Resources

Federal Reserve Board Consumer Information

The Federal Reserve Board maintains a web page with consumer information, including a section on home mortgages. The section covers topics such as finding the best mortgage and understanding ARMs.

Freddie Mac is a publicly held corporation chartered by Congress to increase the supply of funds that mortgage lenders, such as commercial banks, mortgage bankers, savings institutions and credit unions, can make available to homebuyers and multifamily investors. This Freddie Mac site offers a step-by-step tutorial on the home buying decision process and the mortgage application process.

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What happens after you complete the purchase process? This U.S. Postal Service site provides all kinds of tools and tips to help make the moving process easier.

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Specialty local loan services include unique loan products and mortgages for certain situations that are different from the average need. For instance, reverse mortgages are a certain kind of specialty loan service that can provide elderly individuals with the ability to have an extra form of income or to retain their homes if the original mortgage is not paid off. The point of the reverse mortgage is to take equity out of your home for you to use in a specific fashion, in exchange for signing over the ownership of your home, which you then are allowed to live in for the duration of your life. 

U. S. Department of Housing and Urban Development website provides extensive information about buying a home including affordability, borrower’s rights, tips and tricks for shopping for a loan, and details about different home buying programs including FHA loan programs and other special programs.