Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
If you are in need of mortgage counseling, there are sources available that will be able to provide you with guidance on your situation. By being proactive and speaking with a counselor, you may be able to avoid problems that can affect your ability to maintain your credit rating.
1. HUD and FHA
HUD, or the U.S. Department of Housing and Urban Development, and the FHA, or Federal Housing Administration, which is part of HUD, are government agencies that assist borrowers with their loan requests. They also provide insurance on mortgage loans, which lessens the risk to the lenders. In some cases, this is what makes the difference in your getting approved for a loan.
By meeting with one of their counselors, you can discuss your credit issues and income as it relates to your debt and develop a plan to keep your debt payments current.
To find out if you are eligible, visit the HUD website for more information.
2. Private Counseling Services
While you may have to pay a fee at some private counseling services, the money they can save you by providing sound advice will more than pay for their fees. Find out the fees before you agree to a hire a private service to make sure it is affordable.
- Alternatives to Getting a 2nd Mortgage
- 3 Common Short Sale Mistakes
- Appraisal Basics
- What To Do When Mortgages Default
- Short Selling a Rental Property
- FHA Eligibility with Bankruptcy and Foreclosure
- Home Equity Loans for People with Bad Credit
- 3 Factors that Can Negatively Affect Your Mortgage Application
- How to Get Approved for an FHA Loan despite Bad Credit