Being new to this endeavor, and not wanting to waste people’s time with fundamental questions, I was wondering if anyone could recommend a good book or website that covers the different types of loan products available today and how they work. Such as, If I found a SFR that was in need of repairs, and I wanted to do them myself, then resell it within a year, what would I look for? Or if I wanted to have a contractor do them? Or it was a multifamily? Or sell it after a year? Different downpayments? And so on…Different products available for different scenarios, basically.
You need to take an applicaiton with a professional licensed loan officer. Your questions should be answered over the phone in an easy 1.2.3. 15 minutes of your time on the phone would save you a ton of money.
This would be for my own benefit of just obtaining knowledge and for reference; not to land a loan for a particular project I had in mind.
I certainly plan on professional consultation when the time comes, though.
here’s some good books:
Mortgages 101: Quick Answers to Over 250 Critical Questions About Your Home Loan (Paperback)
by David Reed
All About Mortgages: Insider Tips to Finance Your Home (Paperback)
by Julie Garton-Good
The Common-Sense Mortgage : How to Cut the Cost of Home Ownership by $50,000 or More (Paperback)
by Peter V Miller
Excellent! Just what I was searching for. Thanks for the recs-