WASHINGTON – July 7, 2009 – Although the mortgage lending crisis put a serious squeeze in the housing market, the situation has also produced attractive low borrowing rates for prospective homebuyers who can qualify for a mortgage. Moreover, the federal government has offered an $8,000 tax credit for first-time homebuyers through Dec. 31, 2009.
What should a person know about securing a home mortgage, and the different types of mortgages available? A spin on the information highway will turn up a bevy of answers. Several Web sites provide tips and information about qualifying for a mortgage. Here is a sampling of sites:
• Bankrate.com: www.bankrate.com/brm/green/mtg/mort1a.asp
Good primer on different types of mortgage borrowing.
• Federal Deposit Insurance Corp.: www.fdic.gov/consumers/looking/
Features guidelines and tips for securing a mortgage.
• Home Loan Learning Center: www.homeloanlearningcenter.com/MortgageBasics.htm
Discusses a range of borrowing topics, including qualifying for a mortgage and mortgage types.
• Home Mortgage Calculator: www.home-mortgage-calculator.net/how-much-should-i-borrow.asp
Provides insights on how much to borrow for a mortgage.
• MortgageInfoCenter: www.mortgageinfocenter.com/tips/default.asp
Offers dozens of mortgage borrowing tips over five pages.
© 2009 McClatchy-Tribune News Service
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