Field Guide to Getting a Mortgage
(Updated May 2010)
A mortgage is probably the biggest loan you'll ever take out and it's important to look at all of your options before you sign on the dotted line. In this Field Guide you will find information on the many types of mortgages available, including creative financing options, links to real estate calculators, government programs, do's and don'ts of refinancing and much more. (M. Glick, Senior Information Specialist)
Negotiating With Your Mortgage Lender
Negotiating With Your Mortgage Lender - Watch this Money Talks video to see how you should negotiate with your mortgage lender. Learn the tips that get your payments where they need to be.
Real Estate Financing Basics 
Getting a Mortgage in 2010: 10 Things to Know, (www.USNews.com, 2010).
How-to Guides-Mortgage Basics, (www.Finance.Yahoo.com, 2010).
Mortgage Interest Deduction Vital to Housing Market, (www.HouseLogic.com, Jan. 11, 2010).
Is a Reverse Mortgage Right for You?, (www.HouseLogic.com, Aug. 28, 2009).
The Lowdown on Getting a Low Down Payment Loan, (www.CNNMoney.com, Jan. 20, 2009).
Let FHA Loans Help You, (www.fhasecure.gov, July 16, 2009).
How much can I afford?, (www.Move.com, 2008).
11 Questions to ask your lendor, (www.Yahoo.com, May. 2008).
Ten questions to ask your lender, (REALTOR® Magazine Online, 2005).
Creative Financing
Selecting a Mortgage, (www.freddiemac.com, 2010).
Six creative ways to afford a home, (REALTOR® Magazine, 2010).
Four Creative Real Estate Ideas, (www.Mortgage-Investments.com, 2010).
Evaluating a Bank's Offer, (www.michaelblujay.com, 2009).
Creative Owner Financing, (www.articlesbase.com, Sept. 23, 2008).
Creative Seller Financing, (www.ezinearticles.com, Feb. 10, 2008).
Financial Resources and Programs
Affordable housing program (AHP), (Federal Housing Finance Agency, 2010).
American Dream Downpayment Initiative, (U.S. Department of Housing and Urban Development, May 2010).
Conventional Mortgage Programs Offerings At-a-Glance, (www.Freddiemac.com, Sept. 2009).
Government assistance programs, (www.Govloans.gov).
6 common mortgages and who they fit, (REALTOR® Magazine Online).
Tools you can use
Current Mortgage Rates, (www.Mortgage101.com, 2010).
Fannie Mae 2010 Single-Family Mortgage Loan Limits, (www.FannieMae.com, Jan. 2010).
CMHPI Data (Conventional Mortgage Home Price Index, (www.FannieMae.com, 2010).
Mortgage Terminology, (www.imortgageguide.com, 2010).
Housing affordability index, (NATIONAL ASSOCIATION of REALTORS®).
Free annual credit report, (www.AnnualCreditreport.com).
Housing to income ratio calculator, (www.Homebuyersfund.com).
Traditional Mortgages: Understanding your options, #126-125
Learn About FHA Mortgages, #126-128
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
American Mortgage (Adobe eReader)
Mortgage Myths (Adobe eReader)
Fast Track Your Mortgage (Adobe eReader)
Decoding the New Mortgage Market (Adobe eReader)
Mortgages 101 (Adobe eReader)
The Complete Idiot's Guide to Mortgages (Adobe eReader)
The Insider's Guide to Home Equity Borrowing (Adobe eReader)
How to Save Thousands of Dollars on Your Home Mortgage (Adobe eReader)
The Mortgage Answer Book (Adobe eReader)
The Mortgage Encyclopedia (Adobe eReader)
The Pocket Mortgage Guide (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Programs of HUD: major mortgage, grant, assistance and regulatory programs, (Washington, D.C.: Housing and Urban Development, 2005). HD 7293 H81p
The New reverse mortgage formula: how to convert home equity into tax-free income, (Hobokern, NJ, : John Wiley & Sons, Inc., 2005). HG 2051 K29
Residential mortgage lending: principles and practices, (Mason, OH: South-Western, 2004).
HG 2051 D42r Ed. 5
The Everything homebuying book: all the ins and outs of making the biggest purchase of your life, (Avon, MA: Adams Media Corporation, 2003). HD 1341 W38e
106 mortgage secrets all homebuyers must learn - but lenders don't tell, (Hoboken NJ, : John Wiley & Sons, Inc., 2003). HG 2051 E12
Mortgage industry buyer's guide, (Mortgage publication group, 2002). HG 4521 N21m
Homebuying without the BS!, (Chicago, IL: Hall Street Press, 2002). HD 1341 T39
The Color of Credit: Mortgage Discrimination, Research Methodology, and Fair-Lending Enforcement, (Cambridge, MA: MIT Press, 2002). HG 2040 R67
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Working with First-Time Homebuyers
Field Guide to Buying vs. Renting
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
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