Mortgage Kit (Mortgage Kit: Select the Right Loan, Lock in the Lowest Rate,) [Paperback]

Thomas Steinmetz (Author)

Book Description

Publication Date: March 21, 2002 | Series: Mortgage Kit: Select the Right Loan, Lock in the Lowest Rate,

Getting the very best deal on the mortgage loan is a key financial move for homebuyers, as well as for those looking to refinance a home loan. In the all-new fifth edition of The Mortgage Kit, mortgage guru Tom Steinmetz shares the secrets of how the process works-and how to save money every step of the way. Steinmetz covers new guidelines that govern loans to residential real estate investors and revised criteria for loan refinancing.

Reflecting changes in the financial sector, the book is completely updated throughout, with new sections that:

• Clarify what "automated underwriting" means and why consumers need to know.

• Explain the increasing attention lenders are paying to "credit scoring."

• Outline practical strategies to improve a lagging credit score.

• Provide hands-on Internet mortgage loan advice, resources, and contacts.

The Mortgage Kit is the one-stop mortgage resource, complete with forms, worksheets, and checklists to keep you on track.

Editorial Reviews

Amazon.com Review

Contrary to popular belief, most Americans' largest purchase is not their home. It is their mortgage, since the interest paid over the life of a home loan is usually more than the price of the home itself. And selecting a mortgage can be even more confusing that choosing a home. The fourth edition of The Mortgage Kit explains the intricacies of all the latest financing options in great detail. This can be heavy going, but worthwhile. Author Thomas C. Steinmetz notes that mortgage costs vary widely from lender to lender. Thousands of dollars may be saved by knowing how to compare rates, discount points, and fees to find the best buy. --Barry Mitzman --This text refers to an alternate Paperback edition.

About the Author

Thomas C. Steinmetz has been active in the real estate finance industry since 1974 and was an early provider of computer services and software to the real estate lending industry through his firm, Mortgage Banking Systems, founded in 1987. He also served as director of marketing and planning with PRC Loan Express, and as senior strategic planner for the Federal National Mortgage Association.

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Product Details

• Paperback: 288 pages
• Publisher: Kaplan Publishing; 5th edition (March 21, 2002)
• Language: English
• ISBN-10: 0793153719
• ISBN-13: 978-0793153718
• Product Dimensions: 9 x 7.4 x 0.7 inches
• Shipping Weight: 1 pounds
• Average Customer Review: 4.8 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #2,422,098 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

77 of 78 people found the following review helpful:

5.0 out of 5 stars Mortgage Kit provides insight in a way you can understand, December 5, 1999

By 

Alec Grebis - See all my reviews

This review is from: The Mortgage Kit (Paperback)

Most books about mortgages quickly lose your attention because they are written in a way that only insiders can understand. This book explains the process in a way most people can comprehend.

I used this book to train myself when I got into the mortgage industry. As a manager in a mortgage company, I use this book as a training tool for mortgage loan officers, so they learn to describe the process and loan programs in a way that the general public can understand.

The Mortgage Kit provides a detailed explanation of the entire mortgage process in every day language. It provides great inside tips for consumers about all different aspects of getting a mortgage. Including how to know whether or not your mortgage lender is treating you fairly, and important insights that will protect you from being taken for a ride.

All of the important basics are covered; from what your lender will look at when deciding whether or not to approve your loan, to the paperwork you need to pull together before going to apply for a loan and choosing the best mortgage program for your own needs.

The book is well organized in its layout. It is educational if you read it cover to cover. But more importantly, it's laidout in a way that allows you to find the topics you have questions about easily, so you can focus on learning the answers to them.

37 of 38 people found the following review helpful:

4.0 out of 5 stars No that Bad, April 6, 2000

By 

slider "slider" (NY) - See all my reviews

This review is from: The Mortgage Kit (Paperback)

If only for the calculators and the formulas you should pick this book up. Of all the mortgage books I've read this one has the best charts, calculators. etc. to help you figure out what you can afford and how much your monthly bill will be. It also has an incredible formula to help you compare the many fixed rates that you will be bombarded with. So if you are receiving rates of 7, 7.5, 8 3/8 plus 1, 1 1/2 and 2 points you will be able to calculate the APR for EACH of these different fixed rates. No book that I have read has included such a formula. The book paid for itself just because of this one item.

11 of 15 people found the following review helpful:

5.0 out of 5 stars Very helpful, October 5, 2000

By 

Serina Laney - See all my reviews

This review is from: The Mortgage Kit (Paperback)

This book is great for your average Joe who is planning to buy or refinance a home. It is written in simple English with a minimum amount of technical language. As a first time home buyer looking to educate myself, I found it very helpful.