HUD’s videos are easily accessible from HUD’s website as well as from HUD’s YouTube channel.Keeping up with the changing times and the push of social media the Department of Housing and Urban Development (HUD) has set up a YouTube Channel. HUD has unveiled three how-to videos to assist potential homebuyers find an affordable home, shop for the right mortgage and what to expect at closing.
Shopping for your Home – The homebuying process starts with finding the right home. The video instructs viewers on how much of a home you can afford, working with a Realtor and what happens once you find the home you want to buy.
Shopping for your Loan – The next step in the home buying process is to shop for a mortgage loan. The video helps borrowers understand the good faith estimate (GFE). The GFE is a form that spells out the terms of a potential loan, and should assist to shop for the best loan. The video shows borrowers how to use the GFE to determine how long an interest rate is available for a particular loan and how to find key loan terms and costs of a particular loan.
Closing the Deal – This his video takes consumers through the actual closing process including how to make sure the loan they were offered closely matches what they encounter at the closing table. The video walks the viewer through the HUD-1 Settlement Statement and shows ways consumers can compare their actual costs with those reflected on their Good Faith Estimate.
HUD’s goal is to help make the process more transparent through educating consumers who in turn can make informed choices about their home purchase. These videos go help in identifying key aspects of the homebuying process that a borrower should be aware of. Overall this is a great site for first time homebuyers and a good reference tool for real estate agents and loan officers.
HUD’s videos are easily accessible from HUD’s website as well as from HUD’s YouTube channel.