Home Loan Tips from HUD

Thu - 7/29/2010

Credit Scores

Consumer Tips from HUD

Do ask lenders what fees they charge, as well as the interest rate and points, when shopping for a loan.
Do ask the builder whether you are required to use a certain provider in order to get a special concession.
Do compare the costs of different settlement service providers before agreeing to use one to whom you were referred.
Do ask to see the HUD-1 Settlement Statement a day before settlement, and compare the charges with those listed on the Good Faith Estimate.
Do question the lender and settlement agent about any charges you do not understand.
Keep making your mortgage payment on time, even if you have sent a complaint to your lender.
Do forward any tax or insurance bills you receive, immediately to your lender. (If the lender is supposed to pay the bill).
Do check your annual escrow account statement for mistakes.
Do make a "qualified written request" when asking your lender for information or making a complaint.
Do read the FAQs about Escrow Accounts carefully before filing an escrow complaint with a banking or government regulator.

Go Back

[ FHA Home Loans | Home Buyers | Contact | Home ]

THIS WEB SITE IS FOR INFORMATIONAL PURPOSES ONLY.
LINKS TO FHA LENDERS IS NOT NECESSARILY AN ENDORSEMENT OF THEIR SERVICES.
TO OBTAIN AN FHA MORTGAGE (OR ANY MORTGAGE) CONTACT A LICENSED LENDER IN YOUR AREA.
>>>NOVATION DOES NOT PROVIDE MORTGAGE LOANS ONLY INFORMATION<<<

Disclaimer/Terms of Use

Nothing in this website should be considered investment advice. Users of this website should consult with their own attorney, broker, or other financial advisor prior to making any investment. this website and its owners, partners, principals, employees, associates, contractors nor assignees, shall have no liability for investment decisions made by any user of this website based upon the information contained on this website.