AUGUSTA, Maine — Maine’s Bureau of Consumer Credit Protection, an agency within the Department of Professional and Financial Regulation, announces the release of a new, comprehensive mortgage guide, titled “The Downeaster Common Sense Guide to Finding, Buying and Keeping Your Maine Home.” Free to Maine residents, this 32-page booklet provides information for those contemplating the purchase and financing of a home. Covered topics include:
- How to evaluate whether renting or buying makes the most sense, given income and future plans;
- How to use current income, debt load and credit reports to predict if a loan may be approved;
- How to select a mortgage lender or loan broker;
- How to choose the type of loan product that best fits your needs; and
- Understanding your obligations after the loan closes.
An online copy can be found at www.Credit.Maine.gov by clicking “Publications” or “Consumer Guides” (directly at www.maine.gov/pfr/consumercredit/documents/MortgageGuide_RevisedOnline.pdf). Printed copies are available free of charge by calling the Bureau at 1-800-332-8529 (toll-free in Maine).