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Mortgage Information for Consumers |
Avoiding Home Equity Scams
 You could lose your home and your money if you borrow from unscrupulous lenders who offer you a high-cost loan based on the equity you have in your home. Certain lenders target homeowners who are elderly or who have low incomes or credit problems — and then try to take advantage of them by using deceptive practices. |
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Consumer Guide to Mortgage
Lock-Ins
Lock-ins on rates and points might offer you a way to ensure that what you shop for is what you get. This brochure explains what these arrangements mean. |
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Consumer Guide to Mortgage
Settlement Costs
Mortgage settlement costs can be confusing. A settlement may involve several people and many documents and fees. This information will help you understand all that is involved. |
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Guide to Residential Home
Buying A guide that will take your client through financing options and help them determine how much they can afford and what to expect at closing. Provided by 3/5 bank. |
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Guide to Residential
Construction Lending
There is a lot to keep in mind: financing, insurance, contractor references, inspections and more. This guide will provide many of the answers your client may need. Provided by 3/5 bank. |
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Looking for the Best
Mortgage
Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage--whether it’s a home purchase, a refinancing, or a home equity loan--is a product, just like a car, so the price and terms may be negotiable. |
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Secret methods that drive up
the cost of your home purchase or refinance
There are an enormous amount of fees associated with doing a loan. Most of them are fees that the loan officer and mortgage company cannot control, and are a part of every loan. In the case of the rest of the loan fees, the loan officer is in complete control of how much they will make off of a loan. Unfortunately, the typical consumer is unaware of these costs because they are hidden (legally so) in the loan paperwork and closing documents. |
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Stopmortgagefraud.com This website has several features that will help a client to avoid becoming a victim of mortgage fraud or abusive lending. |
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Understanding the Home
Mortgage Process
Pamphlet put out by the Federal Reserve that gives a good explanation of the mortgage process. |
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What You Should Know About a
Home Equity Line of Credit
If you are in the market for credit, a home equity plan may be right for you. Or perhaps another form of credit would be better. Before making a decision, you should weigh carefully the costs of a home equity line against the benefits. Shop for the credit terms that best meet your borrowing needs without posing undue financial risk. |
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