Purchasing a home and becoming a homeowner will be one of the most important financial decisions you will ever make. Before you purchase a home, it is important to understand the benefits and responsibilities of homeownership, as well as the process of buying and financing a home, to enhance your ability to become a successful homeowner.

To give you the smart edge in buying and financing a home, GMAC Financial Services, including its real estate finance units, GMAC Mortgage, GMAC Real Estate, ditech, Homecomings Financial and Home Connects, have combined their resources to develop SmartEdge, a financial literacy program. It is our hope that by reading and studying the information provided in this section that you will have more confidence and knowledge when you determine it's the right time to become a homeowner. This guide is not intended to provide you with personalized investment or financial planning advice. Nor is this guide intended to provide you with all of the legal and financial considerations associated with financing the purchase of a home and is not intended to replace any disclosures that you may receive at the time you obtain a mortgage loan or purchase a house. Rather, this guide is intended to familiarize you with certain aspects of the homebuying process, related to both the actual purchase of a home as well as the process of obtaining a loan to pay for the home.

To get started, we'll first explore the concept of homeownership. In other sections of this guide, you can learn more about the role that credit plays in the financing of a home; budgeting; the home buying process; and how to finance a home. In addition, we also have compiled a glossary to help you understand some of the terms that are used in the world of real estate and home financing.