A screenshot from the agency’s new interest rate checker.
A new website from the Consumer Financial Protection Bureau debuted Tuesday to help homebuyers navigate the complexities of securing a mortgage. The site is part of the agency’s Know Before You Owe campaign and includes interactive tools aimed at creating more informed and empowered homebuyers.
One of the most useful features on the CFPB site is a tool that includes state-specific information on interest rates. The tool can be adjusted according to a buyer’s credit score, home price and down payment, along with the specifics on the type of mortgage. The CFPB says it will add more features over time.
The site also includes beginner information on loan types, how to navigate closing on a home and what kind of mistakes to avoid when shopping for a house.
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This article originally published at http://dc.urbanturf.com/articles/blog/new_cfpb_site_provides_education_for_new_homebuyers/9398
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