Washington State Department of Financial Institutions

Guide to Home Loans Website

Whether you're buying your first home, considering a second mortgage, or refinancing, the loan process can be confusing and complicated - even overwhelming. As you embark on one of the biggest financial decisions you'll make in your lifetime, it's important that you understand what to expect before you sign your name to the dotted line.

In a recent survey commissioned by DFI, fifty-percent of predatory lending victims admitted that they entered into transactions in a moment of desperation or as a response to an emergency. Too often, consumers need money quickly and sign loan agreements without understanding how much they are paying in interest or fees.

Educating yourself can help you avoid common pitfalls and reduce the likelihood of falling victim to predatory lending practices.


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DFI