Down Payment Assistance Programs
Home Buyer Education

Home Buyer Education

Welcome to our new improved Home Buyer Education Section. Understanding the mortgage loan process is one of the most important, difficult and challenging issues facing the average first time home buyer today. This section is dedicated to helping you to be a smarter consumer.

When you have finished studying the material in this section, you will know as much or more about the mortgage process than your average mortgage broker, banker or originator regarding all the facts that matter most to you. Take as much time as you need to review each of the documents and web links in this section that apply. Take notes or print the relevant content for future reference. If you have a moment, please Click Here and take 60 seconds to tell Google® you want to find our site in their search results. Be sure to enter our URL address Thanks for you support and your help!

If at anytime you are confused about a term used on any page or in any document, just refer to the mortgage terms section of this site. You may also wish to evaluate HUD's Loan Limits by area when you've finished as this is a great way to get a handle on whether the FHA program will fit your purchase amount. Make your home buying experience enjoyable by being prepared and having a plan! Don't forget to check out all the down payment assistance resources on this site. (For your navigation convenience, each of these links will open in a new window) Finally, be sure to request Your Annual Free Credit Report

We Want and Need Your Feedback on What Topics You'd like to see addressed or added in the Future! This is precisely how this section has grown so large, through the contributions of visitors just like you.

Contribute a lesson to our home buyer education section.

Section 1

These Are The Primary Topics Covered In The Home Buyer Education Area

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Primary Home Buyer Topics

- Building A Road Map To Success
- You and Your Credit
- Repairing Your Credit 101
- Don't Cheat Yourself
- Don't Commit Loan Fraud
- Using Down Payment Assistance
- Building A Down Payment
- Overview of Mortgage Loan Products
- Should I Buy A Manufactured Home?
- Selecting a Program that Fits You
- Mortgage Insurance and Your Payment
- The Home Owner Association Nighmare
- Preparing for The Mortgage Application
- Your Closing Costs Matter
- The "No Closing Costs" Myth
- Selecting An Appraiser
- Selecting A Title Company
- Do I Need A Home Inspection
- Home Buyer Warranty
- The ADDED Cost of an Attorney
- Credit Life & Disability Insurance
- Broker / Lender / Banker U-Pick
- Your Worst Home Buying Decision
- Interest Rates and You
- The Real Way to Monitor Rates
- When Do I Lock My Interest Rate
- Choosing How to Buy
- What to Ask for in a Contract
- Home Owner Insurance
- Get A Mortgage Commitment
- Troubled Loan Warning Signs
- The Closing Process
- The Right Steps to Buying Your Home
- Using Alternative Purchase Options
- What Are Homestead Exemptions
- Protecting Your New Investment
- Easy Steps to Reduce That 30 Year Loan
- How Refinancing Can Steal Your Equity
- How To Prevent Losing Your New Home

Other Home Buyer Topics Of Interest

- Down Payment Solutions™ Home Page
- VantageScore - Credit Score Article
- Building A Credit File For Beginners
- Local Home-Buyer Education
- FHA Loan Limits
- Mortgage & Down Payment Calculators
- State Housing Authorities
- Fannie Mae Education information

Know Your Loan Document Needs
Conventional Loan Documentation
- FHA Loan Documentation
- VA Loan Documentation
- Stated Income Loan Documentation
- NINA Loan Documentation
- No Ratio Loan Documentation
- No Doc Loan Documentation
- Home Equity Line Documentation

Down Payment Information

- Home Buyer Grants
- Down Payment Charity Organizations

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Section 2
These Are The Sections Addressed Within Each Topic By Page Title. Feel Free To Pick & Choose Your Subject Matter.

The Right Steps To Buying Your Home.

You and Your Credit

Repairing Your Credit 101

Overview Of Mortgage Loan Products

Preparing For The Mortgage Application

Using Down Payment Assistance

Choosing How To Buy

Don't Commit Loan Fraud

Building A Down Payment

Alternative Purchase Options

Section 3

These Are PDF Educational Workbooks And Relevant Documents.

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Home Buyer Worksheets

This is the HUD booklet you are required by law to get from your lender when you complete your application.
You should read and understand all the information in this pamphlet.

HUD home buyer education. Great Information from a great source!

Before buying a property, do your OWN review of the home and financial means before ever signing your name to the contract. Contracting on a home without doing your own analysis is risking your money.

Since you are here we presume you are in the process of preparing to purchase a home. Like any "Game" it is important to know the Rules in order to Win!
As complicated as these may seem to you, here are the rules your loan is judged by. In the mortgage industry, they are called Underwriting Guidelines. We highly recommend you take a day to read the guidelines that apply to your desired loan type. Remember, these are only guides, not gospel.
Underwriting is automated and factors in a wide range of issues as they relate to Your specific personal application data.

HUD Approved Agencies direct from HUD (Important for FHA Borrowers) All documents are in PDF Format (These documents will eventually be transferred to our database.)

These are Program Guides for Specific Fannie Mae Programs. They will provide you with a basic understanding of each program, what it does and how it works.

Do you know what you can and can't be charged for in an FHA Transaction?

Are you considering taking out an adjustable rate mortgage? Check out the COFI and ARMS advantages Worksheet. Also, a great write up about credit along with a Universal Fannie Freddie approved Mortgage Loan Application.

If you're planning to do a lease purchase option or know someone who is, remember, for it to be treated as a refinance the deed must change to the proposed lessee. A Standard Lease agreement is provided here.

If you are participating in a For Sale By Owner transaction, below you will find the appropriate purchase contract. We highly recommend paying an independent Attorney or Licensed Real Estate Professional to complete the contract for both parties.

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