Federal Home Loan Bank or FHLB
Last modified March 14, 2022Commonly known in banking sectors as FHLB, its is an organization of federally chartered savings institutions and banks that provide a credit reserve for its member institutions. There are 12 Federal Home Loan Bank districts or regions that provide credit reserve to each of its member institutions. There are down payment assistance programs sponsored by FHLB that serve the low to lower moderate income borrower.
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Top 10 terms for First-Time Home Buyers:
- Homeowner's or Hazard Insurance policy
- Real Estate and Mortgage Disclosures
- Consumer Mortgage Disclosures are a Federal Regulation.
- Due on Sale Clause
- APR (Annual Percentage Rate)
- Federal tax lien
- PMI (Private Mortgage Insurance)
- General liens on property
- Gift letters in mortgages
- Good Faith Estimate or Loan Estimate