It's Not About Rate
The Right Way To Get A Mortgage
by
Book Cover & Preview Text
Chapter 1: PREPARATION IS THE KEY
HERE’S THE GOOD NEWS
There are programs for just about anyone who wants to get a mortgage. Lower than excellent credit score? No problem. Can’t verify income? No problem. Can’t verify assets? No problem. No employment verification? No problem. Can’t verify income, assets, and employment? Difficult, but still very possible. Want to buy a home in
This book teaches you what you need to know about the mortgage process from an insider’s point of view. Your first lesson is to accept the fact that no matter what the advertisements say, the process is not so simple, especially if your financial situation is less than perfect. There are programs to accommodate less-than-perfect financial situations, but they are more complicated programs with more complicated guidelines. You will need an expert to guide you through the steps.
Your second lesson: seemingly small mistakes can cost the borrower big money. For example, a buyer may find the lowest rate, but if the loan does not close on time, or at all, unplanned expenses could be significant.
Your third lesson is that as a borrower, you do not have to understand everything there is to know about getting a mortgage—as long as you have chosen your loan officer wisely. It is the loan officer’s job to take the details of your situation, understand your personal goals, and match them to the best loan product for you.
A loan officer is a person who works for a lending institution and meets with people to help them obtain a loan. They have a knowledge and familiarity with various loan programs. In many states, loan officers must be licensed. Your loan officer will guide you through every step of the application, underwriting, and approval process so that your loan will be in place exactly when you need it to close on your new home.
Formats
Book Details
About the Book
Although it is normal for homebuyers to feel a little nervous and apprehensive during the mortgage process, getting a loan to buy a house doesn't have to feel like a 440-foot bungee jump.
In It's Not About Rate: The Right Way to Get a Mortgage, Richard Cohen writes about how the loan process can be understandable, uncomplicted, and smooth. He demonstrates why interest rate is only one of many factors that a borrower should consider. He explains how to differentiate between "come-ons" and sincere proposals and how to use the pre-approval process to leverage buying power.
About the Author
Richard Cohen’s new book, It’s Not About Rate: The Right Way to Get a Mortgage, is the culmination of thousands of conversations with new homebuyers. The book is intended to convey a comprehensive yet basic understanding of the mortgage process and the best way to approach it.
Richad lives with his wife and daughter in Chicago, IL. He looks forward to his next bungee jump.