How to Save Thousands of Dollars on Your Home Mortgage - Softcover

Johnson, Randy

Softcover

ISBN 10: 0471192538 ISBN 13: 9780471192534

Publisher: Wiley, 1998

Synopsis

Confused by the terminology?

Overwhelmed by the choices?

Baffled by the forms?

You're not alone. The mortgage business has become so complex that most people can't make heads or tails of it. This indispensable new guide spells everything out for you—in clear, accessible terms. Covering more loan alternatives than any other book, and providing a first-time look at the importance of discount points, How to Save Thousands of Dollars on Your Home Mortgage has complete details on virtually every mortgage option currently available, what their advantages are, how to choose the one that's right for you, and—best of all—how to save money in the process. With easy-to-read charts and graphs, helpful sample forms, and numerous examples, here's where you'll learn about:

• First-time buyers programs
• APR, buy-downs, reverse mortgages, accelerated payoffs, and zero point loans
• Refinancing strategies
• Closing costs, lender fees, and other expenses
• Disputing credit report errors and fixing credit problems
• Using the Internet for loan analysis
• And much more!

About this title

About the Author

RANDY JOHNSON is President of the Independence Mortgage Company and has personally originated over $400 million in residential loans.

Overwhelmed by the choices?

Baffled by the forms?

You're not alone. The mortgage business has become so complex that most people can't make heads or tails of it. This indispensable new guide spells everything out for you--in clear, accessible terms. Covering more loan alternatives than any other book, and providing a first-time look at the importance of discount points, How to Save Thousands of Dollars on Your Home Mortgage has complete details on virtually every mortgage option currently available, what their advantages are, how to choose the one that's right for you, and--best of all--how to save money in the process. With easy-to-read charts and graphs, helpful sample forms, and numerous examples, here's where you'll learn about: First-time buyers programs APR, buy-downs, reverse mortgages, accelerated payoffs, and zero point loans Refinancing strategies Closing costs, lender fees, and other expenses Disputing credit report errors and fixing credit problems Using the Internet for loan analysis And much more!

Excerpt. © Reprinted by permission. All rights reserved.

From the Introduction Most people think that the most expensive thing they will ever buy is their home; in fact it is their mortgage. Consider this: If you buy a $100,000 home and finance $80,000 with a 30-year loan at an interest rate of 8 percent, you'll make a $20,000 down payment and end up paying a whopping $131,324 in interest. That's a total of $231,324 for your $100,000 home! [...] In this book, you'll learn specific strategies to help you process information more effectively, to find out who the best lenders are, and how to drive a harder bargain with those lenders. Specifically, this book will explain the following:

The structure of the industry

Why lenders do what they do

How lenders market loans

How to determine the best loan for your family

How to find the best lenders

How to negotiate the best deal for you

How to lock in the rate on your loan at the best time

How to avoid being victimized.

How to use the most modern technological development--the Internet-- to help

you secure a loan

Edition details

• Publisher: Wiley
• Publication date: 1998
• Language: English
• ISBN 10: 0471192538
• ISBN 13: 9780471192534
• Binding: Paperback
• Edition number: 1
• Number of pages: 288