To help you get more of a handle on the mortgage process, most lenders and title companies offer some type of free literature.
For example, Chicago Title & Trust Co. offers pamphlets on a host of subjects, including title insurance. It also offers a real estate closing manual that explains every step in the process.
”All you have to do is call (630-2273) and ask for the information to be sent to you,” says Jane Byers, assistant title officer for Chicago Title & Trust.
Real estate companies usually offer free, slick-looking folders on every phase of buying a home to their clients and just about anyone else who asks. These include pamphlets on shopping for and understanding mortgages.
Some lenders go a step farther. Mid America Federal Savings Bank in Naperville offers a free program, called ”Community Homebuyer,” geared to first-timers.
Sharon Bethune, Mid America`s senior vice president of residential homes, says the program covers everything from budgeting for a down payment to how home appraisals work. Participants also receive a mortgage worksheet that takes buyers step-by-step through the numbers. For more information, call 708-420-1001.
If, after reading the pamphlets and talking to lender you still would like to know more, check with your local bookstore for a current selection of titles on obtaining a mortgage.
