Google announced that it is cooperating with the Consumer Financial Protection Bureau in America to create a new search feature for smartphones.
Users will be able to get an overview of the home buying process and a list of useful options about rates, refinancing, the purchasing process, and more, when they type the word “mortgage” on your smartphone.
Google and the Financial Protection Bureau have prepared a detailed guide on how to prepare for shopping, and in the first step, there are short articles containing topics such as “Check your balance,” “Assess your spending,” and others, as well as ways to explore loan options, through which you will know information about costs, types of loans available, and others.
The feature will also offer linked news articles providing loan definitions and terms, along with a calculator to help figure out payment plans based on average mortgage rates.
There will also be information about relief and refinancing options if you are affected by the recent coronavirus economic slowdown.
Despite the importance of the feature and information, it appears to be limited so far to the United States.
