If you’re planning to buy a house, then congratulations and good luck — it can be a daunting process. To make it a bit easier, Google has teamed with the Consumer Financial Protection Bureau (CFPB) to create a new mobile Search feature. When you type in “mortgage” on your smartphone, you’ll get an overview of the house-buying process and menu of helpful options about rates, refinancing, the buying process and more.
In the “process” section, Google and the CFPB have prepared a step-by-step guide from “prepare to shop” to “get ready to close.” Within the first step are short articles with topics like “check your credit,” “assess your spending” and so on. Under the section “explore loan choices,” you’ll see information about costs, the types of loans available and much more.
At the same time, the feature will serve up related news articles, industry definitions and terms, along with a calculator to help you figure out payment plans based on average mortgage rates. You’ll also find information on relief and refinancing options if you’ve been affected by the recent COVID-19 related economic downturn. It’s all useful and timely information, but so far it appears to be limited to the US.