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FREE MORTGAGE PRIMER
Are you confused about the array of affordable mortgage products that sound too good to be true? A new pamphlet has been jointly released by five bank, thrift and credit union regulators. The 17-page document, available here and downloadable in PDF format, discusses non-traditional mortgage products, such as interest-only and adjustable-rate loans. Its list of terms and worksheet should help you determine which type of loan best suits your needs. The regulators also say that you should be able to turn to lenders if you have questions about the risks of the various lending options.
To download the brochure, go to: http://www.federalreserve.gov/pubs/mortgage_interestonly/default.htm
