Question:

What is included in the Consumer's Guide to Mortgage Settlement Costs?

Answer:

The Consumer's Guide to Mortgage Settlement Costs is a Consumer Information brochure published by the Federal Reserve Board.

Another great home buying information source is the HUD's Buying Your Home: Settlement Costs and Information booklet.

The Consumer's Guide to Mortgage Settlement Costs brochure includes important information on home purchase settlement fees, lender and broker fees, fees for transferring ownership, taxes to pay to state and local governments, etc.

Other important consumer information and protection brochures published by the Federal Reserve Board beside the Consumers Guide to Mortgage Settlement Costs are:

  • 5 Tips for Protecting Your Checking Account;
  • 5 Tips for Improving Your Credit Score;
  • Choosing a Credit Card;
  • Consumer Guide to Check 21 and Substitute Checks;
  • A Consumer's Guide to Mortgage Lock-Ins;
  • Consumer Handbook on Adjustable Rate Mortgages;
  • Consumer Handbook to Credit Protection Laws;
  • A Guide to Business Credit for Women, Minorities, and Small Businesses;
  • Home Mortgages: Understanding the Process and Your Right to Fair Lending;
  • How to File a Consumer Complaint about a Bank;
  • Interest-Only Mortgage Payments and Payment-Option ARMs--Are They for You?
  • Keys to Vehicle Leasing: A Consumer Guide;
  • Looking for the Best Mortgage: Shop, Compare, Negotiate;
  • Privacy Choices for Your Personal Financial Information;
  • Protecting Yourself from Overdraft and Bounced-Check Fees;
  • Putting Your Home Loan on the Line Is Risky Business;
  • There's a Lot to Learn about Money;
  • What You Should Know about Home Equity Lines of Credit, etc.

Consumers are strongly advised to inform themselves about personal finance management, taking out different types of consumer loans, maintaining high credit score.

Recommended helpful present and future homeowners links:
Why: Refinance to a fixed rate loan while mortgage rates are still low.
Link:
Why: Because FHA loans are insured by the US Federal Government they have very competitive interest rates and are easier to qualify.
Link:
Why: Know and protect your credit report and score.
Link: See All 3 National Credit Scores & 3 Reports Instantly, Online & Free
Why: Find your next home and save money.
Link: Search thousands of foreclosures. Free 7-day trial.
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Common misspellings: mortage and morgage