Mortgage Guide

mortgage guideBuying a new home can be a stressful process. Especially for first-time homebuyers. If you're in the market for a new house, condominium or otherwise, we've put together this detailed Mortgage Basics guide to help you navigate mortgage loan shopping and the lending process in 2024.

What you'll find this FREE guide:

  1. Renting vs. Buying
  2. Mortgage Loans
  3. Mortgage Lenders
  4. Interest Rates
  5. Closing Costs
  6. Application Process
  7. Post Application Tasks
  8. Closing Process
  9. Making Payments
  10. Refinancing to Save
  11. Avoiding Foreclosure

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Mortgage Basics Guide Overview

Once you've downloaded this free PDF e-book mortgage guide, you'll be pleased to find a ton of great content to help with the home buying process. Especially for first-time homebuyers. It takes you step-by-step through the home mortgage lending process to help you identify the best options available and find the right lending program for your specific needs.

Renting vs. Buying - One of the largest decisions people have to make is whether to rent or buy their next home. This first chapter walks potential homeowners through the pros and cons of renting versus buying a home and helps them determine how much home they can afford.

Mortgage Loans - This section provides a brief overview of the common types of mortgages, such as fixed-rate, adjustable rate (ARM), interest-only, and sub-prime real estate loans.

Mortgage Lenders - A detailed analysis of the different types of mortgage lenders, and the advantages and disadvantages of each type. This chapter also provides a number of important questions borrows should ask a potential lender.

Interest Rates - Provides a summary of how a person's credit score influences their interest rate and goes over which credit history report items have the biggest impact on their credit score.

Closing Costs - Covers the major costs homebuyers will have to remember when closing on a home loan, including the down payment, private mortgage insurance premiums (MIP, PMI), property taxes, discount points, and other fees that may affect your annual percentage rate (APR).

Applying - Provides a list of the paperwork that most lenders are going to require a home buyer provide for their application, the questions that will most likely be asked by the lender, and important questions a borrower should ask the bank, credit union, or licensed mortgage broker.

Awaiting Approval - This section gives the potential borrower a list of action items they can do to speed up the entire process while they're awaiting to hear back from the lender regarding whether their application was approved and what their options are if it gets denied. It also explains the process that takes place after their application is submitted to the mortgage company.

Closing Procedures - By this point most people start getting really excited, but they are often stressed out at the same time. Especially first-time homebuyers. This chapter outlines the closing process by letting borrowers know what they will likely need to bring to the closing table, and what exactly takes place around that time.

Payments - Explains who to make payments to after the real estate loan has been completed by the originator, and outlines the responsibilities of the mortgage servicer, buyer and seller, and others involved in the transfer of the property.

Refinancing - This section provides some great tips for saving money through a refinance and offers information on how to eliminate mortgage insurance on the initial home purchase, or by refinancing it later.

Foreclosures - Provides a detailed overview of the foreclosure process and gives an explanation of many modern-day alternatives for distressed homeowners, such as a short-sale, loan modification, and repayment plan.

How to Get this Free Home Mortgage Guide?

If you haven't already, simply enter your name and email address in the download form above. Then, once you've verified your e-mail, we'll send you a quick message with your free home mortgage guide as a PDF eBook attached.