Help your buyers learn more about mortgage lending options. Download these free mortgage resources, and take your pick from these reputable banking and Realtor® industry organizations:
Free mortgage information resources
An overview of the lending process:
Homebuyers can learn about their options by reading these financial literacy guides from Bankrate.com here.Specialty Mortgages:
What Are the Risks and Advantages? NAR and the Center for Responsible Lending produced this brochure that helps prospective buyers assess the risks and advantages of interest-only, negative amortization, payment option ARM, and 40-year mortgages. Available in English and Spanish here.Traditional Mortgages:
Understanding Your Options: Specialty mortgages may help make homeownership more affordable, but they generate more risk. Buyers should understand these risks before they choose a mortgage. This NAR and the Center for Responsible Lending brochure explains that for most consumers, traditional fixed-rate mortgages and adjustable-rate mortgages continue to be excellent options. Download the brochure here.How to Avoid Predatory Lending:
Homebuyers need to be aware that some lenders offer predatory loans that take advantage of consumers. This brochure, produced jointly by NAR and the Center for Responsible Lending, identifies the warning signs of predatory loans and how to avoid them. Learn more here.Help clients learn about the benefits of FHA Mortgages:
Many aspects of the improved FHA application process have been streamlined to make it more user-friendly and efficient. This brochure outlines the changes and how to qualify for an FHA mortgage, plus other resources available from FHA, HUD, and NAR. Learn more here.SOURCES: Realtor.org, Bankrate.com