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How to Save Thousands of Dollars on your Home Mortgage
Synopses & Reviews
Find The Home Mortgage Thats Right For You
Finding the right mortgage can be complex, confusing, and frustrating. But that doesnt mean you have to settle for anything other than the terms you want. This indispensable and newly updated second edition of How to Save Thousands of Dollars on Your Home Mortgage spells out everything mortgage hunters need to know in clear and accessible terms. It covers more loan alternatives than any other book and examines the importance of discount points. It offers complete details on virtually every mortgage option currently available, what advantages each option offers, how to choose the right one for your needs, and how to save money in the process. New information in this edition will help you use the Internet to find a home and get a mortgage, examine automated underwriting models and conforming loan limits, and weigh new shopping strategies. Easy-to-read charts and graphs, helpful sample forms, and numerous examples will help you understand:
Confused by the terminology?
Overwhelmed by the choices?
Baffled by the forms?
You're not alone. The mortgage business has become so complex that most people can't make heads or tails of it. This indispensable new guide spells everything out for you—in clear, accessible terms. Covering more loan alternatives than any other book, and providing a first-time look at the importance of discount points, How to Save Thousands of Dollars on Your Home Mortgage has complete details on virtually every mortgage option currently available, what their advantages are, how to choose the one that's right for you, and—best of all—how to save money in the process. With easy-to-read charts and graphs, helpful sample forms, and numerous examples, here's where you'll learn about:
About the Author
RANDY JOHNSON is President of Independence Mortgage Company and has personally originated over $600 million in residential loans. He is also the author of How to Find a Home and Get a Mortgage on the Internet, available from Wiley. Visit his Web site at www.loan-wolf.com.
Table of Contents
The Structure of the Mortgage Industry.
How Lenders Influence Borrowers' Choices.
How Lenders Market Loans.
How to Choose the Right Loan.
For First-Time Home Buyers.
The Lowdown on ARMs.
CHOOSING A LENDER AND GETTING APPROVED.
Bank, S&L, or Broker?
Shopping for a Loan and Negotiating with a Lender.
APR, Buy-Downs, and Discount Points.
What to Do When You Run Into a Problem.
LOCKING AND CLOSING.
How Lenders Can Cheat Their Customers.
Closing Costs, Lender Fees, and Other Fees.
Fifteen-Year Loans and Accelerated Payoffs.
Equity Lines, Seconds, and Reverse Mortgages.
No-Cost and Zero-Cost Loans.
Technology: The Internet and Software.
Epilogue: On The Need for Reform and Other Thoughts.
What Our Readers Are Saying