5 Tips for Shopping for a Mortgage

Fed Releases Tips for Potential Homeowners
The Federal Reserve released a new publication to help consumers make smart decisions when choosing a home loan. 5 Tips for Shopping for a Mortgage http://www.federalreserve.gov/pubs/mortgagetips/ urges consumers to conduct a financial self-assessment and directs them to a worksheet for developing a monthly spending plan. It also recommends taking the time to shop around and explains the difference between brokers and lenders.

Community bankers can use the one-pager in their communities to help improve financial literacy. Additional resources are available on ICBA's consumer education Webpage and Community Banks: Common-Sense Lenders public relations campaign.