A new and updated edition of the friendly guide packed with "invaluable information, especially for the first-time home buyer." –Fort Worth Star-Telegram With record-low rates and a dicey stock market, many Americans are making their home their primary investment and refinancing at record numbers. Mortgages For Dummies, Second Edition is intended for anyone who needs a loan to buy their first home or wants to refinance while rates are low. Bestselling personal finance authors Eric Tyson and Ray Brown give borrowers step-by-step guidance on getting the best possible deal for their financial situation, showing them how to determine their borrowing power, select the right loan, find the best lender and options, and fill out all the paperwork correctly. They decipher the jargon and point out the fiscal pitfalls all borrowers need to be aware of, and provide all the knowledge they need to succeed in the mortgage process. This updated Second Edition includes new information on credit scores, Internet mortgages, reverse mortgages, and interest-only loans while covering all the recent changes in credit ratings, buyer qualifications, interest rates, and tax implications. Understanding mortgages can save the typical homeowner thousands of dollars over the life of their home. Mortgages For Dummies, Second Edition is a straightforward and comprehensive resource every mortgage shopper should have at hand.