Mortgages For Dummies, 3rd Edition

Mortgages For Dummies, 3rd Edition

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Editorial Reviews

Need a mortgage but worried about the market? In Mortgages For Dummies, 3rd Edition, bestselling authors Eric Tyson and Ray Brown give you proven solutions for obtaining a mortgage, whether you want to buy your first 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 can afford, and improve your credit score before you go mortgage shopping. You’ll get familiar with the advantages and disadvantages of fixed- and adjustable-rate mortgages, 15- and 30-year loans, and conforming and jumbo packages. You also get help finding and working with reputable professionals, comparing programs, and securing terms you can live with. Discover how to:

  • Match your mortgage to your financial goals
  • Qualify for a mortgage even when money is tight
  • Find the right loan for you
  • Choose the best lender/broker
  • Negotiate the best terms
  • Calculate your costs and payments
  • Understand and complete all paperwork
  • Refinance an existing mortgage
  • Understand and consider special situation 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, reliable information that helps you get the mortgage you need at a price you can afford. You need Mortgages For Dummies, 3rd Edition!

For many of us, the single biggest financial transaction 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 every month. If you have this much at stake, a little knowledge can 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 anyone who is contemplating a mortgage. The book tells you how to evaluate your creditworthiness, determine your borrowing power, and shop for a lender, as well as covering the various types of loans. The authors also devote a section to refinancing and discuss what you should consider when prepaying a loan. They include amortization and remaining-balance tables, and a useful 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

Customer Reviews

Mostly fluff; essential info lacking

Reviewed by JP, 2009-12-11

This audiobook was a complete waste of money for me. It is filled with lots of fluff, such as informing listeners that they can shop online for mortgages at all times of the day. Really? All times of the day? Can I shop for other stuff online at all times of the day? At the same time, the thing that confuses me most about mortgages is the idea of points. What are points? Why do people buy points? How does someone decide how many points to buy? I have no clue because the audiobook doesn't bring up the topic. That's probably what I most wanted to know, but the audiobook completely avoids the topic. I wish this audiobook had spent a little less time telling me how to shop on the internet so that some time could have been spent explaining what the heck points are.

I can honestly say that I learned nothing from listening to this audiobook. The Home Buying For Dummies CD is equally useless.

Definitely helpful for people have no idea about mortgage

Reviewed by Shih-Fang Ling, 2009-07-01

I've always learnt a lot from the "XXXX for Dummies" series. Highly recommend this one if you have no idea about mortgages and how things work.

a reference guide for the rest of us

Reviewed by O. Rijo, 2008-10-12

not a book you want to purchase if you want to learn the business but great if you are a home owner.

not worth the money

Reviewed by Brendamomof4, 2008-04-05

I learned nothing from this book that I didn't already know. After talking with friends and family and finding a good mortgage banker I trusted, I knew what I needed to. I was very disappointed in it!

Good For Starters

Reviewed by J.A. Obsideo, 2007-05-22

The book touches on the very basics of buying a home. Lots of industry terms defined - this solves a communication barrier to often seen in this industry. Often times, some lenders forget to check the literacy of there clients and breeze through the whole process without defining some key terms. With this book, loan officers/brokers/agents and clients are on the same page.

First time buyers who read this book will feel a little more confident, especially with reading articles and books pertaining to buying/investing in a home.