Mortgage Information
When you are shopping for a mortgage, it is very important to understand as much about mortgages as you can before you ask lenders for rates. Reviewing your credit report six months before buying a home is your first step. Check for errors, get your credit score and seek help to access how you can improve your score. Remember, each year residents can get three free copies of their credit reports, one from each of the three credit agencies. Information is available at www.annualcreditreport.com. Residents should also take advantage of homeownership workshops sponsored by certified housing counselors in your area. Look at the web site www.delawaremoneyschool.com for upcoming events in your area.
Read our brochure The A to Zs of Mortgage Loans and learn about issues in mortgage lending.
Check out the following web sites created by the U.S. Department of Housing and Urban Development and the Federal Trade Commission. These web sites have critical information which can assist your understanding of mortgages. www.hud.gov is the man site for HUD.
The following site provides an understanding of mortgages: www.hud.gov/buying/index.cfm.
The following web site provides definitions you should understand before signing a mortgage document. www.hud.gov/offices/hsg/sfh/buying/glossary.cfm
The Federal Trade Commission's web site offers the following information:
www.ftc.gov/bcp/conline/pubs/homes/bestmorg.htm
www.ftc.gov/bcp/conline/edcams/credit/coninfo_mortgage.htm
