Hoping to reach more qualified mortgage loan borrowers, Fannie Mae has launched a new mobile app to help potential buyers navigate the homebuying process, step by step.
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HOME joins many other apps available to those interested in investigating their prospects for getting a mortgage and what kind of home they can buy.
The mobile app features several guided financial calculators, including:
- An affordability calculator to estimate the best home a potential buyer can afford.
- A purchase calculator to estimate a monthly mortgage payment based on a home’s price.
- A savings calculator to help potential buyers plan and save for down payments.
- An extra payment calculator to help homeowners reduce loan payment times.
The HOME app also features resources such as articles, videos, FAQs and a dictionary, and it will connect users with Department of Housing and Urban Development-approved housing counseling agencies.
A dashboard displays several steps that need to be completed in the homebuying process and allows users to track their progress.
The free HOME app is available for both Android and iOS devices.
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