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Own your own home-regardless of your credit rating
You can be a homeowner--even if your credit is nothing to brag about or virtually non-existent. This practical, fact-filled guide shows how to achieve your goal of home ownership with your current credit. Mortgage loan officer Thomas K. Masters teaches you the basics of home buying, from alternative mortgage programs to financing tips that will help you avoid the red tape of many home loans. Clear, concise, and free of technical jargon, this accessible, straightforward reference is filled with real-life examples. Here's where you can find essential information
* "Qualifying ratios" set by the federal lending authorities
* Assumable financing, wraparound financing, quitclaim deeds with refinance options, lease options, and quick qualifying loans
* What to look for in a lender
* Ways to qualify for low-down and no-down payment home loans
* Understanding loan applications and forms
* How to clean up your credit profile
You can be a homeowner--even if your credit is nothing to brag about or virtually non-existent. This practical, fact-filled guide shows how to achieve your goal of home ownership with your current credit. Mortgage loan officer Thomas K. Masters teaches you the basics of home buying, from alternative mortgage programs to financing tips that will help you avoid the red tape of many home loans. Clear, concise, and free of technical jargon, this accessible, straightforward reference is filled with real-life examples. Here's where you can find essential information
* "Qualifying ratios" set by the federal lending authorities
* Assumable financing, wraparound financing, quitclaim deeds with refinance options, lease options, and quick qualifying loans
* What to look for in a lender
* Ways to qualify for low-down and no-down payment home loans
* Understanding loan applications and forms
* How to clean up your credit profile
228 pages, Paperback
First published April 1, 1996
4 people want to read
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August 20, 2019
Mortgages and credit are subjects that, like IBM programming manuals, make little sense until there is something specific that you actually want to find out about them. Given the intrinsically snooze-worthy nature of the subject, this book was, in fact, fairly interesting.
This book was first published in 1996. Unless there is an updated version, I expect that much of what is in here is somewhat outdated; the big mortgage crisis in the early 2000s has caused many changes in the rules for the government agencies that oversee insuring mortgage loans and in the kinds of programs available to people with lower incomes and less than stellar credit.
However, some of the information here is probably still good. There are some good sections explaining terms involved in mortgage lending and in unusual ways of purchasing a home. There is also a good section at the end on how to clear up your credit record if yours has been damaged by incorrect or outdated information.
This book was first published in 1996. Unless there is an updated version, I expect that much of what is in here is somewhat outdated; the big mortgage crisis in the early 2000s has caused many changes in the rules for the government agencies that oversee insuring mortgage loans and in the kinds of programs available to people with lower incomes and less than stellar credit.
However, some of the information here is probably still good. There are some good sections explaining terms involved in mortgage lending and in unusual ways of purchasing a home. There is also a good section at the end on how to clear up your credit record if yours has been damaged by incorrect or outdated information.
Displaying 1 of 1 review