Mortgage Truths: The Facts and FictionsThis book goes into detail not only on how mortgage brokers get paid and what you are paying for, but also explains all the different mortgages out there. It helps show you how to save thousands with this information. |
Contents
GOOD FAITH ESTIMATES | 21 |
APPROVALS AND PREQUALIFICATIONS | 39 |
SUBPRIME LOANS | 53 |
100 FINANCING FHA VA AND BRIDGE | 69 |
Common terms and phrases
30 year fixed ADJUSTABLE RATE MORTGAG agreement applied appraisal ARM’s basically borrower CHAPTER charge closing agent closing costs conventional loan credit report current home Deferred Interest Loan disclosures Division of Banks equity line escrow extra payment Faith Estimate Fannie Mae Federal FHA loan financing Freddie Mac getting paid goes adjustable Hazard Insurance Here’s higher rate interest rate investment decisions keep in mind licensed loan amount lock lot of money means month LIBOR monthly payment months worth Mortgage Backed Securities mortgage broker mortgage payment Mortgage Truths NEGATIVE AMORTIZATION offered Origination Fee paperwork pay a point pre-approval pre-payment penalty pre-qualification Prepaid principle Private Mortgage Insurance purchase Real Estate realtors refinance refinancing remember ripped sell someone SUB-PRIME LOANS talk taxes tell third-party providers type of loan underwriter usually what’s what's called Yield Spread Premium