The Basics: Where to Start

Is Homebuying Right For You?

Freddie Mac is a publicly held corporation chartered by Congress to increase the supply of funds that mortgage lenders make available to homebuyers. You can learn more about Freddie Mac and Fannie Mae by clicking here. This Freddie Mac site offers a step-by-step tutorial on the home buying decision process and the mortgage application process. Click here to visit "Is Homebuying Right For you?

Home Loan Learning Center

Another great "overview" program is offered by the Mortgage Bankers Association. They call it their "Home Loan Learning Center".

Home Buying Guides

The FannieMae Foundation offers four Home buying Guides:

§ Knowing and Understanding Your Credit

§ Opening the Door to a Home of Your Own

§ Choosing the Mortgage that’s Right for You

§ Borrowing Basics: What You Don’t Know Can Hurt You

You can download PDFs or they will mail them directly to you. The really cool thing about these guides is they are offered in eight other languages besides English. They’re available in Spanish, Chinese, Korean, Vietnamese, Russian, Polish, Portuguese, and Haitian Creole. You find them by clicking here.

A WORD OF CAUTION: Although we agree with most of the information provided by these distinguished agencies, sometimes their "how much home can I afford" calculators are way too conservative and discourage potential homebuyers from learning more. Home prices are rising. Most experts believe this will continue. Make sure you have explored all the options available to you before you decide to "give up" on home ownership.