Qualifying for a mortgage is an important step in purchasing your home. It is necessary to have an established source of income, banking and credit history to demonstrate to a bank that you are capable of making your monthly mortgage payments.
People without savings or checking accounts may need help establishing banking and credit history and understanding the banking system. If so, you should consider these various resources that will help boost your financial literacy.
Several local non-profit housing organizations operate financial literacy training classes in both English and Spanish. Some of these include:
The Community Development Corporation of Long Island: (631) 471-1215
There are also several websites that contain financial literacy information. These include :