Find The Home Mortgage That’s Right For You
Finding the right mortgage can be complex, confusing, and frustrating. But that doesn’t 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:
* First-time buyers programs
* APR, buy-downs, reverse mortgages, accelerated payoffs, and zero point loans
* Refinancing strategies
* Closing costs, lender fees, and other expenses
* How to dispute credit report errors and fix credit problems
* How to use the Internet for loan analysis
- As a new Loan Officer and looking for some real world experience i’m looking for some book with some real life advise and experience that i can gain deep knowledge about mortgage.
This book give a solid foundation and in depth knowledge that i can’t get from other Loan Officer in our company.
I will definitely recommend this book to anyone looking for some in depth knowledge and practical way to learn this industry and save money and time for homeowner as well as for new loan officer.
i’m getting another one because the first book is fully hightlighted.
There hasn’t been a single question about mortgage this book hasn’t fully answered for me. This book is geared towards the first time home buyer who can’t tell the difference between a mortgage from a smorgage. Although it won’t make you an expert, it will provide a comprehensive understanding of every aspect of obtaining a mortgage. I particularly found the section on garbage fees very helpful. It has shaved off hundreds of dollars from my closing fees, and that alone was worth the price and the time invested in reading this book.
This book is a must-read for anyone who doesn’t have much knowledge of the mortgage process. It’s easy to understand, and covers the entire process of shopping for and closing a mortgage. While it does tend to be biased towards dealing with mortgage brokers, anyone can use this book to educate themselves on what they need to know to be a smart mortgage shopper, whether they use a bank or broker. This is the best resource on mortgages for the “common person” (like myself) that I’ve found, and I’ve looked at MANY. You can’t go wrong buying this book. I wish I’d read it before I bought the first time – I’d have saved a bunch of money and headache.
An excellent and detailed book about all the options, choices and benefits of various mortgage products and strategies. A book that can literally save you thousands upon thousands of dollars – not merely by comparison shopping but by making sure you actually go shop for the right product. Absolutely required reading before a home purchase or refinance.
I recently purchased the second edition of this book from www.amazon.com . I chose it because it had such impressive customer reviews, but it was even better than I expected! HOW TO SAVE THOUSANDS OF DOLLARS ON YOUR HOME MORTGAGE was undoubtedly the most valuable reading I’ve done in a long time. The advice will probably save me money every month for the rest of my life. I am so glad I read it before I completed the mortgage on my first home, I can just imagine the readers who are writing their second or third morgages kicking themselves as they turn the pages. IF YOU ARE GOING TO TAKE THE TIME TO READ ANYTHING BEFORE YOU BUY YOUR NEXT HOME, READ THIS BOOK FIRST!!!!
The book is written in an understandable language for the lay person. It provides plenty of examples and tables which back up what the author is saying. In addition, the author provides worksheets from his website which helps readers to calculate mort. payment, etc. The reader definately will have a knowledge of how to negotiate your interest rate and eliminate unnecessary fees. The author touches on the topic of credit which is what we all need to obtain a house. If you’re tired of being abused by individuals in the industry, then this book is for you.
Anyone thinking of buying a house should read this book. It is thousands of dollars worth of advice from an experienced broker for only $13! Randy Johnson gives you all the essential tools and knowledge to make an educated decision about your home and your investment. I’m an MBA grad and a finance professional and found this book offered much info that I had never learned about. Invaluable for anyone – finance professionals or otherwise.
- This is one of the books I bought when I bought my first house. It’s a fine reference source if you want to know what all the different mortgage options are (e.g., what’s the difference between a fixed-rate mortgage and an adjustable-rate mortgage, what indexes are ARMs tied to, etc.). And the author–Randy Johnson–makes honest recommendations on which mortgages best suit certain typical lifestyles or income scenarios. Also, one of the books great strengths is the discussion of how many discount points to pay. The one thing I found missing, though*, was at least one real-world scenario that you’re likely to see used if you visit a mortgage broker in my neck of the woods [Silicon Valley], or other high-priced regions. And that is the use of a ‘first’ and a ‘second’ mortgage in a so-called “piggyback financing” or “80-10-10 financing” arrangement which can help you eliminate Private Mortgage Insurance (PMI). There’s no in-depth discussion of this technique–which is very common–which I found incredible. There’s all this advice on getting an ARM tied to the CD index vs. the LIBOR index with a balloon payment if you stay in your house for 3 years instead of 10 years and so on and so forth…but nothing about getting a conforming, fixed-rate, 30-year first mortgage and a smaller second in a technique to reduce your overall payments during the lives of the loans. It’s a simple technique, and very worth a detailed analysis, but I couldn’t find it. Anyway, like I said, if you want to know esoteric information about mortgages, then this is a worthy book. It helped me, it’s just a little shy of a full-fledged 5-star effort.
*Please Note: The review written above pertained to the 1st edition which I initially gave a 4-star rating. The second edition–which I now own also–has effectively covered “Piggyback” loans (i.e, 80-10-10 transactions), which I think propels this book into a solid 5-star work. The second edition also has updated information on shopping for a mortgage on the Internet, and some [though not all] of the examples that show different types of mortgages have had their interest rates brought more into line with present-day (i.e., 2002) rates. This is an excellent book for folks who want to know all about mortgages.