Before you fall in love with your dream home, make sure you see your mortgage lender first and find out how much home you can afford. This is what they call a “prequalification process” – they are very willing to assist you! Prioritize your spending – your “wants” versus your “needs.” Familiarize yourself with common mortgage terms and Frequently Asked Questions (“FAQs”). The more you feel comfortable with the concepts and information, and understand how to balance your family’s budget, review the basics on loan documents, and take control of your financial future, the better you can prepare yourself for a successful future. But it all begins with doing your homework and researching California’s mortgage and real estate finance community.

Freddie Mac Foreclosure Prevention Info

PolicyTalk Q&A with Ingrid Beckles on homeownership preservation
Ingrid Beckles, Freddie Mac's Vice President of Servicing and Asset Management, explains why early intervention gives delinquent borrowers the best shot at keeping their homes and how foreclosure prevention efforts in the prime market are being leveraged in the subprime market.

Policy Landscape: Subprime Delinquency Rates 10 Times as High as Prime

Current Issues: Unique Challenges for Servicers of Private-Label Securitized Mortgages

Et Cetera: Why Borrowers Don't Contact Their Servicers (repackaged from 2005 Roper survey)

Which Mortgage Is Right For Me? CMBA offers helpful information on the differences in today’s basic mortgage products, including Adjustable Rate Mortgages (ARMs).”

Brief overview of common loan options Not long ago, there was only one kind of mortgage: 30-year fixed rate (the borrower has 30 years to pay back the mortgage, and the interest rate is fixed when the mortgage is closed, and the monthly payments remain the same over the life of the loan). While it is still the most common home loan, there are now several other kinds of mortgages that may better fit your situation. Again, your lender is the best person to help you explore your options, but here is a brief overview of common choices.

Lender Directory In order to achieve the American Dream of Homeownership, it is vital that before you fall in love with that “perfect” home, you work with your lender to find out how much home you can afford. Your CMBA lender will provide you with the best available options for financing your new home, as well as being a committed partner in you and your family’s future homeownership success. CMBA is proud to encourage California homebuyers to see their lender first – then start the exciting process of shopping for your new home. CMBA has provided a directory of member companies that will help you find the right lender and the right loan for your individual needs.

Homestore.com Homestore® offers visitors a convenient, one-stop source for Everything Home on the Internet® including the most comprehensive online database of property listings and real estate service providers, virtual tours, photos, resources, advice, decision support tools, and much more. Check out Neighborhood Finder for more information - with a few clicks, this tool does the detective work for you and generates a list of great places to live. Click on the suggested neighborhoods and you'll find detailed demographic information.

Mortgage Calculator Many useful mortgage calculators to help determine everything from monthly loan payments to prepayment analysis.

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Mortgage Glossary Quicken Loans' mortgage glossary explains common home financing terms and helps you understand complex mortgage concepts. Quicken Loans is the nation's largest online mortgage lender. Please visit QuickenLoans.com for helpful home buying and financing information, mortgage calculators, and breaking mortgage news.