Mortgages for Dummies » (Abridged)

Eric Tyson, MBA, is a financial counselor, syndicated columnist, and the author of bestselling For Dummies books on personal finance, taxes, home buying, and mutual funds including Real Estate Investing For Dummies.

For typical homeowners, the monthly mortgage payment is either their largest or, after income tax, their second-largest expense item. When you’re shopping for a mortgage without the proper knowledge you could easily waster many hours of your time in addition to the financial losses suffered by not getting the best loan you can. Choosing the right mortgage can help you save money for more important financial goals such as higher education and retirement.

Updated with the very latest on every kind of load, this friendly, easy-to-understand guide will help you shop for the best home-purchase mortgage, overcome loan qualification obstacles, negotiate lower loan fees and closing costs, save for refinancing the house, or increase retirement income with a reverse mortgage. You can also determine your borrowing power, find the best lender and options and avoid fiscal pitfalls.

Introduction.

Part I: Fine-Tuning Your Finances.

Chapter 1: Determining Your Borrowing Power.

Chapter 2: Qualifying for a Mortgage.

Chapter 3: Scoping Out Your Credit Score.

Part II: Locating a Loan.

Chapter 4: Fathoming the Fundamentals.

Chapter 5: Selecting the Best Home Purchase Loan.

Chapter 6: Surveying Special Situation Loans.

Part III: Landing a Lender.

Chapter 7: Finding Your Best Lender.

Chapter 8: Surfing the Internet’s Mortgage Sites.

Chapter 9: Choosing Your Preferred Mortgage.

Chapter 10: Managing Mortgage Paperwork.

Part IV: Refinancing and Other Money Generators.

Chapter 11: Refinancing Your Mortgage.

Chapter 12: Reverse Mortgages for Retirement Income.

Part V: The Part of Tens.

Chapter 13: Ten Mortgage No-Nos.

Chapter 14: Ten Issues to Consider Before Prepaying Your Loan.

Part VI: Appendixes.

Appendix A: Loan Amortization Table.

Appendix B: Remaining Balance Tables.

Appendix C: Glossary.

Index.