Mortgage Loans: What's Right for You? by James E. Bridges

Product Details

Synopsis

Whether you're buying or refinancing, this updated guidebook provides you with the knowledge you need to protect yourself and your home - including the latest government information affecting mortgages. Inside, you'll find facts on the different kinds of mortgages available - 20+ varieties, including adjustable, assumable, buy downs, conforming and nonconforming, convertible, farmer's home loan, FHA, fixed rate, fixed rate with balloon, graduated payment, and rent with option to buy. You'll read about the advantages and disadvantages of each, and what kinds of loans to avoid. Most important, you'll find out which one is right for you - depending on your age, particular needs and financial situation. This book takes the mystery out of caps, margins, points, and how they're figured. It answers the question, "What is P.M.I.?" It gives you a behind-the-scenes look at the mortgage bank, a rundown of what questions to ask, and a clear roundup of closing costs.

Annotation

Real estate broker and mortgage loan servicer James Bridges cautions the home buyer or those refinancing. Bridges includes information on caps, margins, points and how they're figured; a behind-the-scenes look at a mortgage bank; a roundup of closing costs; and more.