Book Description
A perfect 10! Required homework for finding the right home loan
On a scale of one to ten, nationally syndicated columnist Robert Bruss rated this book a solid ten. Written by an experienced mortgage banker, this money-saving guide uses a step-by-step approach to illustrate the mechanics involved in mortgage lending. Now in a thoroughly updated Second Edition, How to Get the Best Home Loan provides readers with expert advice on how to obtain the right loan at the right price from the right lender and provides comprehensive coverage of all types of loans, qualifications, and refinancing, the book highlights recent changes in mortgage lending, including the importance of credit scores and desktop underwriting, the use of computers, how to use the Internet, and what to look for when comparing loans and lenders. Other newly added sections examine merged credit reports, verifications, qualifying, and loan types.
W. Frazier Bell (Charlottesville, VA) is past president of the Charlottesville Area Mortgage Bankers Association and has been successfully active in real estate and contracting for eighteen years. He is the author of the first edition of How to Get the Best Home Loan (0-471-55851-6) (Wiley).
Synopsis
Ever-changing mortgage guidelines and confusing financial forms - if you're buying or refinancing a home, you know all too well how overwhelming and intimidating the mortgage process can be. This revised edition of "How to Get the Best Home Loan" guides you through all the critical issues and demystifies the mechanics of mortgage lending everything from disclosures and fees to closing costs, points, and making payments. Longtime mortgage banking industry insider and former realtor W. Frazier Bell helps you sidestep the risks of financing a mortgage and sheds light on many unknown aspects that keep borrowers from making intelligent, money-saving decisions. Written in clear, simple language, this comprehensive second edition features new information on desktop underwriting, merged credit reports, and using the Internet, as well as updated sections on verifications, qualifying, and loan types.
Bell gives you hands-on access to his experience, providing the tools you need to: understand why lenders do the things they do; learn what to look for when comparing loans and lenders; head off potential problems and expensive mistakes; navigate FRMs, ARMs, FHAs, GEMs, and TILs; know why certain loans may be better for you than others; and save yourself hundreds, even thousands, of dollars. With real-life examples, sample forms, and proven advice, this second editions of "How to Get the Best Home Loan", should ensure that you get the right loan, at the right price, from the right lender.
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