I’m on a small committee of Realtors that works to increase access to homeownership within our community. Last year, we worked with the City of Oakland to help them streamline the City’s Mortgage Assistance Program (MAP), which offers down payment assistance of up to $75,000 to qualifying homebuyers.
The Consumer Financial Protection Bureau just released this online worksheet and booklet and it's my new favorite thing. Everyone who is thinking of buying a home with a loan should read this and consider filling out the worksheet.
Lending can be confusing but understanding it is a critical piece of making sure that you know what you are taking on financially when you purchase a home.