Homebuyers looking for step-by-step guidance for buying their first home have a new educational tool thanks to Fannie Mae. The nation’s leading source for residential mortgages launched a new free mobile app this week for iOS and Android devices. The HOME app features an affordability calculator to help buyers determine how much house they can afford to buy as well as a savings calculator that helps them develop a savings plan for a down payment. The app also features a tool that shows buyers how much they can save in interest by making extra mortgage payments.

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Image Source: Mark Warner