MBA Launches New Consumer Homebuying Tools

The Mortgage Bankers Association (MBA) has launched new consumer tools on MBA.org designed to assist consumers during the homebuying process. These tools will help consumers navigate the financing of a home so every potential borrower feels prepared from beginning to end.

“The homebuying process continues to change, and MBA remains committed to helping consumers understand the various elements that go into purchasing a home,” said David Stevens, president and CEO. “MBA realizes how overwhelming it can be, so we have created five fact sheets to help consumers navigate the homebuying process.”

The homebuying tools section is made up of five elements, each with its own document: 

►Prepare for the Process: Educating and readying consumers for the challenges in the home buying and financing process
►Evaluate Your Credit: Providing information and insights on consumer credit ratings.
►Shop for a Mortgage: Understanding the costs in a mortgage, including information on the new "Know Before You Owe" mortgage rules and forms that went into effect on October 3, 2015. 
►Get the Facts on Closing: Helping consumers understand the closing process, and the types of paperwork and documents they may see at the closing table. 
►Plan for the Unexpected: Helping consumers budget for their new home, and prepare for surprises and unknowns.