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    The Borrowers Bible
    The Borrowers Bible
    The Borrowers Bible
    Ebook118 pages44 minutes

    The Borrowers Bible

    By Todd Gehrke

    ()

    Read preview

    About this ebook

    Knowledge is power? Not hardly...not on its own anyway. I believe that knowledge plus interpretation plus action equals real power. And, in my twenty plus years of working in the
    mortgage business, I’ve seen over and over how clients can benefit from this combination...often resulting in saving them
    literally hundreds of thousand of dollars. And from my extensive work in national television and media, I’ve seen the massive amount of misinformation that is delivered on a daily
    basis by those who simply do not understand. All too often, raw facts or knowledge are not accompanied by interpretation, nor is a clear course of action devised by a trusted advisor.In this book, Todd Gehrke has drawn upon some of the greatest minds in the industry to provide you with the knowledge—and better yet, the clear interpretation—to really understand what happens behind the scenes of a home loan. How and why do home loan rates change? What really impacts your
    credit score? What are lenders really looking at when they make their approval decision? Does looking back at the history of rates really provide us with a glimpse into the future?
    This book will provide all those answers and more. And to determine your own course of action for a home loan and financial strategy, Todd is one of the leading home loan consultants in the nation. After reading this book, look no further
    to help apply your knowledge and interpretation, and learn the actions you can take today...that may impact your wealth for the rest of your life.
    All the best—
    Barry Habib
    CEO, Mortgage Market Guide

    LanguageEnglish
    PublisherTodd Gehrke
    Release dateJul 14, 2011
    ISBN9781466193260
    The Borrowers Bible
    Author

    Todd Gehrke

    Todd grew up in rice lake Wisconsin. It is a small town of under 10,000 people located in the north western part of the state. It is true that in a small town everyone knows everyone and everyone knows everyone’s business. He kind of likes that. it taught him to be accountable for his actions, that a handshake and his word mean something, and that you don’t earn trust, you prove it over and over again every day, whether someone is watching you or not.His dad was a high school principal (fortunately for him in the next town over!). Discipline and order were a big deal. He knew every teacher in the school intimately. Todd would hunt and fish with them; they would come over and share breakfast at his home before school on occasion. To this day Todd still conducts himself based on the values that he learned from that small town.It snows up there—a lot. from early on Todd decided that he needed to live his life in a way that if anyone saw him in the ditch on the side of the icy road, which happened to everyone at one time or another, they would say, “hey, that’s Todd.” and stop to help, instead of say “hey, that’s Todd.” and drive past.Now Todd has two little girls of his own and he does not live in a small town obviously, but is doing his best to instill those values that Todd has on to them. It is easier to hide in a big town; there are a lot more strangers. Todd would hate for them to grow up and not take ownership for something they should just because they could get away with it because no one noticed. The best way to insure that they do right is by showing them what it looks like—by doing right himself. Todd thinks professional etiquette is not doing the right thing because someone is watching, but doing the right thing when no one is.He spends his days living an outcome based life. He has a successful mortgage business and is always striving for better. He is best known by “living the dream” fitting a full time income into a part time work schedule, which starts with walking his kids to school every morning.

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      Book preview

      The Borrowers Bible - Todd Gehrke

      The Borrower’s Bible

      Todd J. Gehrke

      Copyright© Todd J. Gehrke 2007

      Published by DRAMATRAPOLIS at Smashwords

      ********

      After reading this book, look no further to help apply your knowledge and interpretation, and learn the actions you can take today...that may impact your wealth for the rest of your life.

      All the best -

      Barry Habib

      CEO, Mortgage Market Guide

      This book is a great resource to help answer the must-know questions when acquiring a mortgage.

      Jim McMahan

      Division Vice President, CTX Mortgage Co.

      Anyone considering buying or refinancing a home - or even anyone interested in expanding their learning base - will gain a great deal of value from this down-to-earth, super informative read.

      Sue Woodard

      Vice President, Mortgage Market Guide

      Todd is one of the top mortgage planners nationwide, so it is really no surprise that he would come up with a great book like this. The material digs deep behind the scenes of a home loan, and will help any consumer understand how things really work...and learn how they can use this knowledge for their own best interest. Anyone considering buying or refinancing a home - or even anyone interested in expanding their learning base - will gain a great deal of value from this down-to-earth, super informative read.

      Sue Woodard

      VP Mortgage Market Guide

      I believe education relating to mortgage financing is so critical to today’s consumer. For most, a mortgage is the largest debt a person will incur in their life and the home is the largest asset. This book is a great resource to help answer the must-know questions when acquiring a mortgage.

      Jim McMahan

      Division Vice President

      CTX Mortgage Co.

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to www.toddgehrke.com and purchase your own copy. Thank you for respecting the hard work of this author.

      The Borrower’s Bible

      Written by:

      Todd J. Gehrke

      The Borrower’s Bible

      Published by DRAMATRAPOLIS

      Copyright© 2007 by Todd J. Gehrke

      All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the written prior permission of the author.

      Contact the author at:

      DRAMATRAPOLIS

      Colorado

      www.toddgehrke.com

      ISBN: 978-1-4661-9326-0

      TABLE OF CONTENTS

      FOREWORD

      CHAPTER 1: KEY COMPONENTS OF A MORTGAGE

      CHAPTER 2: UNDERSTANDING CREDIT

      CHAPTER 3: PAYMENT HISTORY

      CHAPTER 4: AMOUNTS OWED

      CHAPTER 5: LENGTH OF CREDIT HISTORY

      CHAPTER 6: TYPES OF CREDIT USED

      CHAPTER 7: NEW CREDIT

      CHAPTER 8: DEBT TO INCOME

      CHAPTER 9: LOAN TO VALUE

      CHAPTER 10: MORTGAGE INSURANCE

      CHAPTER 11: INTEREST-ONLY OPTION

      CHAPTER 12: DETERMINING YOUR HIGHEST COST DEBT

      CHAPTER 13: UNDERSTANDING RATES

      CHAPTER 14: WHAT ARE BONDS?

      CHAPTER 15: INFLATION

      CHAPTER 16: PRICE, RATE AND YIELD

      CHAPTER 17: THE FED FUNDS RATE

      CHAPTER 18: LOCKING YOUR MORTGAGE

      CHAPTER 19: PRICING LOCKS, 15, 30 60 DAYS

      CHAPTER 20: TRACKING BONDS TO DETERMINE RATES

      CHAPTER 21: THE BATTLE OF THE BONDS

      CHAPTER 22: FUNDAMENTAL INFORMATION

      CHAPTER 23: MORTGAGE RATE HISTORY

      CHAPTER 24: WHERE ARE RATES GOING?

      CHAPTER 25: MORTGAGE COSTS

      CHAPTER 26: JUMBO VS. CONFORMING

      AFTERWORD

      INTRODUCTION

      Knowledge is power? Not hardly...not on its own anyways. I believe that knowledge plus interpretation plus action equals real power. And in my twenty plus years of working in the mortgage business, I've seen over and over how clients could benefit from this combination...often resulting in saving them literally hundreds of thousands of dollars. And from my extensive work in national television and media, I've seen the massive amount of misinformation that is delivered on a daily basis, by those who simply do not understand. All too often, raw facts or knowledge are not accompanied by interpretation, nor is a clear course of action devised by a trusted advisor.

      In this book, Todd Gehrke has drawn upon some of the greatest minds in the industry to provide you with the knowledge - and better yet, the clear interpretation - to really understand what happens behind the scenes of a home loan. How and why do

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