1. Specialty mortgages offer lower initial monthly payments but come with greater risks than traditional fixed-rate or adjustable-rate mortgages.
2. The payments on specialty mortgages may increase substantially, by as much as 50%, once an introductory period ends which could lead to "payment shock" if income does not increase enough.
3. Some specialty mortgages like interest-only or negative amortization loans may cause the total amount owed to increase over time rather than decrease.
On January 24, members of Freestar Financial attended a Mortgage Mixer Event. The Vice President of Lending, Jennifer Martines and Realtor, Peter Toering presented the importance of having a good credit score and the documentation you will need in order to start a mortgage application.
On January 24, members of Freestar Financial attended a Mortgage Mixer Event. The Vice President of Lending, Jennifer Martines and Realtor, Peter Toering presented the importance of having a good credit score and the documentation you will need in order to start a mortgage application.
Home loan-overview,-advice,-myths-&-factsagil ahemedabad
Choosing an appropriate property is crucial, but so is securing the ideal mortgage. In today's world, purchasing a home without taking out a loan is nearly difficult. Obtaining a home loan is not difficult, but becoming familiar with loans and understanding the entire process can be difficult.
To know things in detail, you can reach out to us at: https://agil.co.in/
Availing a home loan is one of the most important financial decisions of any individual’s life. So being sure about all the aspects of it is very necessary before going for a home loan. Being informed and aware of all the important aspects not only gets you the best deal available but also saves from the shocks and surprises later on as well.
For Home Loan: https://financebuddha.com/home-loan
Home improvement loans can be taken by any individual subject to certain eligibility criteria. These loans are given for the sole purpose of renovating the individual's property.
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Oeiras Tech City, Developed by RE Capital and REIG, Will Become Lisbon's Futu...Newman George Leech
Oeiras Tech City, a historic development in the Oeiras municipality of Lisbon, is acquired by RE Capital and REIG. It is located on a 93,000-square-meter plot of land and combines co-living, business, and residential areas. It highlights ESG principles and is close to Tagus Park, which improves the urban landscape of Lisbon.
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...JagadishKR1
Immerse yourself in the epitome of luxury living at Urbanrise Paradise on Earth. These opulent 4 BHK villas, nestled off the prestigious Kanakapura Road in Bangalore, redefine elegance and sophistication. With meticulous craftsmanship, breathtaking design, and unparalleled amenities, Urbanrise Paradise on Earth offers a sanctuary where every moment is infused with luxury and serenity. Experience a life of grandeur and indulgence at this exclusive residential enclave.
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Avrupa Konutlari Yenimahalle - Listing TurkeyListing Turkey
Welcome to Avrupa Konutları Yenimahalle, where luxury living meets unparalleled convenience in the heart of Istanbul. Developed by Artaş Holding, one of Turkey’s leading construction companies, this prestigious residential project offers a contemporary lifestyle experience like no other.
https://listingturkey.com/property/avrupa-konutlari-yenimahalle/
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
1. WHEN YOU SHOP FOR A MORTGAGE,
“DO YOUR HOMEWORK”
A SPECIALTY MORTGAGE?
Specialty mortgages are designed for homebuyers in special circumstances. The lower
initial monthly payments may make sense for buyers who intend to own a home for a
short time or who can handle high payments in the future. If you are a homebuyer who
plans to be in your home for years, or who does not expect a significant increase in
income by the time the monthly payments go up, you should very carefully consider the
risks and advantages of a specialty mortgage.
QUESTIONS TO CONSIDER BEFORE CHOOSING A SPECIALTY
MORTGAGE
• How much can my monthly payments increase and how soon can these increases
happen?
• Do I expect my income to increase or do I expect to move before my payments go
up?
• Will I be able to afford the mortgage when the payments increase?
• Am I paying down my loan balance each month, or is it staying the same or even
increasing?
• Will I have to pay a penalty if I refinance my mortgage or sell my house?
• What is my goal in buying this property? Am I considering a riskier mortgage to buy a
more expensive house than I can realistically afford? Be sure you work with a REALTOR®
and lender who are willing to discuss different options and address your questions and
concerns!
Specialty Mortgages Can—
• Pose a greater risk that you won’t be able to afford the mortgage payment in the
future, compared to fixed rate mortgages and traditional adjustable rate mortgages.
• Have monthly payments that can increase by as much as 50% or more when the
introductory period ends.
• Cause your loan balance (the amount you still owe) to get larger each month instead
of smaller.
UNDERSTANDING SPECIALTY MORTGAGES
In many housing markets, home prices have risen to very high levels, making it harder to
afford a home—especially for first-time homebuyers. The traditional fixed-rate mortgage
and standard adjustable-rate mortgage may not be the best options for everyone. A
growing number of homebuyers are deciding to use one of several new types of
specialty mortgages that let them “stretch” their income so they can qualify for a larger
loan. But before you choose one of these mortgages, make sure you understand their
risks and how they work. Specialty mortgages often begin with a low introductory
interest rate or payment plan—a “teaser”—but the monthly mortgage payments are
likely to increase a lot in the future. Some are “low documentation” mortgages that
come with easier standards for qualifying, but also higher interest rates or higher fees.
Some lenders will lend you 100% or more of the home’s value, but these mortgages also
present a big financial risk if the value of the house goes down. It’s in your best interest to
learn the “ins and outs” of these packages before deciding if the loan you’re considering
is right for you. Specialty Mortgages Can—
• Pose a greater risk that you won’t be able to afford the mortgage payment in the
future, compared to fixed rate mortgages and traditional adjustable rate mortgages.
2. WHEN YOU SHOP FOR A MORTGAGE,
“DO YOUR HOMEWORK”
• Have monthly payments that can increase by as much as 50% or more when the
introductory period ends.
• Cause your loan balance (the amount you still owe) to get larger each month instead
of smaller.
COMMON TYPES OF SPECIALTY MORTGAGES
Today, when you apply for a loan, you have more choices than ever before. Here are a
few examples:
Interest-Only Mortgages: Your monthly mortgage payment only covers the interest you
owe on the loan for the first 5 to 10 years of the loan, and you pay nothing to reduce the
total amount you borrowed (this is called the “principal”). After the interest-only period,
you start paying higher monthly payments that cover both the interest and principal that
must be repaid over the remaining term of the loan.
Negative Amortization Mortgages: Your monthly payment is less than the amount of
interest you owe
on the loan. The unpaid interest gets added to the loan’s principal amount, causing the
total amount you we to increase each month instead of getting smaller.
Option Payment ARM Mortgages: You have the option to make different types of
monthly payments with this mortgage. For example, you may make—
• A minimum payment that is less than the amount needed to cover the interest and
increases the total amount of your loan,
• An interest-only payment, or
• Payments calculated to pay off the loan over either 30 years or 15 years.
40-Year Mortgages: You pay off your loan over 40 years, instead of the usual 30 years.
While this reduces your monthly payment and helps you qualify to buy a home, you pay
off the balance of your loan much more slowly and pay much more interest. This is only a
short list of specialty mortgages. Today’s marketplace includes many variations on these
types.
HELPFUL STEPS TO TAKE BEFORE FINANCING A HOME
• Check your credit status. As of September 2005 (or earlier, depending on where you
live), you have the right to receive a free credit report once a year from each of the 3
major credit bureaus—Equifax, Experian and TransUnion. For completeness, it is best to
review reports from each one of them. Contact information is included under “Additional
Resources.”
• Work with your REALTOR® and lender to determine how much you can afford to pay
for a home.
• Ask your lender for your credit score. This score, which is calculated based on your
credit history and other factors, determines how lenders view your creditworthiness and
determine the loan terms to offer. Scoring rules vary widely, but generally a score of 650
or higher means that you qualify for the most favorable loan terms.
• Shop around. Different lenders charge different rates and fees and have different
options. Be sure to compare to get the best deal. Your REALTOR® can recommend
reliable lenders.
• Be sure you understand the risks of your mortgage and know whether you can handle
possible payment increases.
3. WHEN YOU SHOP FOR A MORTGAGE,
“DO YOUR HOMEWORK”
WHAT ARE THE MAJOR RISKS OF SPECIALTY MORTGAGES?
1. Payment Shock. One major risk is that your monthly payment may increase by a large
amount, resulting in “payment shock.” Even a change of 1% or 2% in interest rates can
result in a very big jump in your monthly mortgage payment. For example, if the interest
rate on your mortgage changes from 4% to 6%, your monthly payment could rise by as
much as 50% (from $1,000 to $1,500). If your income has not increased enough, you may
not be able to afford the new larger monthly mortgage payment. And if that happens,
you could lose your home. Example: How Payment Shock Can Occur Assume you buy a
home for $300,000, put 10% down, and choose a 5.75% interest-only adjustable rate
mortgage. The mortgage requires interest-only payments for 5 years. After that, the
interest adjusts every year based on rates in effect at that point.
• Initial monthly payment: $1,294.
• Monthly payment after 5 years with no increase in mortgage interest rates (amount
increases because payments begin to include principal in addition to interest): $1,699.
• Monthly payment after 5 years with a 3% increase in interest rate to 8.75%: $2,220.
2. Higher Debt Over Time. Another risk that comes with specialty mortgages involves your
“equity”—the amount your house is worth after you subtract the amount you still owe to
the lender. Consumers who choose some types of specialty mortgages will build equity in
their home much more slowly than with traditional loans. In fact, with some specialty
mortgages, the amount you owe on your home could increase rather than decrease
over time.
• INTEREST-ONLY MORTGAGES
• NEGATIVE AMORTIZATION MORTGAGES
• PAYMENT OPTION ARM MORTGAGES
• 40-YEAR MORTGAGES
4. WHEN YOU SHOP FOR A MORTGAGE,
“DO YOUR HOMEWORK”
ADDITIONAL RESOURCES
The National Association of REALTORS®:
For information on NAR’s Housing Opportunity Program,
go to www.REALTORS.org/housingopportunity.
The Center for Responsible Lending:
For information about predatory mortgage lending
practices, including “The Seven Signs of Predatory
Lending,” go to www.responsiblelending.org.
Fannie Mae:
Look for the section “For Home Buyers & Homeowners”
at www.FannieMae.com.
Freddie Mac:
Look for the section on “Buying and Owning a Home”
at www.FreddieMac.com.
Ginnie Mae:
For a simple calculator to help homebuyers estimate how
much they can afford to spend, read “How Much Home
Can You Afford?” at www.GinnieMae.gov.
HUD Housing Counselors:
For a list of counseling agencies, by state, approved by the
Department of Housing and Urban Development (HUD),
go to www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm.
“Looking for the Best Mortgage” is a brochure on how
to shop, compare, and negotiate the best deal on a home
loan. The brochure is a joint effort of 11 federal agencies,
including the Federal Trade Commission (FTC), the Federal
Reserve Board, HUD, and the Department of Justice.
www.federalreserve.gov/pubs/mortgage/mortb_1.htm
National Credit-Reporting Agencies:
5. WHEN YOU SHOP FOR A MORTGAGE,
“DO YOUR HOMEWORK”
• Equifax 800.685.1111 www.equifax.com.
• Experian 888.397.3742 www.experian.com.
• TransUnion 800.916.8800 www.transunion.com.
Go to www.annualcreditreport.com to ask for a free copy
of your credit report, once a year, or call 877.322.8228.
See, also, www.FTC.gov.
Specialty Mortgages: