Read (and Understand) the 

Fine Print

Elevate Your Credit Score

The importance of good credit is a 

fact of life. Banks and credit card companies decide whether to lend you money and 

what interest rates you will pay based on 

your credit score. Be prepared to examine 

past choices and, if necessary, to change 

your money habits. Decisions you make 

today will impact your future options.

Annual Credit Report Check the accuracy of 

your credit report annually for free: http://www.

annualcreditreport.com. To obtain your credit score for 

a fee, contact the three major credit reporting agencies: 

Equifax (1-800-685-1111) TransUnion 

(1-800-916-8800) Experian (1-888-397-3742)

ABCs of Homebuying HUD’s series of Internet 

videos guides you through the credit and homebuying 

process. http://www.hud.gov/webcasts/archives/

homeforall.cfm

Resident Opportunities and SelfSuffi ciency (ROSS) Homeownership and credit 

counseling for families in public housing or receiving 

Housing Choice Voucher (Section 8) assistance. Contact 

your local public housing agency: http://www.hud.

gov/offi ces/pih/pha/contacts/index.cfm

Home Loan Learning Center Information 

on credit scores and reports, cost comparisons, and 

steps to take to qualify for a loan. http://www.

homeloanlearningcenter.com

Consumers have more ways than ever 

to buy a home. Know your rights. Homebuyers should understand their mortgage contract 

and be on the look-out for scam artists and 

predatory lenders. A HUD-approved housing 

counselor (1-800-569-4287) can help.

Borrowers’ Rights HUD off ers a complete list. 

http://www.hud.gov/borrowersrights

Predatory Lending HUD has suggested a variety of 

ways to protect yourself from predatory lending. 

http://www.hud.gov/loanfraud

For resources in your area: http://www.hud.gov/becareful

Fair Housing Housing discrimination based on your 

race, color, national origin, religion, sex, family status, or 

disability is illegal. If you have been trying to buy or rent a 

home or apartment and you believe your rights have been 

violated, you can fi le a fair housing complaint. 

Go to: http://www.hud.gov/complaints

HUD expressly does not endorse, sanction, or promote any product, program, service, or 

enterprise for any private for-profi t or non-profi t organization, listed herewithin.

U.S. Department of Housing 

and Urban Development
U . S . D E P A R T M E N T O F H O U S I N G A N D U R B A N D E V E L O P M E N T

Organize

Watch Spending and 

Savings

Negotiate

The Key Steps:

Owning a home is the 

American Dream.

It’s a great way to create wealth 

and pass it on to your family... 

to build a nest egg for college 

or retirement... and to protect 

against life’s setbacks.

It starts with being smart 

about money.

Th e U.S. Department of Housing 

and Urban Development (HUD) 

wants all Americans to manage 

their money and have the option 

of preparing for homeownership.

rganize Set a goal to save a certain 

amount of money each month—

then stick to it.

atch Spending and Savings 

Prioritize your family’s spending 

needs so that saving becomes 

second-nature.

egotiate Communicate early and 

often with companies or banks you 

owe money to so you can work out 

problems before they grow larger.

levate Your Credit Score Know 

your credit score and what it means 

to banks and credit card companies 

and your future.

ead (and Understand) the

Fine Print Consider all the options, educate yourself, and be 

informed before you sign on the 

dotted line.

Resources are available from the federal government and non-profit and 

business groups. Many are free and 

on the Internet. If you do not have 

Internet access, visit your local public 

library or HUD-sponsored Neighborhood Networks.

Set money goals, and develop a plan 

to reach them. Decide what’s important to 

spend, then save the rest for a rainy day—or 

a downpayment on a home.

Buying a Home Learn the nine key steps to 

buying a home. http://www.hud.gov/buying

HUD’s Housing Counselors Th ey help 

you manage money, learn about credit, and navigate 

the homebuying process. To fi nd a HUD-approved 

housing counselor in your area, call 1-800-569-4287 or 

visit our website at http://www.hud.gov/counseling

Neighborhood Networks Provide education 

and job training information. 1-888-312-2743

http://www.NeighborhoodNetworks.org 

Home Aff ordability An online “calculator” 

helps you learn what it takes to buy a home. Sponsored 

by the Government National Mortgage Association 

(“Ginnie Mae”). http://www.hud.gov/calculator

Federal Reserve Education Free tools and 

materials to better understand money and economics. 

http://www.federalreserveeducation.org

Putting a little money aside every 

month takes hard work and difficult 

choices. But the rewards are great. Learn 

about the power of compound interest. 

Teach your children that a few hundred 

dollars invested now can turn into 

thousands of dollars over time.

MyMoney.gov Th e basics of fi nancial education. 

1-888-MyMoney (696-6639) http://www.mymoney.gov

“Banking on Our Future” Teaches students 

aged 9-18 about money matters. http://www.

bankingonourfuture.org (password needed)

National Council on Economic Education Sponsors “Financial Fitness for Life” (for students) and 

“EconomicsExchange” (for adults). http://www.ncee.net

“360 ̊ of Financial Literacy” Money education 

and weekly savings tips. http://www.360fi nancialliteracy.org

Native Financial Education Coalition 

Promotes fi nancial education in Native American 

communities. http://www.nfec.info.

atch Spending and Savings

Prioritize your family’s spending

Many consumers, including homeowners, feel trapped by debt. But there may 

be other options. Contact the people you 

owe. They may be willing to work with you 

to develop new payment plans. It will show 

that you are serious and smart about money.

FHA HUD’s Federal Housing Administration insures 

the mortgage (or loan) your bank may off er you to buy 

a house. FHA off ers families a safe, fair, and aff ordable 

alternative to more expensive, complex, and risky loans. 

1-800-CALL-FHA (225-5342) http://www.fha.gov 

HOPE NOW Industry-led alliance to help 

homeowners in distress. 1-888-995-HOPE (4673) 

http://www.hopenow.com

NeighborWorks America Provides foreclosure 

workshops and counseling to mortgage borrowers, and 

fi nancial education to those considering buying a home. 

http://www.nw.org

National Foundation for Debt Management 

Its “Right Track” program is designed to help consumers 

regain control of their money. http://www.nfdm.org

U . S . D E P A R TME N T O F H O U S I N G A N D U R B A N D E V E L O PME N T