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More Education is Needed

Despite the efforts of housing counselors, real estate agents, lenders and the Consumer Financial Protection Bureau (CFPB), many Americans lack basic knowledge of home loans and the home-buying process. A recent survey by FreeandClear.com, a site that provides mortgage education, found that 20 percent of borrowers think it is impossible to buy a home with a down payment of less than 5 percent. Yet the FHA loan program requires just 3.5 percent, VA loans have no down payment requirement and conventional loans are available with 3 percent down payment options.  The primary source of...

January 20th, 2018 More Education is Needed

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