RALEIGH, N.C. -- GE Capital Mortgage Corp. said its mortgage insurance company would make homebuyer education available over the telephone to people who plan a purchase and expect to use its 97% loan-to-value program.
The company said it has been committed to the program as an affordable-housing initiative and believes consumer education will play a key role in the program's success.
Lenders will provide a loan application, a home study guide, and an 800 number for GE's homebuyer education center. Program coordinators are available 12 hours a day to answer questions that may arise in the course of home study.
The availability of a complete education capability should facilitate participation by lenders of all sizes, the company said.