What is the penalty to break my mortgage if I want to Upgrade, Refinance, or Sell?
What are my Prepayment Privileges?
Is my mortgage PORTABLE?
These and other questions are answered in this presentation.
The Close With Erick Team pledges to guide homeowners through the entire mortgage process. They promise to provide accurate mortgage advice, maintain communication throughout, offer an aggressive rate-locking strategy, ensure an on-time closing, educate homeowners on the process, disclose accurate closing costs, and be available to answer questions.
This document summarizes the risks of specialty mortgages that allow home buyers to qualify for larger loans. Specialty mortgages often have low introductory rates but payments are likely to increase significantly in the future by as much as 50%. These include interest-only, negative amortization, and option payment ARM mortgages. The document cautions that specialty mortgages pose greater risks of being unable to afford payments long-term and the loan balance increasing instead of decreasing each month. It advises buyers to understand how much payments can rise, if their income will increase to cover future costs, and ensure goals align with risks before choosing a specialty mortgage.
HomePath is a Fannie Mae program that offers benefits to home buyers, including no mortgage insurance or appraisal costs. Through HomePath, buyers can find a variety of property types across the country, including condos, single family homes, and small multi-unit buildings. The program provides flexible financing options like fixed-rate and adjustable-rate mortgages. Buyers may qualify with less-than-perfect credit and as little as 10% down for investment or second homes. Maximum loan amounts and other restrictions apply.
We borrow private money to fund our real estate transactions. Your money is secured by the real estate, mortgage/deed of trust, low loan-to-value (LTV), title insurance, and named as additional insured on the hazard policy.
This document is from a direct lender for residential mortgages. It lists over 20 common questions homeowners and homebuyers have about mortgages, home equity, and refinancing. It emphasizes that buying a home is the single greatest purchase one will make and demands the fullest attention. It encourages the reader to call for a free consultation to get answers to their mortgage-related questions and become a more educated consumer.
This document compares the costs of renting versus buying a home over various time periods. It presents a table showing the total amount spent on rent for different monthly rates from 5 to 30 years. It notes that the rent paid adds up to a sizable sum that provides no long-term assets, while a home purchase allows deductions for interest, potential equity growth, and more control over the property without landlord approval. Contact information is provided for more information.
This document discusses a family protection needs analysis that considers loans, income, final expenses, and education. It analyzes different types of loans an individual may have including mortgages, car loans, credit cards, and student loans. Income replacement is discussed in terms of replacing a salary for a number of years. Final expenses include average funeral costs of $12,000-$18,000. Education allows for future education costs. The document also compares term and permanent life insurance, noting that permanent insurance has higher premiums but also higher maximum amounts, never expires, and builds cash value over time, while term insurance is lower cost but expires after a specified period.
- The document discusses the impact of government policies like Help to Buy on the UK housing market.
- It notes that prior to these policies, obtaining a mortgage was difficult due to high deposit requirements and restricted lending, slowing the housing market.
- Help to Buy has led to increased house purchases, building rates, and more positive attitudes from builders, helping to restart the housing industry. However, some concerns exist around the program's sustainability and potential to inflate house prices.
The Close With Erick Team pledges to guide homeowners through the entire mortgage process. They promise to provide accurate mortgage advice, maintain communication throughout, offer an aggressive rate-locking strategy, ensure an on-time closing, educate homeowners on the process, disclose accurate closing costs, and be available to answer questions.
This document summarizes the risks of specialty mortgages that allow home buyers to qualify for larger loans. Specialty mortgages often have low introductory rates but payments are likely to increase significantly in the future by as much as 50%. These include interest-only, negative amortization, and option payment ARM mortgages. The document cautions that specialty mortgages pose greater risks of being unable to afford payments long-term and the loan balance increasing instead of decreasing each month. It advises buyers to understand how much payments can rise, if their income will increase to cover future costs, and ensure goals align with risks before choosing a specialty mortgage.
HomePath is a Fannie Mae program that offers benefits to home buyers, including no mortgage insurance or appraisal costs. Through HomePath, buyers can find a variety of property types across the country, including condos, single family homes, and small multi-unit buildings. The program provides flexible financing options like fixed-rate and adjustable-rate mortgages. Buyers may qualify with less-than-perfect credit and as little as 10% down for investment or second homes. Maximum loan amounts and other restrictions apply.
We borrow private money to fund our real estate transactions. Your money is secured by the real estate, mortgage/deed of trust, low loan-to-value (LTV), title insurance, and named as additional insured on the hazard policy.
This document is from a direct lender for residential mortgages. It lists over 20 common questions homeowners and homebuyers have about mortgages, home equity, and refinancing. It emphasizes that buying a home is the single greatest purchase one will make and demands the fullest attention. It encourages the reader to call for a free consultation to get answers to their mortgage-related questions and become a more educated consumer.
This document compares the costs of renting versus buying a home over various time periods. It presents a table showing the total amount spent on rent for different monthly rates from 5 to 30 years. It notes that the rent paid adds up to a sizable sum that provides no long-term assets, while a home purchase allows deductions for interest, potential equity growth, and more control over the property without landlord approval. Contact information is provided for more information.
This document discusses a family protection needs analysis that considers loans, income, final expenses, and education. It analyzes different types of loans an individual may have including mortgages, car loans, credit cards, and student loans. Income replacement is discussed in terms of replacing a salary for a number of years. Final expenses include average funeral costs of $12,000-$18,000. Education allows for future education costs. The document also compares term and permanent life insurance, noting that permanent insurance has higher premiums but also higher maximum amounts, never expires, and builds cash value over time, while term insurance is lower cost but expires after a specified period.
- The document discusses the impact of government policies like Help to Buy on the UK housing market.
- It notes that prior to these policies, obtaining a mortgage was difficult due to high deposit requirements and restricted lending, slowing the housing market.
- Help to Buy has led to increased house purchases, building rates, and more positive attitudes from builders, helping to restart the housing industry. However, some concerns exist around the program's sustainability and potential to inflate house prices.
How You Can create a Passive, Full-Time Income in 90 Days or Less by Investin...NoteSchool
How You Can create a Passive, Full-Time Income in 90 Days or Less by Investing in Real Estate Notes
http://noteschool.com
http://facebook.com/noteschool
Buying a home has several advantages over renting according to the document. It allows for creative freedom to remodel and decorate as desired. It offers investment potential through home appreciation which can outpace other investments. There are also tax benefits like deducting mortgage interest and property taxes which can make ownership more affordable than renting. In addition, mortgage payments remain fixed unlike rent which can increase, and homeownership acts as forced savings by building equity over time rather than benefiting landlords.
Owning vs. Renting a Home - It's a Money Thing Tim McAlpine
It’s a Money Thing is a collection of effective and affordable financial education content designed to engage and teach young adults while setting your credit union apart. These presentations and other elements are all customizable with your credit union's logo. Check out Currency Marketing at currencymarketing.ca/money-thing for more information.
This document contains information about Only Way Realty, a real estate agency located in Tabor City, North Carolina led by broker Kip Nance. It provides their contact information and lists 10 questions homeowners should ask their lender to better understand the terms of their mortgage, including questions about popular mortgage plans, rates, fees, private mortgage insurance, loan servicing, escrow requirements, and prepayment penalties.
This document compares the pros and cons of renting versus buying a home. Some key points discussed include:
- Renting provides mobility and avoids large down payment costs, but rent payments do not build equity over time. Rent is also subject to increases.
- Buying a home allows building equity over time and provides tax benefits, but the homeowner bears costs for maintenance and repairs. Property taxes and homeowner's insurance are also expenses.
- When considering buying, factors like income, credit score, debt-to-income ratio, plans to stay in the area long-term, and ability to pay upfront costs like down payments and closing fees must be evaluated to determine financial readiness. Advice is provided
The document discusses 5 benefits of homeownership:
1) Building equity over time as the home appreciates in value, unlike rent payments.
2) Stronger relationships with neighbors who typically stay longer than renters.
3) Payment predictability with a fixed-rate mortgage versus rising payments of adjustable rates.
4) Ability to customize and renovate the home as the owner versus renter restrictions.
5) Currently favorable market conditions for buyers with low interest rates and home prices.
Log Book Loans UK offers loans secured against cars, where the car is used as collateral. These loans allow borrowers to access cash quickly with minimal documentation needed and the funds can be used for any purpose. Even borrowers with financial issues like IVA, CCJ, arrears, or bankruptcy can qualify by providing a car as collateral. Potential borrowers simply need to contact Log Book Loans UK online to fill out a form, show their car, and the loan amount will depend on the value of the car provided.
This document provides an overview of mortgage qualification for both employed and self-employed individuals. It discusses the documentation needed such as tax returns, pay stubs, and bank statements. For self-employed borrowers, additional documents like financial statements or business licenses may be required. It also covers using "stated income" for mortgage qualification when income cannot be fully verified. Stated income allows borrowers to state a reasonable income amount and qualify with lower documentation. The guidelines for various mortgage insurers on their stated income programs are provided, including credit score and debt ratio requirements as well as interest rate premiums.
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.
All the information you need to help you buy or sell a rent roll from due diligence to methods of appraising, contract clauses to the all important post transition.
How to Turn Unqualified Homebuyers into Qualified OnesTroy Ross
You can help unqualified buyers buy a home. Past credit issues are no longer a blockade for buyers! Take a look at our presentation to learn how they too can get qualified to buy a home in as little as 4 to 6 months. This presentation is presented by the Richmond REIA.
Opes Advisors provides personal finance advising to address clients' concerns about home buying affordability, expenses, and long-term financial planning. They consider factors like current and future expenses, ability to save for retirement, career changes, education costs, investment risk levels, and potential home renovations. In contrast, lenders primarily evaluate credit, income, debt, down payment size, assets, and ability to repay loans. Opes Advisors aims to give holistic advice that considers both typical lender factors and clients' unique financial priorities and goals.
The document provides information for home buyers, including contact information for real estate agents David and Sharon Kipp. It outlines services the agents provide, such as showing homes, making offers, and negotiating on behalf of buyers. It also includes forms for buyers to provide their home preferences and financial information. Resources are listed for professionals involved in the buying process like mortgage lenders, home inspectors, and insurance agents. The document aims to educate buyers and guide them through selecting a home with the help of David and Sharon Kipp as their buying agents.
1) A reverse mortgage allows homeowners aged 62 and older to access equity in their home through a loan while continuing to live in their home. They do not have to make monthly mortgage payments but interest still accrues.
2) There are two main types of reverse mortgages offered by MetLife Bank - a HECM Standard, which provides the maximum amount available but higher upfront costs, and a HECM Saver with lower upfront costs but a smaller maximum loan amount.
3) The loan does not need to be repaid until the last surviving homeowner permanently moves out or passes away, as long as all terms are met. Counseling is required to ensure borrowers understand the implications of a
OVERCOMING THE CHALLENGES OF INCOME QUALIFYINGGeoff Lee
This document discusses how self-employed or business owners can qualify for a mortgage when their income may be inconsistent or difficult to verify. It outlines the documentation needed such as tax returns, bank statements, and business documents. It also explains how stated income can be used to qualify through mortgage insurance if traditional income verification does not work, noting the guidelines around credit history, down payment amount, and insurance premiums that would apply. The document provides examples of mortgage insurance premiums for different loan-to-value ratios and property types.
This document advertises an upcoming real estate investing seminar. It promotes the featured speakers Joe Corno and Cami Davis and their experience in real estate investing. The seminar will provide training on formulas and strategies for finding, acquiring, rehabilitating, and profiting from real estate deals. Attendees of the seminar will receive 3 months of email/phone support. The seminar takes place on November 12, 2011 in Atascocita, Texas from 10:45am to 4:45pm.
The document provides information on how to get bank approval for investment property financing by focusing on debt servicing. It discusses factors that affect debt servicing calculations like income, expenses, existing property ownership, down payments, and amortization periods. It emphasizes building a team of experts and understanding lender guidelines to structure financing that works with a borrower's long term investment goals. Contact information is provided for Geoff Lee who can help navigate investment property financing.
The document provides steps for buying a home with the help of a real estate agent. It begins with an introduction to the agent, Peggy Warren, and her qualifications. It then outlines the 7 steps to buying a home: 1) consultation, 2) loan pre-approval, 3) home search, 4) viewing homes, 5) pricing strategy, 6) making an offer, and 7) closing. The document provides guidance and tips for home buyers on each step of the process.
This document provides frequently asked questions about Advanced Equity Solutions LLC, a company that helps homeowners facing foreclosure or bankruptcy. It states that foreclosures and bankruptcies can remain on a credit report for 7 to 10 years. The foreclosure process through AES typically takes 2-6 weeks. The company claims to have experienced professionals with compassion who can negotiate to purchase a home before foreclosure through their 3-step pre-foreclosure sales process, helping homeowners get their finances back on track.
How You Can create a Passive, Full-Time Income in 90 Days or Less by Investin...NoteSchool
How You Can create a Passive, Full-Time Income in 90 Days or Less by Investing in Real Estate Notes
http://noteschool.com
http://facebook.com/noteschool
Buying a home has several advantages over renting according to the document. It allows for creative freedom to remodel and decorate as desired. It offers investment potential through home appreciation which can outpace other investments. There are also tax benefits like deducting mortgage interest and property taxes which can make ownership more affordable than renting. In addition, mortgage payments remain fixed unlike rent which can increase, and homeownership acts as forced savings by building equity over time rather than benefiting landlords.
Owning vs. Renting a Home - It's a Money Thing Tim McAlpine
It’s a Money Thing is a collection of effective and affordable financial education content designed to engage and teach young adults while setting your credit union apart. These presentations and other elements are all customizable with your credit union's logo. Check out Currency Marketing at currencymarketing.ca/money-thing for more information.
This document contains information about Only Way Realty, a real estate agency located in Tabor City, North Carolina led by broker Kip Nance. It provides their contact information and lists 10 questions homeowners should ask their lender to better understand the terms of their mortgage, including questions about popular mortgage plans, rates, fees, private mortgage insurance, loan servicing, escrow requirements, and prepayment penalties.
This document compares the pros and cons of renting versus buying a home. Some key points discussed include:
- Renting provides mobility and avoids large down payment costs, but rent payments do not build equity over time. Rent is also subject to increases.
- Buying a home allows building equity over time and provides tax benefits, but the homeowner bears costs for maintenance and repairs. Property taxes and homeowner's insurance are also expenses.
- When considering buying, factors like income, credit score, debt-to-income ratio, plans to stay in the area long-term, and ability to pay upfront costs like down payments and closing fees must be evaluated to determine financial readiness. Advice is provided
The document discusses 5 benefits of homeownership:
1) Building equity over time as the home appreciates in value, unlike rent payments.
2) Stronger relationships with neighbors who typically stay longer than renters.
3) Payment predictability with a fixed-rate mortgage versus rising payments of adjustable rates.
4) Ability to customize and renovate the home as the owner versus renter restrictions.
5) Currently favorable market conditions for buyers with low interest rates and home prices.
Log Book Loans UK offers loans secured against cars, where the car is used as collateral. These loans allow borrowers to access cash quickly with minimal documentation needed and the funds can be used for any purpose. Even borrowers with financial issues like IVA, CCJ, arrears, or bankruptcy can qualify by providing a car as collateral. Potential borrowers simply need to contact Log Book Loans UK online to fill out a form, show their car, and the loan amount will depend on the value of the car provided.
This document provides an overview of mortgage qualification for both employed and self-employed individuals. It discusses the documentation needed such as tax returns, pay stubs, and bank statements. For self-employed borrowers, additional documents like financial statements or business licenses may be required. It also covers using "stated income" for mortgage qualification when income cannot be fully verified. Stated income allows borrowers to state a reasonable income amount and qualify with lower documentation. The guidelines for various mortgage insurers on their stated income programs are provided, including credit score and debt ratio requirements as well as interest rate premiums.
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.
All the information you need to help you buy or sell a rent roll from due diligence to methods of appraising, contract clauses to the all important post transition.
How to Turn Unqualified Homebuyers into Qualified OnesTroy Ross
You can help unqualified buyers buy a home. Past credit issues are no longer a blockade for buyers! Take a look at our presentation to learn how they too can get qualified to buy a home in as little as 4 to 6 months. This presentation is presented by the Richmond REIA.
Opes Advisors provides personal finance advising to address clients' concerns about home buying affordability, expenses, and long-term financial planning. They consider factors like current and future expenses, ability to save for retirement, career changes, education costs, investment risk levels, and potential home renovations. In contrast, lenders primarily evaluate credit, income, debt, down payment size, assets, and ability to repay loans. Opes Advisors aims to give holistic advice that considers both typical lender factors and clients' unique financial priorities and goals.
The document provides information for home buyers, including contact information for real estate agents David and Sharon Kipp. It outlines services the agents provide, such as showing homes, making offers, and negotiating on behalf of buyers. It also includes forms for buyers to provide their home preferences and financial information. Resources are listed for professionals involved in the buying process like mortgage lenders, home inspectors, and insurance agents. The document aims to educate buyers and guide them through selecting a home with the help of David and Sharon Kipp as their buying agents.
1) A reverse mortgage allows homeowners aged 62 and older to access equity in their home through a loan while continuing to live in their home. They do not have to make monthly mortgage payments but interest still accrues.
2) There are two main types of reverse mortgages offered by MetLife Bank - a HECM Standard, which provides the maximum amount available but higher upfront costs, and a HECM Saver with lower upfront costs but a smaller maximum loan amount.
3) The loan does not need to be repaid until the last surviving homeowner permanently moves out or passes away, as long as all terms are met. Counseling is required to ensure borrowers understand the implications of a
OVERCOMING THE CHALLENGES OF INCOME QUALIFYINGGeoff Lee
This document discusses how self-employed or business owners can qualify for a mortgage when their income may be inconsistent or difficult to verify. It outlines the documentation needed such as tax returns, bank statements, and business documents. It also explains how stated income can be used to qualify through mortgage insurance if traditional income verification does not work, noting the guidelines around credit history, down payment amount, and insurance premiums that would apply. The document provides examples of mortgage insurance premiums for different loan-to-value ratios and property types.
This document advertises an upcoming real estate investing seminar. It promotes the featured speakers Joe Corno and Cami Davis and their experience in real estate investing. The seminar will provide training on formulas and strategies for finding, acquiring, rehabilitating, and profiting from real estate deals. Attendees of the seminar will receive 3 months of email/phone support. The seminar takes place on November 12, 2011 in Atascocita, Texas from 10:45am to 4:45pm.
The document provides information on how to get bank approval for investment property financing by focusing on debt servicing. It discusses factors that affect debt servicing calculations like income, expenses, existing property ownership, down payments, and amortization periods. It emphasizes building a team of experts and understanding lender guidelines to structure financing that works with a borrower's long term investment goals. Contact information is provided for Geoff Lee who can help navigate investment property financing.
The document provides steps for buying a home with the help of a real estate agent. It begins with an introduction to the agent, Peggy Warren, and her qualifications. It then outlines the 7 steps to buying a home: 1) consultation, 2) loan pre-approval, 3) home search, 4) viewing homes, 5) pricing strategy, 6) making an offer, and 7) closing. The document provides guidance and tips for home buyers on each step of the process.
This document provides frequently asked questions about Advanced Equity Solutions LLC, a company that helps homeowners facing foreclosure or bankruptcy. It states that foreclosures and bankruptcies can remain on a credit report for 7 to 10 years. The foreclosure process through AES typically takes 2-6 weeks. The company claims to have experienced professionals with compassion who can negotiate to purchase a home before foreclosure through their 3-step pre-foreclosure sales process, helping homeowners get their finances back on track.
Founded in 2008 by an ex-NFL player, Movement Mortgage aims to make the lending process faster. Its vision is to close a fully processed loan within 10 days and originate 10% of all loans by 2025, while giving back to communities.
Movement Mortgage uses upfront underwriting, approving over 73% of loans within 7 days. Upfront underwriting takes the guesswork out of the process by providing full approvals upfront to reassure realtors, buyers, and sellers.
While costly, upfront underwriting increases the chances of closing loans by vetting borrowers before deals close. In contrast, most lenders only qualify borrowers after deals are finalized to avoid spending
First Time Home Buyer Guide (NC and SC edition)Terry McDonald
This document provides guidance for first-time home buyers on getting started with the home buying process. It covers determining if you are ready to buy, assessing what you can afford, finding trusted real estate partners like a buyer's agent, and how to conduct an effective home search. The key steps outlined are understanding renting vs buying, getting your finances and credit in order, deciding on the type of home and location that fits your needs and budget, and then leveraging real estate professionals to view suitable properties and make a competitive offer.
This document summarizes a home buying class presented by Joseph "Butch" Wahlsmith. The class covers local real estate trends, the home buying process, financing a home, and the closing process. It provides an overview of each topic and highlights key points like how to get pre-approved for a mortgage, tips for winning a bidding war, and the typical steps in the closing process. The class aims to educate home buyers on navigating the purchase process from start to finish.
Private lending offers secured, hassle-free investments with superior yields. Investors can earn 12-15% interest by lending money to purchase and renovate residential properties, secured by mortgages. The company buys discounted homes, renovates them, then sells for a profit, paying back investors their principal plus accrued interest. This provides a stable, hands-free alternative to stocks with double-digit returns and protection of principal through property equity.
Our Steps to Success Buyer Presentation is about educating your buyer clients right from the beginning. As a Realtor®, you are a trained, knowledgeable, experienced professional. You know the market nationally, regionally and locally. With a strong buyer presentation such as ours, you will get the commitment of buyer prospects to work with you. We all know that working with buyers can be like herding cats. Our Buyer Presentation is a tool designed to help designate you as the real estate professional and establish control of your client.
This document provides information and guidance for home buyers. It discusses hiring a real estate team to represent the buyer and receive a 50% rebate on the buyer's agent commission. It outlines the home buying process, including gathering documents, checking credit, understanding loan types and fees. The document aims to educate home buyers on financing options and making an informed purchase.
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OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
1. Presents
PERSONALITES OF YOUR
MORTGAGE PRODUCT - 101
TRANSLATING MORTGAGE INDUSTRY TERMS INTO EVERY
DAY LANGUAGE
2. A little about Geoff Lee…
√ Co founder and Director of the Imani Orphan Care Foundation – www.imaniorphancare.com
√ Over 22 years of real estate experience and investment
√ Ranked amongst the top 3% mortgage brokers in Canada by CMP magazine
√ Finalist in 2014 CMP Canadian Mortgage Awards for Best Customer Service from an
independent office
3. LET’S RECAP…
CREDIT 101
• What a credit score is…
• All you really need is 680 – 800 to get the best mortgage rate…
• How the credit score is calculated…
• How to fix your credit problems…
4. LET’S RECAP…
MORTGAGE QUALIFICATION 101
• How to qualify for a mortgage either self-employed or employed…
• Stated Income…
• Gross Debt Service Ratio and Total Debt Service Ratio
• Mortgage Insurance
5. LET’S RECAP…
TERMS YOU NEED TO KNOW 101
• High Ratio vs Conventional Mortgage…
• LTV, LOC (Secured vs unsecured), Amort, Fixed, VRM, DCR…
• Stated Income (BFS)…
• Rental Income…
• Flexdown…
6. Fixed and Variable RATES – know the rate!
“Fixed rates are a GIFT”
• 1 year 2.65
• 2 year 2.69
• 3 year 2.75
• 4 year 2.99
• 5 year 2.84
• 7 year 3.55
• 10 year 3.69
• VARIABLE PRIME less .5
7. Don’t know what to ask???????????????????
• What are the QUESTIONS you need to know to ask???
• The RIGHT questions make all the difference in determining which
mortgage product is right for you…..
• Always ask about the terms…
NO FRILLS
FULL FRILLS
8. ?????????????????????????????
What is the penalty to break my mortgage
if I want to Upgrade, Refinance, or Sell?
• You want to consider Mortgage Flexibility
NO FRILL says…
• 12 month principle & interest
• You may be stuck with the rate the Lender gives you
NOTE!!! 70% of borrowers break or re-negotiate their mortgage BEFORE maturity!!
9. ?????????????????????????????
What are my Prepayment Privileges?
How much extra can you put toward your mortgage principle – monthly/annually?
NO FRILL says…
• 0 – 10% of monthly payment
• No anniversary or lump sum payments
NOTE!!! How much do you really need?
• Stats say on 17% make lump sum payments
• 23% make monthly payments, usually no more than 10% should be needed
10. ?????????????????????????????
Is my mortgage PORTABLE?
Can I bring my mortgage with me without a penalty AND keep my interest rate?
NO FRILL says…
• No, you can’t
• Yes, but with restrictions (ie must sell your present home AND buy your
new home within 30 days)
NOTE!!! Be aware of Lending area, especially if you are working with a CREDIT UNION.
11. ?????????????????????????????
Can my mortgage be BLENDED AND
EXTENDED?
•
If I am to sell my home…
Can my mortgage be PORTED (carried) over to the new property?
Can my RATE be BLENDED?
Can the additional monies I will need to borrow for the purchase be EXTENDED?
12. ?????????????????????????????
Is my mortgage ASSUMABLE?
If I am to sell my home can someone take over the remaining terms of the mortgage?
•
NO FRILL says…
No, you can’t!
13. ?????????????????????????????
How long can my AMORTIZATION be?
How long will it take to pay off my mortgage at the contract rate?
•
Impacts debt servicing and monthly payment
NO FRILL says…
Maximum of 25 years….
15. ?????????????????????????????
What will my rate be if I go from a VARIABLE
RATE MORTGAGE (VRM) to a FIXED rate?
•
NO FRILL says…
You get the STANDARD RATE…. not the BEST RATE….
16. In conclusion….
Once you know the RATE… understand the “long term
relationship” you are about to be committed to…
•
Get CLEAR answers on:
1. Penalty to break your mortgage 5. Amortization
2. Prepayment Privileges 6. Conversion
3. Portability 7. Applicable to Investment Property?
4. Assumability
17. “Too many of us are not living our
dreams because we are living in
our fears…”
Les Brown
“Lasting Quote….”
18. Get in touch with us….
www.geoffleemortgage.com
Twitter: @geoffleeca
Linked In: http://ca.linkedin.com/in/geoffleemortgage/
Email: Geoff@geoffleemortgage.com
Phone: 1.778.552.3489
19. Thanks so much for attending the GLM Mortgage Group
workshop – MORTGAGE QUALIFICATIOM 101.
If you have any questions please call me at 778.552.3489
or email me at geoff@geoffleemortgage.com.
“We specialize in getting you the fastest “YES” at the
SHARPEST RATE… GUARANTEED!”
- Geoff Lee