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Freddie Mac Home Buyer's Guide
Is Homeownership Right for You?
Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. By doing so, they help lower housing costs and provide better access to home financing
Buying a home is the largest purchase most people will ever make. Homeownership has great benefits. Homeownership also comes with certain responsibilities.
Are you ready for homeownership? Look at your current situation and determine if:
You have a continuing and reliable source of income prior to applying for the loan.
You have a credit history that shows you're ready for homeownership.
You have money saved for a down payment and closing costs.
Your total debt is manageable and you can afford to take on the costs associated with homeownership.
Once you fully understand your current situation, it's important to look at the pros and cons of homeownership to make the best decision for you and your family.
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