WASHINGTON
At a time when interest rates are at a historic low, employees at Howard University can obtain valuable information about buying or refinancing a home from a universe-sponsored Web site. Howard's Home Buyer's Assistance site, featuring information from leading national lenders Cendant Mortgage and HomeSide Lending and powered by Fannie Mae, helps users understand the home-buying process and whether they should refinance an existing home loan.
For example, the site advises users that refinancing may make sense if they want to:
* Get a lower interest rate to reduce their monthly payment.
* Borrow additional funds for home improvements, education costs, or debt consolidation.
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* Switch from the variability of an adjustable-rate loan to the certainty of a fixed-rate loan.
* Build equity faster with a shorter-term loan.
The Web site includes information on special opportunities for which Howard employees may qualify when obtaining a loan through designated lenders. The Home Buyer's Assistance site can be viewed at <http://howardu.homebuyerassist. net>.
COPYRIGHT 2002 Cox, Matthews & Associates
COPYRIGHT 2002 Gale Group
