Online Videos Aim to Help First-Time Homebuyers

HUD and the National Association of Realtors have released a trio of how-to videos to explain the basics of the home-buying process. The “Shopping for your Home” installment focuses on personal finance, credit, housing counseling, choosing a real estate agent, and making an offer; while “Shopping for your Loan” touches upon the use of the good faith estimate (GFE) to compare loan terms. The third video, “Closing the Deal,” spells out the settlement process and the comparison of the GFE to the HUD-1 settlement statement. The videos can be viewed on HUD’s YouTube channel and Web site as well on NAR’s Web site. | Read More