DAVID REED has two decades of experience in the mortgage industry as a Senior Loan Officer and Underwriter. He is a regular contributor to Realty Times and the author of several popular books on real estate.

Buying a home is a huge decision—and so is finding the right mortgage. (No, they’re not all the same.) Whether you’re purchasing your first home, or contemplating a new one, you must understand today’s complicated mortgage environment . . . so you can choose the best loan for you.

Mortgages 101 is the classic guide to everything you need to know — and now it’s completely updated to reflect the sweeping changes in recent years. This easy reference covers the entire mortgage process—everything from how much home you can afford to how to save big on your closing costs.

Written in a simple question-and-answer format, this revised third edition provides the latest information on: Application procedures • Online lenders • Down payment assistance, zero-down options, and new programs such as HomeReady • Qualifying requirements • Ways to lower your debt ratio • Credit scores: FICO, Vantage, and the “hidden” ones • Credit strategies (even if your credit scores are low) • Guidelines for self-employed borrowers • Bankruptcies and waiting periods • Refinancing and home equity loans • Consumer Financial Protection Bureau rules • The new Ability-to-Repay mandate • And much more.

The mortgage landscape has gotten safer, but it’s also more complex. Let Mortgages 101 guide you to the perfect loan for you. Then enjoy your new home.

Praise for the previous edition of Mortgages 101:

“Covers just about every issue that can come up, from how much to put down to the various types of mortgages available. Perhaps the best thing Mr. Reed does is explain, simply, how banks determine your creditworthiness.” — The New York Times

“With consumer-friendly language and an easygoing tone, Reed answers over 250 common, yet critical borrower questions.” — Mortgage Originator

“The advice in Mortgages 101 is unvarnished and to the point. Reed takes a dry subject and makes literally years of hard-gained knowledge digestible and usable.” — Realty Times

“[Reed’s] lucid explanations translate confusing mortgage industry jargon into plain English for the nonfinancial reader. . . . no-nonsense tone.” — Financial Planning

David Reed has two decades of experience in the mortgage industry as a Senior Loan Officer and Underwriter. He is a regular contributor to Realty Times and the author of several popular books on real estate.