that holds assets on behalf of a beneficiary.
Trustee
A person or institution responsible for managing the assets in a trust for the benefit of the beneficiaries.
Unsecured Loan
A loan not backed by collateral, typically based on creditworthiness.
Variable Expenses
Costs that change from month to month, like groceries or gas.
Wants vs. Needs
The difference between essential expenses (needs) and non-essential items or experiences (wants).
Will
A legal document that outlines how your assets should be distributed after your death.
Withdrawal Rate
The percentage of your retirement savings you take out annually to cover expenses.
Withholding
Money taken out of your paycheck for taxes before you receive it.
Withholding Allowance
Used on the W-4 to determine how much federal income tax is withheld from pay.
W-2 Form
A tax form employers provide to employees showing earnings and tax withholdings.
W-4 Form
A form employees submit to indicate how much tax to withhold from their paychecks.

Why Knowing Money Terms Matters

Understanding these terms helps you make smarter choices with your money—whether you’re getting your first job, opening a bank account, or planning for your future. The more you know, the more confident you’ll feel handling real-world decisions about spending, saving, credit, and more. Learning now can help you avoid common mistakes and reach your goals sooner.

Want to Learn Even More?

Explore guides, educator tools, and support resources to boost your money smarts—wherever you are in your financial journey.

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© 1996-2025 Money Fit by DRS
6213 N. Cloverdale Rd, Suite 130, Boise, ID 83713
Money Fit is a nationwide nonprofit 501(c)(3) organization. We do not lend money.

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Client Credit Report Authorization

You hereby authorize and instruct Debt Reduction Services, Inc. (DRS, dba Money Fit by DRS) and/or its assigned agents to:
  • Obtain and review your credit report, and
  • Request verifications of your income and rental history, and any other information deemed necessary for improving your housing situation (for example, verifying your annual property tax obligations and homeowner’s insurance fees)
Your credit report will be obtained from a credit reporting agency chosen by DRS. You understand and agree that DRS intends to use the credit report evaluate your financial readiness to purchase or rent a home and/or to engage in post-purchase counseling activities and not to grant credit. You understand you may ask any questions pertaining to your credit report. However, while DRS will review the information with you, the company is not able to furnish you with a copy of your credit profile. You hereby authorize DRS to share your information from your credit report and any information that you provided (including any computations and assessments produced) with the entities listed below to help DRS determine your viable financial options.
  • Banks
  • Counseling Agencies
  • Debt Collectors
  • Landlords
  • Lenders
  • Mortgage Servicers
  • Property Management Companies
  • Public Housing Authorities
  • Social Service Agencies
Entities such as mortgage lenders and/or counseling agencies may contact your DRS counselor to evaluate the options for which you may be eligible. In connection with such evaluation, you authorize the credit reporting and/or financial agencies to release information and cooperate with your DRS counselor. No information will be discussed about you with entities not directly involved in your efforts to improve your housing situation. You hereby authorize the release of your information to program monitoring organizations of DRS, including but not limited to, Federal, State, and nonprofit partners for program review, monitoring, auditing, research, and/or oversight purposes. In addition, you authorize DRS to have your credit report pulled two additional times to conduct program evaluations. You also agree to keep DRS informed of any changes in address, telephone number, job status, marital status, or other conditions which may affect your eligibility for a program you have applied for or a counseling service that you are seeking. Finally, you understand that you may revoke consent to these disclosures by notifying DRS in writing.

Client Privacy, Data Security, and Client Rights Policy

NOTE: This sheet is to inform new or returning clients about our services, records, fees, and limitations that may affect you as a consumer of our services. This form also discloses how we might release your information to other agencies and/or regulators. If you do not understand a statement, please ask a Debt Reduction Services (DRS) counselor for assistance.

Debt Reduction Services, Inc. (DRS) has put into place policies and procedures to protect the security and confidentiality of your nonpublic personal information. This notice explains our online information practices and how we use and maintain your information to conduct our financial education and credit counseling sessions and to fulfill information and question requests. This privacy policy complies with federal laws and regulations.

To provide our financial education and credit counseling services, we collect nonpublic personal information about you as follows: 1) Information we receive from you, 2) Information about your transactions with us or others, and 3) Information we receive from your creditors or a consumer reporting agency. We do not share this information with outside parties.

We use non-identifying and aggregate information to better design our website and services, but we do not disclose anything that could be used to identify you as an individual.

You hereby authorize DRS, when necessary, to share your nonpublic personal, financial, credit, and any information that you provided (including any computations and assessments produced) with the following entities in order to help DRS provide you with appropriate counseling or guide you to appropriate services: third parties such as government agencies, your lender(s), your creditor(s), and nonprofit housing-related and other financial agencies as permitted by law, including the U.S. Department of Housing and Urban Development.

To prevent unauthorized access, maintain data accuracy, and ensure the correct use of information, we have put in place appropriate physical, electronic, and managerial procedures to safeguard and secure the information we collect online. We limit access to your nonpublic personal information to our employees, contractors and agents who need such access to provide products or services to you or for other legitimate business purposes.

Debt Reduction Services, Inc. complies with the privacy requirements set forth in the HUD housing counseling agency handbook 7610.1 (05/2010), including the sections 2-2 Mc, 3-1 H(2), 3-3, 5-3 F, and Attachment A.5. At all times, we will comply with all additional laws and regulations to which we are subject regarding the collection, use, and disclosure of individually identifiable information.

  1. Services: DRS provides the following housing-related services: counseling that includes Homeless Assistance, Rental Topics, Pre-purchase/Homebuying, and Home Maintenance and Financial Management for Homeowners (Non-Delinquency Post-Purchase); Education courses that include Financial literacy (including home affordability, budgeting, and understanding use of credit), Predatory lending, loan scam or other fraud prevention, Fair housing, Rental topics, Pre-purchase homebuyer education, Non-delinquency post-purchase workshop (including home maintenance and/or financial management for homeowners), and other workshops not listed above.

Please refer to DebtReductionServices.org for details of our services.

  1. Limits: Our services are limited to our normal weekday business hours. We do not provide individual counseling or education services after hours or on weekends, although our education courses are available 24/7.
  2. Fees: We do not charge fees for our financial management counseling and education. However, if you use them, you may have to pay for our Debt Management Program, Student Loan Counseling, Bankruptcy Certificate Services or certain financial education courses (homebuyer education, rental topics, fair housing, predatory lending, and post-purchase-non-delinquency including home maintenance and/or financial management for homeowners).
  3. Records: We maintain records of the services you receive, including notes about your progress or other relevant information to your work with us. You have the right to access and view your records by making a request to your counselor.
  4. Confidentiality: We respect your privacy and offer our services in confidence with the understanding that we may share such information with auditors and government regulators. Certain laws or situations may also lead to disclosing confidential issues, such as those involving potential child abuse or neglect, threats to harm self or others, or court subpoenas.
  5. Refusal of Services: You have the right to refuse services without any penalty or loss.
  6. Disclosure of Policies and Practices: You will be provided our agency disclosure statement.
  7. Sharing of Information: Sometimes we will need to contact other agencies or we may need to share your information, including your records, with other agencies or with regulators. We will do this only if you sign this form that gives us permission except for limited reasons; please see # 5 above for examples of such situations.
  8. Other: You have the right to be treated with respect by our staff, and we expect the same from you in return. We encourage you to always ask questions if something is not clear. We also encouraged you to express your thoughts and advocate throughout our services.

You acknowledge that this authorization will remain in effect for the duration of time that DRS serves as your housing counselor or financial education provider. You also acknowledge that should you wish to terminate this authorization, you will notify DRS in writing.

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Disclosure  Statement

NOTE: If you have an impairment, disability, language barrier, or otherwise require an alternative means of completing this form or accessing information about our counseling services, please communicate with your DRS representative about arranging alternative accommodations.

Program Disclosure Form

Disclosure to Client for HUD Housing Counseling Services

Debt Reduction Services, Inc. and its financial education arm, Money Fit by DRS, offer the following housing counseling and educational services related to housing, personal finance, and bankruptcy certificates to consumers:
  • Housing Education Courses: DRS offers many online self-guided education programs classified as Financial, Budgeting, and Credit Workshops (FBC), Fair Housing Pre-Purchase Education Workshops (FHW), Homelessness Prevention Workshops (HMW), Non-Delinquency Post Purchase Workshops (NDW), Predatory Lending Education Workshops (PLW), Pre-purchase Homebuyer Education Workshops (PPW), and Rental Housing Workshops (RHW). These courses help participants increase their knowledge of and skills in personal finance, including home affordability, budgeting, and understanding the use of credit, as well as predatory lending, loan scams, and other fraud prevention topics, fair housing, rental topics, pre-purchase homebuyer education, non-delinquency post-purchase topics including home maintenance and/or financial management for homeowners, homeless prevention workshop, and other workshops not listed above relating to personal finance and housing. Course details are found below under “Housing Workshops.”
  • Home Equity Conversation Mortgage (HECM) Counseling (RMC): Via telephone and virtual platforms, we offer the required HECM counseling nationwide in addition to in-person counseling in Boise, Idaho. We also offer in-home counseling options in thirty counties across southern Idaho for an additional fee to cover our travel and additional staff time costs.
  • Home Maintenance and Financial Management for Homeowners (Non-Delinquency Post-Purchase) (FBC): Clients receive counseling and materials on the proper maintenance of their home and mortgage refinancing. Clients can find help and resources by phone, in our Boise office, or virtually on all topics related to stabilizing their long-term homeownership.
  • Services for Homeless Counseling (HMC): Clients receive phone, virtual, or in-person (Boise) counseling to evaluate their current housing needs, identify barriers to and goals for housing stability, establish a path to self-sufficiency, and connect with emergency shelters, income-appropriate housing, and/or other community resources (e.g. mental healthcare, job training, transportation, etc.).
  • Pre-Purchase Counseling (PPC): Clients receive counseling through the entire homebuying process. Assistance may involve creating a sustainable household budget, understanding mortgage options, building their credit rating, and putting together a realistic action plan to set and achieve homeownership goals.  Additionally, clients will receive materials and resources about home inspections and other homeownership topics relevant to successfully maintaining a home.
  • Rental Housing Counseling (RHC): Via phone, in-person appointments (Boise, ID), or virtual platforms, clients receive housing counseling relevant to renting, including rent subsidies from HUD or other government and assistance programs. Topics can also address issues and concerns having to do with fair housing, landlord and tenant laws, lease terms, rent delinquency, household budgeting, and finding alternate housing.
DRS also offers the following services:
  • A Debt Management Program (DMP) for consumers struggling to pay their credit cards, collections, medical debts, personal loans, old utility bills, and past-due cell phone accounts;
  • The Budget Briefing and Debtor Education Certificates that are required during the Bankruptcy filing process;
  • A Student Loan Repayment Plan Counseling and application service.

Relationships with Industry Partners

Through such services, DRS has established financial relationships with hundreds of banks, credit unions, and creditors such as American Express, Bank of America, Barclays, Capital One, Chase, Citibank, Credit One, Discover, Synchrony, US Bank, USAA, Wells Fargo, and others.

No Client Obligation

The client is not obligated to receive, purchase or utilize any other services offered by DRS or its exclusive partners to receive financial education or housing counseling services. Alternatives: As a condition of our counseling services, in alignment with meeting our client services goals, and in compliance with HUD’s Housing Counseling Program requirements, we may provide information on alternative services, programs, and products available to you, if applicable and known by our staff. Alternative DMP services include negotiating better repayment terms directly with your individual creditors, paying your debts as agreed, or, in extreme cases, filing for personal bankruptcy. Alternative credit and education services can be found through MyMoney.gov or the Jump$tart Clearinghouse of online financial education resources. Housing counseling alternatives can be found through HUD at www.hud.gov/findacounselor.
Finally, you understand that you may revoke consent to these disclosures by notifying DRS in writing.
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Housing Counseling and Education Fee Schedule

 

Online Education Program Fees*

Homebuyer Education Course: $59 per participant

  • Self-paced course available here, our online housing counseling and education center. Certificates will be automatically generated upon completion of the course (approximately 6-8 hours)

Rental, Fair Housing, Predatory Lending / HOEPA, Post-Purchase (Non-delinquency post-purchase workshop, including home maintenance and/or financial management for homeowners) Online Workshops: $49 per participant

  • Approximately 1 hour each

Other Self-Guided Financial Literacy Webinars (e.g. credit, budgeting, homeless prevention, debt prevention): $0

One-on-one Counseling Fees*

Pre-purchase Homebuying Counseling, Rental Counseling, Post-purchase Ownership Maintenance and Financial Management: $75

  • Session by the hour

Reverse Mortgage/HECM Counseling with Required Certificate:

  • $200†

Credit Report Fee: Paid Directly by Client

*Fees for all but our online education courses and workshops can be paid online by debit card, credit card, or PayPal or in person by cash, check or money order to: “Debt Reduction Services, Inc.” Registration fees are non-refundable 24 hours or less before the start of an in-person course or workshop. Certificates are non-transferable

*Fees may be waived for households with income of 150% or less of that identified on the US Department of Health and Human Services Poverty Guidelines Page

†Home visit counseling is available in 30 southern Idaho counties for potential HECM borrowers at additional costs to cover our travel (IRS reimbursement rates apply) and staff time ($50 per hour or fraction there).

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Housing Counseling and Education Fee Schedule  

Online EDUCATION Program Fees* 

eHome Homebuyer Education Course: $99 per household** 

  • Self-paced course available here, our online housing counseling and education center. Certificates will be automatically generated upon completion of the course (approximately 6-8 hours) 

Online Workshops: $49 per participant 

  • Rental, Fair Housing, Predatory Lending Post-Purchase, HECM Family Member  
  • Approximately 1 hour each 

Other Self-Guided Financial Literacy Webinars: $0 

  • Credit, budgeting, homelessness prevention, debt prevention 
  • Approximately 30-60 minutes each 

One-on-one COUNSELING Fees* 

Pre-purchase Home Buying, Renter Issues, Homelessness, and Fair Housing: $0  

Post-purchase Ownership and Maintenance, HOEPA or Financial Management $75/hr  

Reverse Mortgage/HECM Counseling with Required Certificate $200 per household†  

Credit Report Fee Paid Directly by Client 

*Fees for all but our online education courses and workshops can be paid online by debit card, credit card, or PayPal or in person by cash, check or money order to: “Debt Reduction Services, Inc.” Registration fees are non-refundable 24 hours or less before the start of an in-person course or workshop. Certificates are non-transferable 

*Fees may be waived for households with income of 150% or less of that identified on the US Department of Health and Human Services Poverty Guidelines Page 

**Household is an individual or a couple  
†Home visit counseling is available in 30 southern Idaho counties for potential HECM borrowers at additional costs to cover our travel (IRS reimbursement rates apply) and staff time ($50 per hour or fraction there)