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Financing Your Home >Home Buyers Education
As the number of mortgage lenders increases, competition forces lenders to get more creative in finding ways to lend people money. This often takes the form of giving homebuyers a "break" in the down payment. The downside of this approach is that statistically, the smaller the down payment, the more likely the borrower will default. Lenders have put together an education program to prevent delinquencies, which fills a much-needed gap in the increasingly complex world of home finance.
Home buyer education classes focus on a variety of money management topics, including all the costs connected with obtaining and owning a home. One lender got together with FANNIE MAE (a government-sponsored loan guarantor) to launch a 3 percent down payment loan which requires participation in this education course. Other lenders have shown a decline in the default rate with five percent loans that are associated with similar education courses.
Melissa Oliver and The O Team PMZ Real Estate 424 South Washington Street Sonora, CA 95370 Office Telephone: 209-694-8781 Melissa's Cell: 209-559-0682 Team Line: 209--352-3540 Team Line: 209-352-3240 Fax: 866-257-5645 Email: melissao@melissao.com
Melissa Oliver and The O Team bring you several years of qualified experience in the Sierra Foothills of Tuolumne County. Melissa Oliver, Broker Associate, is a Certified Residential Specialist®, one of the highest designated certifications offered by the National Association of Realtors. She also holds a GRI (Graduate Realtor Institute) and the RRS (Resort and Recreation Designation) to better help her client's in all areas of their transactions. She specializes in the Tuolumne County area and also services the Calaveras County area. Melissa has expertise in residential, land, ranches, vacation, second home and 1031 exchange properties.
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Tuolumne County, Sonora and Twain Harte, California
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