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Book details
  • Genre:BUSINESS & ECONOMICS
  • SubGenre:Real Estate / Mortgages
  • Language:English
  • Pages:300
  • Format:Paperback
  • eBook ISBN:9781543974386
  • Paperback ISBN:9780578209913

Housing Finance 2020

by Anna DeSimone View author's profile page

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Overview

Save 20% on your purchase!

At checkout, use Code 2020E for paperback or Code 2020EE for e-book.  

Housing Finance 2020 is a comprehensive guidebook that explains the industry's newest mortgage programs, and recent enhancements that have been made to boost affordability. Also available in Spanish, the author introduces buying-power options, such as "sweat equity," do-it-yourself renovations, and energy-efficient mortgages.  

The first chapter, "Ten Ways to Cover Your Down Payment," explains zero-percent loans, soft second mortgages, and "forgivable" down payment assistance loans. Readers will learn how to estimate mortgage affordability, and how to compute their qualifying income from self-employment and non-salaried wages based on conventional, FHA, VA and Rural Housing guidelines. 

You'll learn about FHA and private mortgage insurance (PMI), programs requiring zero or minimal cash, and "over the top" mortgages where you can also finance home repairs and closing costs.

Qualifying rules have recently been eased for student loans, alimony, and other debts. Eligible types of income have been expanded, and now include sources such as rent from boarders, health-care aides, and accessory apartments in single-family homes. 

You'll learn all about credit reports, and how to build your own credit profile if you have no credit score or minimal history. Packed with infographics and clear commentary, you'll understand how mortgages work, and how the equity in your home increases over time. 

The 50-state directory lists grants and down payment assistance from local nonprofit and government agencies.You'll also learn what support services are available in the community you hope to call home.  

Description

Contents:

  • Ten ways to cover your down payment
  • Cash-saving opportunities for homebuyers
  • Safe and secure mortgages - consumer protection laws
  • New additions to qualifying income
  • New subtractions from debts
  • Credit scores and reports
  • Qualifying for a mortgage
  • Submitting the loan application 
  • How to navigate housing agency eligibility flash maps
  • Construction and renovation mortgages
  • Energy-efficient mortgages
  • Conventional, FHA, and VA mortgages
  • USDA Rural Housing
  • USDA Self-help - build your own home
  • Manufactured housing
  • HUD's Good Neighbor Next Door program
  • Native American mortgages
  • Reverse mortgages for seniors
About the author

Anna DeSimone is an award-winning author and consultant in housing finance. She has authored more than 40 professional guidebooks and over 600 articles on the topics of fair lending, mortgage best practices, and consumer compliance. She is founder of Bankers Advisory, a mortgage quality control and compliance audit services company.

Visit Anna's blog or view helpful videos on www.annadesimone.net



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