Mortgage Basics for First Time Home Buyers: From Application to Closing in Plain English
Book Details
Author(s)
Martin Sloan
ISBN / ASIN
B00NJTIL4Q
ISBN-13
978B00NJTIL40
Sales Rank
#177,693
Marketplace
United States 🇺🇸
Description
So you want to buy your first home in 2015? You have questions. This book has answers.
Let this former mortgage originator and long-time freelance writer for the real estate industry walk you through the entire home finance process, in a language you can understand, from start to finish.
In this ground level review, you will learn about the role that income, debt, assets and credit, play in the qualification process, as well as how to find the right originator, and what to do if you don’t.
If you have had a bankruptcy, collections, judgments, or need some type of credit repair, there are chapters on those subjects as well.
You will also get insight as to specific programs such as Conventional financing, FHA, and VA. Here you’ll see minimum down payment information, and what type of mortgage insurance, if any is needed for each.
If you plan on making your first home an investment property, there is information as to what to expect as far as qualifying, and how to calculate return on investment, or ROI.
The appendix of the book will get deeper into the material with sections as to why you absolutely need a real estate attorney to work with, and how appraisals and home inspections work. There is also the resources section where you will find links to more information that was covered in the book.
As the book points out often, there will be many challenges you will face in the process, and things that will make little sense. The job of Mortgage Basics is to bridge that gap, and to help you understand why, for example, your lender seems to be asking for so much documentation.
Let this former mortgage originator and long-time freelance writer for the real estate industry walk you through the entire home finance process, in a language you can understand, from start to finish.
In this ground level review, you will learn about the role that income, debt, assets and credit, play in the qualification process, as well as how to find the right originator, and what to do if you don’t.
If you have had a bankruptcy, collections, judgments, or need some type of credit repair, there are chapters on those subjects as well.
You will also get insight as to specific programs such as Conventional financing, FHA, and VA. Here you’ll see minimum down payment information, and what type of mortgage insurance, if any is needed for each.
If you plan on making your first home an investment property, there is information as to what to expect as far as qualifying, and how to calculate return on investment, or ROI.
The appendix of the book will get deeper into the material with sections as to why you absolutely need a real estate attorney to work with, and how appraisals and home inspections work. There is also the resources section where you will find links to more information that was covered in the book.
As the book points out often, there will be many challenges you will face in the process, and things that will make little sense. The job of Mortgage Basics is to bridge that gap, and to help you understand why, for example, your lender seems to be asking for so much documentation.
