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25 Reviews
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43 of 44 people found the following review helpful
5.0 out of 5 stars Just what the doctor ordered
Excellent, plain English explanation of the various mortgages and how to choose one that best fits your situation. Also details how to shop and negotiate the best deal...with all the hype about shopping on the internet, that excellent chapter alone is worth the price of the book. I learned a lot about "creative financing" techniques like 80-10-10 loans that...
Published on May 10, 1999

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6 of 8 people found the following review helpful
2.0 out of 5 stars Roll this into Home Buying for Dummies
I have never bought a house, but I considered myself investment and money savy. This book should be rolled into the homebuying for dummies, there just wasn't enough valuable information in it to make it worth the money.

Don't buy this book if you already no the differance between Fix and Adjustable, understand how points typiclaly lower interest costs,...
Published on December 28, 2010 by John


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43 of 44 people found the following review helpful
5.0 out of 5 stars Just what the doctor ordered, May 10, 1999
By A Customer
Excellent, plain English explanation of the various mortgages and how to choose one that best fits your situation. Also details how to shop and negotiate the best deal...with all the hype about shopping on the internet, that excellent chapter alone is worth the price of the book. I learned a lot about "creative financing" techniques like 80-10-10 loans that I knew nothing about before picking up a book. I've tried other mortgage books and found them to be dull and not to the point. This book was a joy to read and left me thinking clearly!
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33 of 35 people found the following review helpful
4.0 out of 5 stars very helpful, if not extremely polished, September 22, 2000
You will definitely find out just about anything you wanted to know about mortgages: fixed and ARM (all the others are variations on these themes). My only small complaint is the same as the reviewer's below: several times the authors refer to appendices that are not there! There are also some typos ("suprised") some in prominent places -- it just gave me the feeling that the book was rushed. One piece of information I felt they could have spent more time on was the mechanical side of paying down a 30 mortgage faster. For example, how many years does it take off your loan to put in one extra payment a year, or $100 per month, etc.... Home buyers often pick a 30 year mortgage because of the low monthly payment, but can strive to put in an extra payment a year to save tens of thousands of dollars of interest. This information would have given more details to the types of mortgages most people get. The authors spent a bit too much time by comparison on some relatively rare loans (reverse mortgages) although no one will put a gun to your head and make you read those parts. Overall, it was easy to follow and the best of the books on understanding how mortgages work and how to compare them.
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17 of 17 people found the following review helpful
4.0 out of 5 stars Very useful for first time home buyer, January 5, 2000
By 
I've found this book the most useful of the dozens I scanned through at the bookstore. The numbers used in the examples better represented the real-world of 1999 than the others. The authors do a good job of explaining the steps one should take to obtaining a mortgage and the many terms that are thrown about the mortgage industry. I didn't come away from the book with a definitive answer to "which mortgage is right for me?" but I certainly understood what the trade-offs were between the different ones.
One problem I did have with the book is the many references to the graphs in "Appendix C" of how the ARM indices have behaved over time. The copy of the book I have has no such information in appendix C or any other appendix.
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19 of 21 people found the following review helpful
5.0 out of 5 stars Extremely helpful in getting our mortgage, October 2, 2003
By 
I read this book shortly before we signed to build a home, and I can't say how helpful it has been. Knowing how mortgages work (especially ARMs) and the right questions to ask has definitely changed the treatment we have received from various mortgage companies. We ended up going with our builder for financing and after dealing with them, I get the impression that a lot of people DON'T read up on mortgages and just take whatever is offered. Don't just trust the mortgage companies to give you the best deal - read this first and arm yourself for negotiating!
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15 of 17 people found the following review helpful
5.0 out of 5 stars Do not go Home buying without reading this first !!!!!, May 4, 2003
By 
This book has done a great job in explaining and putting in simple, understandable words all the mortgage techicals and jargon. The mortage offical that originated my loan application was amazed at how much i knew about the matter (if she only knew). Seriously, if you want to get the deal that benefits you the most, then get this book and save hundreds and maybe thousands on closing costs and interest rates during the life of your loan. It will only cost you $16.99 and some little time to read and understand. Hope your have a great deal!!!
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14 of 16 people found the following review helpful
5.0 out of 5 stars The best book of its kind on the market, December 27, 2001
By A Customer
Excellent book. This book is well-written, concise, and articulates the essentials of mortgages succintly and with real-life examples.
As a serious first-time home buyer and real-estate investor, I needed to develop a fundamental understanding of the different types of mortgages available on the market and what is best suited for me and my financial goals.
This book classifies all mortgages into its 2 basic types, and explains benchmark mortagage financing options as well as the more exotic or creative types of financing available.
Easy to read, fun to read and you'll get a lot out of it.
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6 of 6 people found the following review helpful
5.0 out of 5 stars very informative, May 25, 2001
By A Customer
Verified Purchase(What's this?)
Being a new home buyer, I found this extremely useful - especially while going through a re-financing. But as the book says it's for dummies [like me :)], and covers only the basics.
very well written.
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7 of 8 people found the following review helpful
4.0 out of 5 stars A good book without the technical jargon, October 2, 2002
By 
This book was an excellent reference for me. I'm looking for a home now and wanted something to prepare me for securing a great mortgage. The authors present the material in a clear cut way while leaving out most of the technical jargon that you most likely have a lawyer or soemone your working with who is a professional in the real estate trade explain to you. You get a thorough understanding of the mortgage without going crazy trying to remember terms of the industry. It's also filled with a load of real world insight on many aspects of the various mortage types, lenders and "rule bending". I was tossed up between "Buying and Selling a Home" by Kiplingers Personal Finace Staff but again it didn't have many technical terms and industry jargon that Kiplingers had. When your a busy person with little time to yourself but want to be prepared for one of life's major puchases than this should be the book for you. I will definitely look over the other books in this line pertaining to real property before checking out other publishers.
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6 of 8 people found the following review helpful
2.0 out of 5 stars Roll this into Home Buying for Dummies, December 28, 2010
By 
John (Fort Polk, LA, United States) - See all my reviews
(REAL NAME)   
Verified Purchase(What's this?)
This review is from: Mortgages For Dummies, 3rd Edition (Paperback)
I have never bought a house, but I considered myself investment and money savy. This book should be rolled into the homebuying for dummies, there just wasn't enough valuable information in it to make it worth the money.

Don't buy this book if you already no the differance between Fix and Adjustable, understand how points typiclaly lower interest costs, understand that banks and lenders want to compete for your business (so hunt for the best loan).

Buy this book if you are looking for a read ahead before buying a mortgage, or want to get a standard understanding of how the system works. This will not help your credit problems or getting a better loan with possible the exception of fees and lender pratices.
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1 of 1 people found the following review helpful
5.0 out of 5 stars It was a great book and helped me in buying my first house, September 18, 2012
Verified Purchase(What's this?)
This review is from: Mortgages For Dummies, 3rd Edition (Paperback)
I bought this book before I bought my first house. This book was recommended to me by a colleague of mine who bought her first home too. I must say this book helped me immensely in my decision buying process especially to check up on your credit score and go though all the origination fee and looking for a good realtor, all of them makes sense and when used correctly helps you in buying a great house without paying dearly for it.

It helped me to focus as to what I absolutely need in a house and what I would like to have in a house. These factors helps you to choose the right house and not going overboard.

To future homeowners, my suggestion is buy this book and read it cover to cover before you start the home buying process at least couple of months before you start the whole house buying process. That will help (no pun intended) to get your house in order with respect to your credit score, need and want, realtor, pre-loan approval and things like these. Pay money and get a good home inspector to inspect the house and don't go for the cheapest one. Trust me you will be better off. Go for a home inspector who is also a building engineer, they tend to have a more critical eye and helps you in getting the right house just understand that they are not exactly cheap.

Hope you find your dream home.
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Mortgages For Dummies, 3rd Edition
Mortgages For Dummies, 3rd Edition by Eric Tyson (Paperback - October 6, 2008)
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