Fannie Mae Issues Mobile App to Help Potential Homebuyers

Fannie Mae has introduced a smartphone application designed to help potential homeowners learn how to save for their first purchase.

The "HOME" app includes a tool to help potential buyers learn how much they can afford in a home purchase. It also features information about mortgage payments, tips on how to save for a down payment and information on how making extra mortgage payments can help save on interest costs.

The app, which is available for Android and Apple devices, is designed to help Fannie Mae's partners provide educational resources to customers and reduce barriers to homeownership. Fannie Mae is encouraging lenders to share the app with potential customers.

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