Buying a home is an important financial decision that should be considered carefully. The Consumer Financial Protection Bureau (CFPB) is a federal agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. The CFPB has created a Mortgage Toolkit to help you become familiar with the various stages of the home-buying process, including deciding whether you are ready to buy a home, and providing factors to consider in determining how much you can afford to spend.
This toolkit will help you become familiar with how interest rates, points, balloon payments, and prepayment penalties can affect your monthly mortgage payments. You’ll also learn the most important steps for getting the best mortgage, understand your closing costs and what it takes to buy a home, and receive the tools it takes to be a successful homeowner.
Home Loan Toolkit