How to Get the Best Home Loan [Paperback]

W. Frazier Bell (Author)

Book Description

Publication Date: August 1992

A mortgage banker and former realtor reveals the secrets of the mortgage process… You can save yourself hundreds — maybe even thousands of dollars — by arming yourself with the information you’ll find in this book. W. Frazier Bell, a longtime mortgage banking industry insider, trainer, and former realtor, demystifies the mortgage lending process. In plain language, he explains everything you’ll need to know to get the right loan at the right price from the right lender. Once you understand the process, you’ll know how to save time and money. In How to Get the Best Home Loan, you will discover clear, nontechnical explanations of such topics as:

• Why Do Lenders Do the Things They Do?
• Cash — Trying to Beat the Rules
• When Bad Credit Can Be Forgiven
• L-T-V (Loan-to-Value) Means R-E-S-P-E-C-T
• The ABCs of FRMs, ARMs, FHAs, GEMs, and TILs
• The Different Types of Properties
• The Different Types of Lenders — the Good, the Bad, and the Ugly

Packed with real-life examples, proven advice, sample forms, and hard-won experience, this comprehensive guide will help you make intelligent, informed decisions about getting a mortgage.

Editorial Reviews

From the Back Cover

Save Time and Money–and Get the Loan That’s Right for You

Ever-changing mortgage guidelines . . . confusing financial forms . . . if you’re buying or refinancing a home, you know all too well how overwhelming and intimidating the mortgage process can be. This revised edition of How to Get the Best Home Loan guides you through all the critical issues and demystifies the mechanics of mortgage lending–everything from disclosures and fees to closing costs, points, and making payments. Longtime mortgage banking industry insider and former realtor W. Frazier Bell helps you sidestep the risks of financing a mortgage and sheds light on many unknown aspects that keep borrowers from making intelligent, money-saving decisions.

Written in clear, simple language, this comprehensive Second Edition features new information on desktop underwriting, merged credit reports, and using the Internet, as well as updated sections on verifications, qualifying, and loan types. Bell gives you hands-on access to his hard-won experience, providing the tools you need to:

• Understand why lenders do the things they do
• Learn what to look for when comparing loans and lenders
• Head off potential problems and expensive mistakes
• Navigate FRMs, ARMs, FHAs, GEMs, and TILs
• Know why certain loans may be better for you than others
• Save yourself hundreds, even thousands, of dollars

Packed with real-life examples, sample forms, and proven advice, How to Get the Best Home Loan, Second Edition will ensure that you get the right loan, at the right price, from the right lender. --This text refers to the Unbound edition.

About the Author

W. FRAZIER BELL is past president of the Charlottesville Area Mortgage Bankers Association. He has taught college-level courses on mortgage lending and has been successfully active in real estate, contracting, and mortgage banking for twenty-eight years. Bell also served as a direct endorsement underwriter for FHA loans. --This text refers to the Unbound edition.

Product Details

• Paperback: 256 pages
• Publisher: Wiley; 1 edition (August 1992)
• Language: English
• ISBN-10: 0471558516
• ISBN-13: 978-0471558514
• Product Dimensions: 8.9 x 6 x 0.7 inches
• Shipping Weight: 12 ounces
• Average Customer Review: 4.0 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #6,018,645 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

3 of 3 people found the following review helpful:

5.0 out of 5 stars Excellent., July 20, 2001

By A Customer

This review is from: How to Get the Best Home Loan, 2nd Edition (Paperback)

I hesitated at first, I'd had a home loan before. What else was there to learn? I cannot put this book down. There is so much to know about home loans and this author writes it in easy to understand language. I wish I had this book 10 years ago. The is an excellent, easy to understand book packed with information that I highly recommend everyone read before applying for a home loan.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Provides the Details other Books don't, September 7, 2002

By A Customer

This review is from: How to Get the Best Home Loan (Paperback)

I have read several home-buying books and two other mortgage books and found this to be the only source for detailed information. As another reviewer suggested, if you want the feel-good basics then look elsewhere ("Navigating the Mortgage Maze", by Turnauer or "The Centuray 21 Guide to Choosing your Mortgage"). My view is that if you are taking the time to read a book on a subject, you want details. I find generalities and broad sweeping statements a waste of time. This text provides a breadth and depth of information in a clear and succinct manner. My only complaint is that the book could be updated with a newer edition. However this 10 year-old text is by no means out of date since the author gives you the framework to understand everything in the fast-changing mortgage industry.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Very Useful and Informative, March 15, 2002

By A Customer

Amazon Verified Purchase

This review is from: How to Get the Best Home Loan, 2nd Edition (Paperback)

Nine times out of ten the biggest factor that decides whether or not you successfully buy or sell a real estate property is -- financing. And yet it is the one area people know the least about. By understanding home loans and how they work, you dramatically increase your chances. And this book is the best on the subject I have read. The writer is a professional experienced mortgage broker who writes well. The bottomline, as the writer states, is "Most loans...are approved or denied based on some very fundamental rules." It's really good to know these fundamentals.