Credit Education Program


GoFetch invites you to participate in
CreditSmart, a free credit education program offered by Freddie Mac. You may accept this invitation by clicking the link below to take the course, or you may decline to participate.

The free program is offered online, so you can take it anywhere. The program offers complete financial education modules that provide valuable information to help you:
  • Understand the importance of building credit to secure your financial future.
  • Gain insight into how lenders assess your eligibility for a mortgage loan.
  • Recognize the warning signs of predatory lending and scams.
  • Improve your credit.
  • Manage your money more effectively.

To get the most out of the program, we recommend you complete all modules in numerical order. Each module can generally be completed within 20-30 minutes.Included in each module is a link to a glossary of terms. These terms should help you learn more about credit, and better understand each credit education module. In addition, we have included three terms below that we believe are important terms to know in order to better understand credit.
  • Installment Loans (and how they work):
    Installment Loans (also referred to as Installment Accounts) are a type of credit whereby a borrower signs a contract to repay a fixed amount in equal payments over a specific period of time. Examples of installment loans may include car loans, furniture loans, and often times personal loans. GoFetch Pay is an example of an installment loan.
  • Cost of Credit:
    All the costs a borrower agrees to pay related to the credit a borrower is acquiring. The cost of credit depends on the loan or credit product. Common costs that may apply are fees (a borrower may be charged a loan origination fee, prepayment penalties and late payment fees) and interest (this is the rate of interest a borrower will be charged for borrowing, expressed as a percentage). When a borrower applies for credit and is approved, the borrower should receive a contract that outlines the fees and interest rate that will apply to the credit.
  • Loan Payment:
    A loan payment is the act of paying back money previously borrowed from a lender. Loan payment usually takes the form of periodic payments that normally include part principal plus interest in each payment. The other common method of loan payment is a lump sum with interest at maturity.
By clicking the link above to take the course and participating in this free credit education program, you acknowledge that you are being provided with the electronic materials included in the course, including the program guides linked below.



CREDITSMART ESSENTIALS PROGRAM OVERVIEW


Introduction to CreditSmart Essentials
If you are taking this training course for the first time click on the link above for an introduction to the program. Click here to download the program guides.

CreditSmart also offers additional education modules specific to home ownership. This newest curriculum module contains a wealth of information on understanding home equity, maintaining and improving your home, preparing for emergencies, and recognizing scams. It also includes a comprehensive section on alternatives to foreclosure.

If you have any questions or experience problems while taking this online course, please contact creditsmart_training@freddiemac.com.