The Complete Idiots Guide to Success As A Mortgage Broker

Complete idiot's guide to success as a mortgage broker

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Thanks for telling us about the problem. Return to Book Page. Break into the brokerage business. Here is a step-by-step handbook to joining this elite group. Written by an accomplished mortgage broker with more than 15 years in the business and 2, deals to his credit, this book covers everything from whether or not real estate financing is the right career move to how to master the skills necessary to be successful.

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The Complete Idiot's Guide to Success as a Mortgage Broker

Break into the brokerage business. Here is a step-by-step handbook for joining this elite group. Written by an accomplished mortgage broker with more than 15 years in the business and 2, deals to his credit, this book covers everything from whether or not real estate financing is the right career move, to how to master the skills necessary to be successful.

Kahn is the president and owner of Financial Access Corporation, a mortgage brokerage firm.

A career broker for… More about Daniel S. Marian Edelman Borden is the mother of four children and the author of 10 nonfiction books, including Smart Start: The… More about Marian Edelman Borden.

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Kahn and Marian Edelman Borden Category: Inspired by Your Browsing History. Think Smart, Act Smart. Darren Bridger and David Lewis. Let's put the housing market into perspective and see what the experts forecast about this industry.

As Home Ownership Grows, More Mortgages are Needed Less than half of Americans owned their own homes at the start of the 20th century and many homeowners lost their homes during the Great Depression. But post World War II, homeownership rates began to rise dramatically, topping 60 percent by The rate slowly rose during the s and s, but plateaued during the s.

But declining mortgage rates and an expanding economy pushed homeownership throughout the s, reaching a record high by National homeownership surpassed 68 percent in and long-term projections suggest it will exceed 70 percent by While non-Hispanic whites accounted for most of the increase in the number of U. In , "less than half of African-American and Hispanic households owned their homes.

In contrast, over 75 percent of non-Hispanic whites were homeowners.

Income and wealth among minorities are typically lower than that of whites. The homeownership rate for households in the lowest income bracket is less than 50 percent; the rate for those in the top bracket is 90 percent. A higher income widens the choice of homes available for purchase and increases the likelihood that the household will qualify for a mortgage.

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Those with lower incomes find they have fewer choices in a lower price range in locations near their place of employment. In addition, a large number of Hispanics and Asians live in less affordable urban centers on the East and West coasts. Cities usually have higher housing costs, but offer more rental alternatives.

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The National Homeownership Alliance forecasts "a rising homeownership rate [of] at least 10 million additional homeowners by with roughly one half of the gain accruing to minority households. The housing boom of the past decade, as well as the continued growth forecast for the future, is due to many factors. Certainly, it is, in large part, a result of record low mortgage rates.

This helped drive a tremendous increase in home sales and home construction. It's also influenced by a growing number of people, "baby boomers," moving into their peak home owning years. Another important force behind higher homeownership rates is a growing immigrant population. More than one-third of the increase in the U.

Complete Idiot's Guide to Success as a Mortgage Broker

While it takes time for immigrants to move into homeownership, according to the U. Census Bureau, for those who arrived more than 30 years ago, their homeownership rate surpasses the national rate. The Mortgage Industry Expands An American Housing Survey reveals that approximately 15 percent of homes are purchased without a mortgage. More power to those buyers! But for most of us, we're going to need a mortgage when buying a house. Most people understand what a home mortgage is, even if they aren't familiar with the exact details of some of the new lending programs. Educating potential homebuyers is one of the important roles mortgage brokers play.

But there are many other variations of mortgages that brokers also offer.

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