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Amazon.com Review
For a good deal of of us, the single biggest financial dealing is buying a house. Even more significant than the hefty down payment we fork over is the 15- to 30-year mortgage that needs feeding each month. If you have this much at stake, a little psychological result of perception learning and reasoning may go a long way, which is where Eric Tyson and Ray Brown come in. In Mortgages for Dummies, Tyson and Brown (who also wrote Home Buying for Dummies and House Selling for Dummies) provide a comprehensive introduction for any person who is contemplating a mortgage. The book tells you how to valuate your creditworthiness, determine your borrowing power, and shop for a lender, as well as covering the respective types of loans. The writers also devote a section to refinancing and talk about what you ought to consider when prepaying a loan. They include amortization and remaining-balance tables, and a utile glossary. Whether you’re a first-time home buyer or are just looking to refinance, you’ll find this a valuable, easy-to-use guide. –Harry C. Edwards
Review
“Fun-to-read…. Deciphers mortgage mumbo-jumbo.” —San Jose Mercury News
“A favorite…. Fun reading and informative.” —Minneapolis Star Tribune
“Objective, down-to-earth…. A book I wish I’d read before purchasing my primary lemon-of-a-home.” —Wilmington News Journal
“Invaluable information, exceptionally for the original time home buyer.” —Fort Worth Star-Telegram
From the Back Cover
The proven guide to getting the best mortgage — and surviving today’s lending crisis
Need a mortgage, but worried with regards to the hostile market? Bestselling writers Eric Tyson and Ray Brown give you proven solutions for obtaining a mortgage, whether you want to buy your firstborn home, refinance, or tap into your equity. You get the latest on subprime and adjustable-rate mortgages, finding the best lender, avoiding fiscal pitfalls and foreclosure, and much, much more!
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Why this book is dissimilar — two real estate experts give you objective, jargon-free counsel that takes into account your financial goals
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Fine-tune your finances — valuate your expenses, calculate what you may afford, and improve your credit score
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Find the right loan for you — from fixed- and adjustable-rate to 15- to 30-year to conforming and jumbo, weigh all your options
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Choose the best lender/broker — consultation and work with the cream of the crop, compare programs, and negotiate loan terms
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Consider particular circumstance loans — from home equity to co-op to balloon loans, grasp the tax aftermaths and legalities
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Handle refinancing and reverse mortgages — determine if you will have to explore these options, crunch the numbers, and save money
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Get helpful resources — commended mortgage Web sites, loan amortization tables and comparison worksheets, and more
Open the book and find:
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How to qualify for a mortgage
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Ways to lower your interest rate
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Updated worksheets and tools for calculating mortgage costs and payments
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New selective information on foreclosures
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Tips for saving tax dollars
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Interview questions to ask lenders/brokers
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Expert guidance in completing all paperwork
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The dos and don’ts of using the Internet
Need a mortgage but worried with regards to the market? In Mortgages For Dummies, 3rd Edition, bestselling writers Eric Tyson and Ray Brown give you proven solutions for obtaining a mortgage, whether you want to buy your initial home, refinance, or tap into your equity. You get the latest on sub-prime and adjustable-rate mortgages, finding the best lender, avoiding fiscal pitfalls and foreclosure, and much, much, more!
This easy-to-understand, objective, and jargon-free guide helps you fine-tune your finances, figure out what you may afford, and improve your credit score before you go mortgage shopping. You’ll get intimate with the vantages and disfavors of fixed- and adjustable-rate mortgages, 15- and 30-year loans, and conforming and jumbo packages. You likewise get support finding and working with reputable professionals, comparing programs, and securing terms you may live with. Discover how to:
- Match your mortgage to your financial goals
- Qualify for a mortgage even when cash is tight
- Find the right loan for you
- Choose the best lender/broker
- Negotiate the best terms
- Calculate your costs and payments
- Understand and finish all paperwork
- Refinance an existent mortgage
- Understand and consider particular circumstance loans
- Explore reverse mortgages and other options
- Decipher amortization tables and comparison worksheets
- Use the Internet wisely when mortgage shopping
Now, more than ever, you need clear, authenti selective information that helps you get the mortgage you need at a price you may afford. You need Mortgages For Dummies, 3rd Edition!
Product Details
- Amazon Sales Rank: #60101 in Books
- Published on: 2008-10-06
- Original language: English
- Number of items: 1
- Dimensions: .66″ h x 7.40″ w x 9.14″ l, 1.02 pounds
- Binding: Paperback
- 312 pages
Reviews
39 of 40 people found the following review helpful.
Just what the doctor ordered
By A
Excellent, plain English explanation of the various mortgages and how to choose one that best fits your situation. Also details how to shop and negotiate the best deal…with all the hype about shopping on the internet, that excellent chapter alone is worth the price of the book. I learned a lot about “creative financing” techniques like 80-10-10 loans that I knew nothing about before picking up a book. I’ve tried other mortgage books and found them to be dull and not to the point. This book was a joy to read and left me thinking clearly!
30 of 32 people found the following review helpful.
very helpful, if not extremely polished
By M. H. Bayliss
You will definitely find out just about anything you wanted to know about mortgages: fixed and ARM (all the others are variations on these themes). My only small complaint is the same as the reviewer’s below: several times the authors refer to appendices that are not there! There are also some typos (“suprised”) some in prominent places — it just gave me the feeling that the book was rushed. One piece of information I felt they could have spent more time on was the mechanical side of paying down a 30 mortgage faster. For example, how many years does it take off your loan to put in one extra payment a year, or $100 per month, etc…. Home buyers often pick a 30 year mortgage because of the low monthly payment, but can strive to put in an extra payment a year to save tens of thousands of dollars of interest. This information would have given more details to the types of mortgages most people get. The authors spent a bit too much time by comparison on some relatively rare loans (reverse mortgages) although no one will put a gun to your head and make you read those parts. Overall, it was easy to follow and the best of the books on understanding how mortgages work and how to compare them.
17 of 17 people found the following review helpful.Very useful for first time home buyer
By Paul Moore
I’ve found this book the most useful of the dozens I scanned through at the bookstore. The numbers used in the examples better represented the real-world of 1999 than the others. The authors do a good job of explaining the steps one should take to obtaining a mortgage and the many terms that are thrown about the mortgage industry. I didn’t come away from the book with a definitive answer to “which mortgage is right for me?” but I certainly understood what the trade-offs were between the different ones.
One problem I did have with the book is the many references to the graphs in “Appendix C” of how the ARM indices have behaved over time. The copy of the book I have has no such information in appendix C or any other appendix.
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