MortgageFit launches Booklet on the Home Buying Process

PRLog (Press Release) - Dec 21, 2006 -
Individuals planning to buy a home can get a simpler understanding of the entire process through a booklet launched by MortgageFit Community seeking to empower the common people with the right knowledge and experience.

With the booklet, the Community hopes to help home buyers especially the first time buyers by showing them the right approach to the home buying process. Says Caron Smith, a Community member, “We did a survey among the common people and took into account things that bother them when they decide to buy a home. In the end, it was a joint effort from all of us here at MortgageFit.”

The Community has been working on to provide quick mortgage advice and guidance through its forums and while doing so they felt - what most consumers require is how home buying or mortgage shopping actually works, that is exploring the entire process in a nutshell. Says Brian, the Marketing Manager at MortgageFit, “We decided to come up with a book that could give the know-how and insider tips on how to finance a home. We even surveyed some of our Community lenders and learnt more on how the market works.”

The Community felt that the booklet should provide add-on features apart from information on home buying. Some of the features of this book include:

Self-analysis:
There’s a list of questions which will make people think about their needs and wants. This will further help them to analyze their financial situation and then decide whether to buy or rent.

Mortgage Shopping Worksheet:
Buyers will get a printable worksheet with questions they should ask the lender in order to get an idea about lender’s profile and the loans (with rates, fees, etc) he can offer. They can fill up the sheet with such information and maintain it for future use.

Lender/Loan Comparison:
The booklet tells how a buyer can compare lenders on the basis of certain factors. To make it easier, there is a worksheet where one can fill up the details and then compare lenders. Besides, there is a worksheet where one can compare the loan programs which lenders can offer.

Decision-making Tools:
The booklet provides financial tools so that one can calculate and get suitable estimate before taking the right decision.

The Community has developed the book (http://www.mortgagefit.com/bookshelf/buyers-handbook.html) keeping in mind the requirements of the consumers, so that after reading it they can think independently and then take the right decisions. The booklet is flexible to use. Consumers can go through it both online and offline. The worksheets can be used offline by taking print outs. Moreover, one can download the decision making tool in his PC and use it offline as and when required. In a few words, the booklet acts as a guide for consumers at every step of the home buying process.