Tell me how I'm doing! 

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.

	See All Tips In The "Financing Your Home" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

Margaret Henkel
Phone: 941-924-3864
Fax: 941-922-0931
Michael Saunders and Company
Licensed Real Estate Broker
8660 S. Tamiami Trail
Sarasota, FL 34238
Office: 941-966-8000

Florida’s exceptional Gulf coast real estate properties include established gated communities, new home communities, golf communities, waterfront and beachfront homes, luxury estates, villas and condominiums.

Margaret Henkel sells real estate in the neighborhoods of greater Downtown Sarasota, Florida, Longboat Key, Siesta Key, St. Armands Circle, Lido Key, Casey Key, Palmer Ranch and Lakewood Ranch.

  

www.margarethenkel.com is brought to you by Margaret Henkel
NUMBER1EXPERT™ in real estate for Sarasota, Siesta Key and Longboat Key, Florida, Golf Communities, Beachfront Homes, Luxury Estates

Read Margaret Henkel's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge