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Everything you need to know before you borrow…
Unless you’re sitting on a pile of cash, chances are you’ll need to take out a mortgage when you’re ready to buy a home. But how do you know how much house you can afford? What should you look for in a loan? What kind of paperwork is needed . . . and how do you improve your odds of getting a great rate? Mortgages 101 eliminates the confusion and stress with clear-cut answers to all your questions.
Updated to reflect the enormous changes in the mortgage market in recent years, Mortgages 101 is the all-in-one reference you’ve been looking for. Covering a wide range of topics—from negotiating the best deal to saving on closing costs—this revised third edition provides the latest information on:
Application procedures • Online lenders • New loan and government programs • Qualifying requirements • Credit strategies • Down payment assistance and zero-down options • Guidelines for self-employed borrowers • Bankruptcies and waiting periods • Refinancing and home equity loans • Consumer Financial Protection Bureau rules • The Ability-to-Repay mandate • And much more
This is THE book you need to read before you sign on the dotted line.
From the Back Cover
Buying a home is a huge decision—and so is finding the right mortgage. (No, they’re not all the same.) Whether you’re purchasing your first home, or contemplating a new one, you must understand today’s complicated mortgage environment . . . so you can choose the best loan for you.
Mortgages 101 is the classic guide to everything you need to know — and now it’s completely updated to reflect the sweeping changes in recent years. This easy reference covers the entire mortgage process—everything from how much home you can afford to how to save big on your closing costs.
Written in a simple question-and-answer format, this revised third edition provides the latest information on: Application procedures • Online lenders • Down payment assistance, zero-down options, and new programs such as HomeReady • Qualifying requirements • Ways to lower your debt ratio • Credit scores: FICO, Vantage, and the “hidden” ones • Credit strategies (even if your credit scores are low) • Guidelines for self-employed borrowers • Bankruptcies and waiting periods • Refinancing and home equity loans • Consumer Financial Protection Bureau rules • The new Ability-to-Repay mandate • And much more.
The mortgage landscape has gotten safer, but it’s also more complex. Let Mortgages 101 guide you to the perfect loan for you. Then enjoy your new home.
Praise for the previous edition of Mortgages 101:
“Covers just about every issue that can come up, from how much to put down to the various types of mortgages available. Perhaps the best thing Mr. Reed does is explain, simply, how banks determine your creditworthiness.” — The New York Times
“With consumer-friendly language and an easygoing tone, Reed answers over 250 common, yet critical borrower questions.” — Mortgage Originator
“The advice in Mortgages 101 is unvarnished and to the point. Reed takes a dry subject and makes literally years of hard-gained knowledge digestible and usable.” — Realty Times
“[Reed’s] lucid explanations translate confusing mortgage industry jargon into plain English for the nonfinancial reader. . . . no-nonsense tone.” — Financial Planning
David Reed has two decades of experience in the mortgage industry as a Senior Loan Officer and Underwriter. He is a regular contributor to Realty Times and the author of several popular books on real estate.
- Publisher : AMACOM; Third edition (February 8, 2018)
- Language : English
- Paperback : 320 pages
- ISBN-10 : 0814438741
- ISBN-13 : 978-0814438749
- Item Weight : 15.5 ounces
- Dimensions : 6 x 0.75 x 9 inches
- Best Sellers Rank: #225,153 in Books (See Top 100 in Books)
- #87 in Mortgages (Books)
- #232 in Banks & Banking (Books)
- #388 in Real Estate Investments (Books)
- Customer Reviews:
4.4 out of 5 stars 128 ratings
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About the author
David Reed (Austin, TX) is the author of Mortgages 101, Mortgage Confidential, Your Successful Career as a Mortgage Broker , The Real Estate Investor’s Guide to Financing, Your Guide to VA Loans and Decoding the New Mortgage Market. As a Senior Loan Officer and Mortgage Executive he closed more than 2,000 mortgage loans over the course of more than 20 years in commercial and residential mortgage lending.
He is Principal of and Lead Writer for CD REED Professional Writers Group, dedicated to web-based marketing, ghost writing, content writing and search engine optimization for the Real Estate, Financial and Mortgage Industries. He has written copy for literally hundreds of websites, authored countless articles and is an expert in Search Engine Optimization.
He has appeared on CNN, CNBC, Fox Business, Fox and Friends and the Today In New York show. His advice has appeared in the New York Times, Parade Magazine, Washington Post and Kiplinger’s as well as in newspapers and magazines throughout the country.
Reed was the former Technology Chair for the Texas Mortgage Bankers Association, Board Member and President of the Austin Mortgage Bankers Association. He is married and a father of three in Austin. His website can be found at www.cdreed.com
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Reviewed in the United States on April 28, 2020
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I found this book informative and with answers to my questions that banks/mortgagors wouldn’t/couldn’t give me. It’s written as easy to understand, not over my head. Yes I would recommend it.
As a first time home buyer, I just didn’t understand all the complex matters involved in a house purchase and the financing involved. There are so many steps involved that aren’t outlined and this book will take you through all of them. I feel its a good starting point.
Reviewed in the United States on November 6, 2013
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Reviewed in the United States on January 18, 2013