In her new book, Carolyn Warren outlines the mortgage process in ten easy steps.
Step number one is getting the Good Faith Estimate (GFE). That will show your loan amount, interest rate, monthly payment, fees and costs, and other necessary information.
You should never pay for a GFE.
You will want a current GFE, so only get one when you are ready to buy a home.
The next step will be to get preapproved for financing. Then you make an offer on a home. Finalize the deal. Lock in an interest rate and the other details. Get a home inspection. And you’re almost done.
My favorite author on these topics is Carolyn Warren. She’s whip-smart and a good writer.
She has two main books on mortgages:
My favorite way of judging a book I have not read is by looking at its Amazon reviews. Carolyn’s reviews are overwhelmingly five stars. She has the best selling book on mortgages on amazon.
* Homebuyers Beware: Who’s Ripping You Off Now?–What You Must Know About the New Rules of Mortgage and Credit by Carolyn Warren (Oct 25, 2009)