The document discusses shopping for mortgage rates and provides tips for comparing rates. It explains that mortgage rates are based on mortgage-backed securities and impacted by factors like credit scores, loan-to-value ratios, and macroeconomic news. Borrowers are advised to get rate quotes with the same closing costs to compare apples-to-apples and to consider reputation, turnaround times, and accessibility when choosing a lender.
This document defines and explains common real estate investment terms in plain language to help readers better understand real estate investing. It defines terms like mortgage, closing costs, equity, adjustable-rate mortgage, and others. The definitions are concise but thorough, explaining each term and providing examples. The overall document aims to demystify real estate investing terminology.
Jimmy Vercellino is an experienced Phoenix mortgage lender. He and his team work hard to provide a timely, efficient and excellent home loan process for buyers. As a loan specialist, Jimmy manages the entire process for his clients, making the home buying experience a pleasure instead of filled with stress. Visit http://phxhomeloan.com
The Vercellino team operates a boutique-style mortgage branch with a specific culture centered around “serving families”. He is able to originate loans in 46 states and his bank maintains a full line of conventional, government (FHA and VA) and jumbo loan products. He has received several loan production awards including National Top 1% Mortgage Broker Award.
Phoenix Mortgage Lenders Jimmy V NMLS# 184169
5050 North 40th Street Phoenix, AZ 85018
480-800-8387
Jimmy@phxhomeloan.com
Buying a Home...Top Things to Consider!Tiffany Curry
This document provides information to consider when buying a home. It includes articles on reasons to buy now such as projected price increases and rising mortgage rates. It discusses the importance of hiring a professional real estate agent to guide buyers and negotiate on their behalf. It also covers topics like projected home price increases, mortgage interest rates, costs of homeownership versus renting, and demands to place on a real estate agent. The overall message is that now is a good time for many people to consider buying a home.
This document discusses several key monetary policy tools used by the Reserve Bank of India (RBI) to regulate the money supply and control inflation in India. It explains that the bank rate is the rate at which RBI lends to other banks, and an increase in bank rate will likely lead to an increase in other lending rates. It also discusses the cash reserve ratio (CRR), which is the amount of funds banks must keep with RBI, and how increasing the CRR drains excess liquidity from banks. The statutory liquidity ratio (SLR) requires banks to maintain a minimum level of liquid assets. Other tools covered include the repo rate, reverse repo rate, prime lending rate, and base rate. The document
Repo and reverse repo rates are tools used by central banks to control money supply and liquidity in the economy. The repo rate is the rate at which banks borrow funds from the central bank, while the reverse repo rate is the rate at which the central bank borrows from banks. Lowering the repo rate injects more money into the system, encouraging business and consumer spending, while raising it has the opposite effect. Reverse repos allow banks to park excess funds with the central bank at attractive rates. In India, the RBI regulates the repo market and uses repos and reverse repos to manage liquidity.
100% Financing Options for CalPERS MembersScott Schang
The document provides an overview of a class about 100% financing options for CalPERS members. The class covers eligibility guidelines for CalPERS loans, available CalPERS home loan options including conventional, FHA, and personal loan options, and next steps for attendees interested in pursuing homeownership.
100% Financing Options for CalPERS Members - 4/16/09Scott Schang
This document summarizes a presentation about financing options for CalPERS members to purchase a home, including CalPERS loan programs and personal loans. It outlines eligibility requirements, available loan types like conventional, FHA, and CalPERS personal loans. It provides details on CalPERS personal loan guidelines for loan amounts, terms, and uses. It also describes the next steps for attendees and announces upcoming classes on related homebuying topics.
True Or False-Know Before You Go---To Get a Mortgageeddiegii
The document provides guidance to consumers on understanding mortgage products and terms. It aims to alert borrowers to potential risks of complex mortgage offerings and encourage informed decision making. Key points covered include:
- Mortgage products like option ARMs and interest-only loans can carry higher risks than traditional fixed-rate loans, such as the risk of negative amortization or payment shock from increasing monthly payments.
- It is important for borrowers to understand loan terms, benefits and risks before choosing a product to avoid unexpected payment increases.
- Federal law requires lenders to disclose loan terms and costs, which borrowers should review carefully to make informed choices.
This document defines and explains common real estate investment terms in plain language to help readers better understand real estate investing. It defines terms like mortgage, closing costs, equity, adjustable-rate mortgage, and others. The definitions are concise but thorough, explaining each term and providing examples. The overall document aims to demystify real estate investing terminology.
Jimmy Vercellino is an experienced Phoenix mortgage lender. He and his team work hard to provide a timely, efficient and excellent home loan process for buyers. As a loan specialist, Jimmy manages the entire process for his clients, making the home buying experience a pleasure instead of filled with stress. Visit http://phxhomeloan.com
The Vercellino team operates a boutique-style mortgage branch with a specific culture centered around “serving families”. He is able to originate loans in 46 states and his bank maintains a full line of conventional, government (FHA and VA) and jumbo loan products. He has received several loan production awards including National Top 1% Mortgage Broker Award.
Phoenix Mortgage Lenders Jimmy V NMLS# 184169
5050 North 40th Street Phoenix, AZ 85018
480-800-8387
Jimmy@phxhomeloan.com
Buying a Home...Top Things to Consider!Tiffany Curry
This document provides information to consider when buying a home. It includes articles on reasons to buy now such as projected price increases and rising mortgage rates. It discusses the importance of hiring a professional real estate agent to guide buyers and negotiate on their behalf. It also covers topics like projected home price increases, mortgage interest rates, costs of homeownership versus renting, and demands to place on a real estate agent. The overall message is that now is a good time for many people to consider buying a home.
This document discusses several key monetary policy tools used by the Reserve Bank of India (RBI) to regulate the money supply and control inflation in India. It explains that the bank rate is the rate at which RBI lends to other banks, and an increase in bank rate will likely lead to an increase in other lending rates. It also discusses the cash reserve ratio (CRR), which is the amount of funds banks must keep with RBI, and how increasing the CRR drains excess liquidity from banks. The statutory liquidity ratio (SLR) requires banks to maintain a minimum level of liquid assets. Other tools covered include the repo rate, reverse repo rate, prime lending rate, and base rate. The document
Repo and reverse repo rates are tools used by central banks to control money supply and liquidity in the economy. The repo rate is the rate at which banks borrow funds from the central bank, while the reverse repo rate is the rate at which the central bank borrows from banks. Lowering the repo rate injects more money into the system, encouraging business and consumer spending, while raising it has the opposite effect. Reverse repos allow banks to park excess funds with the central bank at attractive rates. In India, the RBI regulates the repo market and uses repos and reverse repos to manage liquidity.
100% Financing Options for CalPERS MembersScott Schang
The document provides an overview of a class about 100% financing options for CalPERS members. The class covers eligibility guidelines for CalPERS loans, available CalPERS home loan options including conventional, FHA, and personal loan options, and next steps for attendees interested in pursuing homeownership.
100% Financing Options for CalPERS Members - 4/16/09Scott Schang
This document summarizes a presentation about financing options for CalPERS members to purchase a home, including CalPERS loan programs and personal loans. It outlines eligibility requirements, available loan types like conventional, FHA, and CalPERS personal loans. It provides details on CalPERS personal loan guidelines for loan amounts, terms, and uses. It also describes the next steps for attendees and announces upcoming classes on related homebuying topics.
True Or False-Know Before You Go---To Get a Mortgageeddiegii
The document provides guidance to consumers on understanding mortgage products and terms. It aims to alert borrowers to potential risks of complex mortgage offerings and encourage informed decision making. Key points covered include:
- Mortgage products like option ARMs and interest-only loans can carry higher risks than traditional fixed-rate loans, such as the risk of negative amortization or payment shock from increasing monthly payments.
- It is important for borrowers to understand loan terms, benefits and risks before choosing a product to avoid unexpected payment increases.
- Federal law requires lenders to disclose loan terms and costs, which borrowers should review carefully to make informed choices.
This document provides an overview of mortgages and mortgage-backed securities. It discusses the key types of mortgages including fixed rate, adjustable rate, residential, and commercial. It also covers agency versus non-agency loans. The document then explains how mortgage payments work, including the amortization process and prepayment options. It also discusses how mortgages are pooled and securitized into mortgage-backed securities. It provides examples of pools and describes metrics like weighted average coupon and weighted average maturity. Finally, it covers topics like to-be-announced securities, repurchase agreements, and dollar rolls for financing mortgages.
Are You Thinking About Buying a Home?
The process of buying a home can be overwhelming at times, but you don't need to go through it alone.
You may be wondering if now is a good time to buy a home...or if interest rates are projected to rise or fall. This free eGuide will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
The document summarizes current mortgage qualification requirements for purchases and refinances. It outlines the basics needed to qualify including a job/income, down payment, decent credit, and being able to afford the home. It then defines key terms and details the requirements for various loan types like conventional, jumbo, FHA, VA, and ARM loans. Requirements outlined include credit score, debt-to-income ratio, reserves, loan-to-value ratio, down payment amount, and documentation needed.
This document discusses four reasons to consider buying a home now rather than waiting:
1. Home prices are projected to continue rising significantly over the next five years according to surveys of economists.
2. Mortgage interest rates are expected to increase over the next year, increasing monthly housing costs.
3. Homeowners pay down both principal and interest on their mortgage while renters only pay the landlord's costs.
4. Personal reasons for wanting to buy a home, like having a place for children to grow up, should be considered rather than just financial factors which may suggest waiting.
This document provides an overview of reasons to consider buying a home now rather than waiting. It begins by outlining projections that home prices will continue to rise 15.1-32.8% over the next 5 years and that mortgage interest rates will increase by around 1% in the next year. It then notes that whether renting or owning, households must pay housing costs, and owning allows building equity over time. Finally, it suggests considering non-financial factors like wanting the right home for one's family as reasons not to wait to buy.
Debbie Railey's Home Buyers Guide 2015 Summerexcell4him
This document provides information for homeowners considering buying a home. It discusses reasons to buy a home now such as projected increases in home prices and mortgage interest rates. It also covers topics like the costs of owning versus renting, working with a real estate professional, and mortgage paperwork. Overall, the document advocates that now is a good time for interested buyers to purchase a home rather than waiting.
This document provides information on various topics related to buying a home. It includes articles on reasons to buy a home now rather than wait, the importance of hiring a professional real estate agent, projected increases in home prices and mortgage interest rates over the next few years, and the financial benefits of homeownership compared to renting. The document is aimed at educating potential homebuyers on current housing market conditions and factors to consider when purchasing a property.
So which mortgage is the right one for you? Wait for it…it depends! You know life is too complex for an easy rule of thumb. You should seek the advice of a qualified financial planner who does this kind of scenario all the time. The second thing you could do is give us a call..
This document provides information for home buyers on various topics related to buying a home. It discusses reasons to buy a home now such as projected increases in home prices and mortgage interest rates. It emphasizes the importance of hiring a real estate professional to negotiate the best deal and avoid potential pitfalls. It also examines projections that home prices will appreciate 3.6% annually over the next five years and mortgage interest rates are expected to rise slightly over the coming year. The document advises buyers to consider the long-term costs of homeownership rather than just the initial price.
The document discusses different types of loans:
1. Personal loans that do not require collateral and can be used for any purpose.
2. Home loans to purchase, construct, or renovate a home. Banks typically limit loans to 75-85% of the property value.
3. Loans against property that use existing residential or commercial property as collateral. Banks provide 40-70% of the property's market value.
4. Auto loans to purchase new or used vehicles, with monthly payments capped at 50% of income and loans up to 80% of the car's price.
This document provides information on various topics related to buying a home, including:
- Reasons to buy a home now such as projected price increases and rising mortgage interest rates.
- The importance of hiring a real estate professional to guide buyers through the process and negotiate on their behalf.
- Analyses of home price trends nationally and by state over the last year, as well as projections that home prices will appreciate an average of 3.6% annually over the next 5 years.
- Explanations for the extensive paperwork required for mortgage loans today compared to the past in order to prevent foreclosures.
- Financial analyses of how even small increases in interest rates or home prices impact monthly mortgage
A Complete Guide to FHA Refinance LoansScott Schang
A Complete Guide to FHA Refinance loan programs reviews basic FHA qualifying guidelines including employment, income and allowable properties.
Before you refinance your home, you should always do a thorough cost/benefit analysis to determine if you are refinancing for the right reasons.
We also discuss "Red Flags" - What to watch out for. These are common marketing and sales strategies that try to trick you into refinancing without all the facts.
Seller enhanced financing refers to when a home seller contributes to the buyer's mortgage costs in order to help the sale. This can include paying points to lower the interest rate, paying closing fees, or extending the buyer's rate lock. Common types are temporary or permanent interest rate buydowns. Seller contributions are usually limited to a percentage of the home's sale price by lending guidelines. Seller enhanced financing can help sales by making homes more affordable to buyers who need help with closing costs or qualifying for a loan. Mortgage professionals can advise on the best options to use seller contributions as a negotiation tool.
Singapore's real estate investment yields could fall into negative territory if interest rates rise further. With lower rental yields and tighter financing rules, real estate transaction volumes are likely to decline. Property owners have turned to fixed interest rates to hedge against rising rates. When refinancing a home loan, owners should check for prepayment penalties and subsidy reimbursements. They should also carefully consider 10 key terms like the reference rate, lock-in period, prepayment penalties and interest reset dates to maximize savings and avoid penalties when choosing a home loan package.
Mortgage rates beginner's_guide-maria arruaMaria A. Arrua
The document provides an overview of mortgages, including what a mortgage is, different types of mortgages and mortgage rates, how to find the best mortgage rates, what mortgage rate lock-in is, and how changing mortgage rates can affect homeowners. It serves as a beginner's guide to understanding mortgages and making informed decisions when taking out a home loan.
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.
You May Be Paying Too Much for Your MortgageDawn Hicks
This document discusses how mortgage rates and terms can vary greatly between lenders and that some borrowers may qualify for better terms now that could save them thousands. It provides an example showing that on a $200,000, 30-year fixed rate mortgage, the monthly payment for a borrower with a 700 credit score and 6.2% rate would be $1,227, while a borrower with a 620 credit score and 9.4% rate would pay $1,671 per month, a difference of $444 per month or $5,328 per year. It advises readers to check their credit history and score, ask if their mortgage rate is over 7%, and consider refinancing or modifying their loan
Sharon 2013 first home buyer presentation sharon andrewsSharon Andrews
The document is a presentation for first-time homebuyers that covers:
1) Choosing the right mortgage program that fits one's budget, lifestyle, and goals;
2) The benefits of buying a home over renting such as building equity; and
3) A three-step process for beginning the home buying process including getting pre-approved, choosing experts for a "home team", and learning about the process.
This document discusses interest-only loans and option ARMs, which are non-traditional mortgage products gaining popularity. These products offer lower initial monthly payments but carry significant risks. The payments increase substantially after the introductory period ends, and homeowners may owe more than the original loan amount. Additionally, these products offer little to no home equity build up. The document analyzes example loans to illustrate payment structures and compares risks and benefits of traditional vs. non-traditional mortgages.
GUIDE - Buyers - Guide to buying a HomeJosie Boyter
The document provides information and guidance to help a client prepare for and navigate the home buying process, including estimating their budget and what they can afford, reviewing their credit, gathering necessary documents, speaking to a lender, and understanding different loan types and costs. The client's real estate agent will guide them through each step, answer any questions, and help them find a home that meets their needs and desires.
Near-record numbers of borrowers are fixing their mortgage rates as lenders crack down on lending standards. As lenders increase funding costs and tighten criteria for assessing borrower dependability, many homeowners are securing fixed rates to ensure stable repayments. However, fixed rates have disadvantages like lack of flexibility. Borrowers must carefully consider factors like early repayment fees and higher post-fixed rates to find the best option.
First time home buyer loan mortgage(TLM).pptxmarketing367770
Navigating the realm of mortgages as a first-time homebuyer can feel overwhelming. However, finding the best mortgage tailored to your needs can pave the way to homeownership with confidence. Our mortgage solution for first-time homebuyers is designed to simplify the process and provide peace of mind.
With competitive interest rates, flexible terms, and personalized guidance, our mortgage product empowers first-time buyers to embark on their homeownership journey with ease. Whether you're dreaming of a cozy starter home or envisioning a place to raise a family, our mortgage options cater to diverse needs and financial situations.
Additionally, we offer comprehensive support throughout the mortgage application process, from pre-approval to closing. Our team of experts is dedicated to demystifying the mortgage process, answering your questions, and helping you make informed decisions every step of the way.
Experience the excitement of homeownership without the stress. Discover why our mortgage for first-time homebuyers stands out as the ideal choice for turning your homeownership dreams into reality.
This document provides an overview of mortgages and mortgage-backed securities. It discusses the key types of mortgages including fixed rate, adjustable rate, residential, and commercial. It also covers agency versus non-agency loans. The document then explains how mortgage payments work, including the amortization process and prepayment options. It also discusses how mortgages are pooled and securitized into mortgage-backed securities. It provides examples of pools and describes metrics like weighted average coupon and weighted average maturity. Finally, it covers topics like to-be-announced securities, repurchase agreements, and dollar rolls for financing mortgages.
Are You Thinking About Buying a Home?
The process of buying a home can be overwhelming at times, but you don't need to go through it alone.
You may be wondering if now is a good time to buy a home...or if interest rates are projected to rise or fall. This free eGuide will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
The document summarizes current mortgage qualification requirements for purchases and refinances. It outlines the basics needed to qualify including a job/income, down payment, decent credit, and being able to afford the home. It then defines key terms and details the requirements for various loan types like conventional, jumbo, FHA, VA, and ARM loans. Requirements outlined include credit score, debt-to-income ratio, reserves, loan-to-value ratio, down payment amount, and documentation needed.
This document discusses four reasons to consider buying a home now rather than waiting:
1. Home prices are projected to continue rising significantly over the next five years according to surveys of economists.
2. Mortgage interest rates are expected to increase over the next year, increasing monthly housing costs.
3. Homeowners pay down both principal and interest on their mortgage while renters only pay the landlord's costs.
4. Personal reasons for wanting to buy a home, like having a place for children to grow up, should be considered rather than just financial factors which may suggest waiting.
This document provides an overview of reasons to consider buying a home now rather than waiting. It begins by outlining projections that home prices will continue to rise 15.1-32.8% over the next 5 years and that mortgage interest rates will increase by around 1% in the next year. It then notes that whether renting or owning, households must pay housing costs, and owning allows building equity over time. Finally, it suggests considering non-financial factors like wanting the right home for one's family as reasons not to wait to buy.
Debbie Railey's Home Buyers Guide 2015 Summerexcell4him
This document provides information for homeowners considering buying a home. It discusses reasons to buy a home now such as projected increases in home prices and mortgage interest rates. It also covers topics like the costs of owning versus renting, working with a real estate professional, and mortgage paperwork. Overall, the document advocates that now is a good time for interested buyers to purchase a home rather than waiting.
This document provides information on various topics related to buying a home. It includes articles on reasons to buy a home now rather than wait, the importance of hiring a professional real estate agent, projected increases in home prices and mortgage interest rates over the next few years, and the financial benefits of homeownership compared to renting. The document is aimed at educating potential homebuyers on current housing market conditions and factors to consider when purchasing a property.
So which mortgage is the right one for you? Wait for it…it depends! You know life is too complex for an easy rule of thumb. You should seek the advice of a qualified financial planner who does this kind of scenario all the time. The second thing you could do is give us a call..
This document provides information for home buyers on various topics related to buying a home. It discusses reasons to buy a home now such as projected increases in home prices and mortgage interest rates. It emphasizes the importance of hiring a real estate professional to negotiate the best deal and avoid potential pitfalls. It also examines projections that home prices will appreciate 3.6% annually over the next five years and mortgage interest rates are expected to rise slightly over the coming year. The document advises buyers to consider the long-term costs of homeownership rather than just the initial price.
The document discusses different types of loans:
1. Personal loans that do not require collateral and can be used for any purpose.
2. Home loans to purchase, construct, or renovate a home. Banks typically limit loans to 75-85% of the property value.
3. Loans against property that use existing residential or commercial property as collateral. Banks provide 40-70% of the property's market value.
4. Auto loans to purchase new or used vehicles, with monthly payments capped at 50% of income and loans up to 80% of the car's price.
This document provides information on various topics related to buying a home, including:
- Reasons to buy a home now such as projected price increases and rising mortgage interest rates.
- The importance of hiring a real estate professional to guide buyers through the process and negotiate on their behalf.
- Analyses of home price trends nationally and by state over the last year, as well as projections that home prices will appreciate an average of 3.6% annually over the next 5 years.
- Explanations for the extensive paperwork required for mortgage loans today compared to the past in order to prevent foreclosures.
- Financial analyses of how even small increases in interest rates or home prices impact monthly mortgage
A Complete Guide to FHA Refinance LoansScott Schang
A Complete Guide to FHA Refinance loan programs reviews basic FHA qualifying guidelines including employment, income and allowable properties.
Before you refinance your home, you should always do a thorough cost/benefit analysis to determine if you are refinancing for the right reasons.
We also discuss "Red Flags" - What to watch out for. These are common marketing and sales strategies that try to trick you into refinancing without all the facts.
Seller enhanced financing refers to when a home seller contributes to the buyer's mortgage costs in order to help the sale. This can include paying points to lower the interest rate, paying closing fees, or extending the buyer's rate lock. Common types are temporary or permanent interest rate buydowns. Seller contributions are usually limited to a percentage of the home's sale price by lending guidelines. Seller enhanced financing can help sales by making homes more affordable to buyers who need help with closing costs or qualifying for a loan. Mortgage professionals can advise on the best options to use seller contributions as a negotiation tool.
Singapore's real estate investment yields could fall into negative territory if interest rates rise further. With lower rental yields and tighter financing rules, real estate transaction volumes are likely to decline. Property owners have turned to fixed interest rates to hedge against rising rates. When refinancing a home loan, owners should check for prepayment penalties and subsidy reimbursements. They should also carefully consider 10 key terms like the reference rate, lock-in period, prepayment penalties and interest reset dates to maximize savings and avoid penalties when choosing a home loan package.
Mortgage rates beginner's_guide-maria arruaMaria A. Arrua
The document provides an overview of mortgages, including what a mortgage is, different types of mortgages and mortgage rates, how to find the best mortgage rates, what mortgage rate lock-in is, and how changing mortgage rates can affect homeowners. It serves as a beginner's guide to understanding mortgages and making informed decisions when taking out a home loan.
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.
You May Be Paying Too Much for Your MortgageDawn Hicks
This document discusses how mortgage rates and terms can vary greatly between lenders and that some borrowers may qualify for better terms now that could save them thousands. It provides an example showing that on a $200,000, 30-year fixed rate mortgage, the monthly payment for a borrower with a 700 credit score and 6.2% rate would be $1,227, while a borrower with a 620 credit score and 9.4% rate would pay $1,671 per month, a difference of $444 per month or $5,328 per year. It advises readers to check their credit history and score, ask if their mortgage rate is over 7%, and consider refinancing or modifying their loan
Sharon 2013 first home buyer presentation sharon andrewsSharon Andrews
The document is a presentation for first-time homebuyers that covers:
1) Choosing the right mortgage program that fits one's budget, lifestyle, and goals;
2) The benefits of buying a home over renting such as building equity; and
3) A three-step process for beginning the home buying process including getting pre-approved, choosing experts for a "home team", and learning about the process.
This document discusses interest-only loans and option ARMs, which are non-traditional mortgage products gaining popularity. These products offer lower initial monthly payments but carry significant risks. The payments increase substantially after the introductory period ends, and homeowners may owe more than the original loan amount. Additionally, these products offer little to no home equity build up. The document analyzes example loans to illustrate payment structures and compares risks and benefits of traditional vs. non-traditional mortgages.
GUIDE - Buyers - Guide to buying a HomeJosie Boyter
The document provides information and guidance to help a client prepare for and navigate the home buying process, including estimating their budget and what they can afford, reviewing their credit, gathering necessary documents, speaking to a lender, and understanding different loan types and costs. The client's real estate agent will guide them through each step, answer any questions, and help them find a home that meets their needs and desires.
Near-record numbers of borrowers are fixing their mortgage rates as lenders crack down on lending standards. As lenders increase funding costs and tighten criteria for assessing borrower dependability, many homeowners are securing fixed rates to ensure stable repayments. However, fixed rates have disadvantages like lack of flexibility. Borrowers must carefully consider factors like early repayment fees and higher post-fixed rates to find the best option.
First time home buyer loan mortgage(TLM).pptxmarketing367770
Navigating the realm of mortgages as a first-time homebuyer can feel overwhelming. However, finding the best mortgage tailored to your needs can pave the way to homeownership with confidence. Our mortgage solution for first-time homebuyers is designed to simplify the process and provide peace of mind.
With competitive interest rates, flexible terms, and personalized guidance, our mortgage product empowers first-time buyers to embark on their homeownership journey with ease. Whether you're dreaming of a cozy starter home or envisioning a place to raise a family, our mortgage options cater to diverse needs and financial situations.
Additionally, we offer comprehensive support throughout the mortgage application process, from pre-approval to closing. Our team of experts is dedicated to demystifying the mortgage process, answering your questions, and helping you make informed decisions every step of the way.
Experience the excitement of homeownership without the stress. Discover why our mortgage for first-time homebuyers stands out as the ideal choice for turning your homeownership dreams into reality.
First time home buyer loan mortgage(TLM).pptxmarketing367770
Unlock your dream of homeownership with our First Time Home Buyer Loan Mortgage (TLM) presentation. Learn about the benefits, eligibility criteria, and steps to secure your first mortgage. Whether you're navigating down payments or exploring loan options, this presentation is your guide to making your first home purchase a reality.
Learn more about MAP - COVE's innovative "Lease and Later Own" program.
Customers lease and live in the home of their choice today while they seek to qualify for a mortgage to purchase the home in the future at a locked-in price.
There was a man who made a living selling balloons at a fair. He had all colors of
balloons, including red, yellow, blue, and green. Whenever business was slow, he would
release a helium-filled balloon into the air and when the children saw it go up, they all
wanted to buy one. They would come up to him, buy a balloon, and his sales would go up
again. He continued this process all day. One day, he felt someone tugging at his jacket.
He turned around and saw a little boy who asked, "If you release a black balloon, would
that also fly?" Moved by the boy's concern, the man replied with empathy, "Son, it is not
the color of the balloon, it is what is inside that makes it go up."
The same thing applies to our lives. It is what is inside that counts. The thing inside of us
that makes us go up is our attitude.
Have you ever wondered why some individuals, organizations, or countries are more
successful than others?
It is not a secret. These people simply think and act more effectively. They have learned
how to do so by investing in the most valuable asset--people. I believe that the success
of an individual, organization or country, depends on the quality of their people.
I have spoken to executives in major corporations all over the world and asked one
question: "If you had a magic wand and there was one thing you would want changed,
that would give you a cutting edge in the marketplace resulting in increased productivity
and profits, what would that be?" The answer was unanimous. They all said that if people
had better attitudes, they'd be better team players, and it'd cut down waste, improve
loyalty and, in general, make their company a great place to work.
William James of Harvard University said, "The greatest discovery of my generation is
that human beings can alter their lives by altering their attitudes of mind."
Experience has shown that human resources is the most valuable asset of any business.
It is more valuable than capital or equipment. Unfortunately, it is also the most wasted.
People can be your biggest asset or your biggest liability.
TQP--TOTAL QUALITY PEOPLE
Having been exposed to a number of training programs, such as customer service,
selling skills, and strategic planning, I have come to the conclusion that all these are
great programs with one major challenge: None of them works unless they have the right
foundation, and the right foundation is TQP. What is TQP? TQP is Total Quality People--
people with character, integrity, good values, and a positive attitude.
Don't get me wrong. You do need all the other programs, but they will only work when
you have the right foundation, and the foundation is TQP. For example, some customer
service programs teach participants to say "please," and "thank-you," give smiles and
handshakes. But how long can a person keep on a fake smile if he does not have the
desire to serve? Besides, people can see through him. And if the smile is not sincere, it is
irritating. My point is, there has to be sub
This document provides a guide to navigating the mortgage process in 6 steps. It aims to demystify the process and make it less stressful. The guide discusses how to shop for the best mortgage by finding a product that meets your needs, has the lowest price, and is provided by a credible company. It explains factors to consider like loan terms and interest rates. It emphasizes the importance of the borrower's credit score in determining the mortgage rate. The guide offers tips for researching mortgage companies and narrowing options. The overall goal is to empower readers with knowledge to make the process of obtaining a home loan easier to understand.
This document discusses various factors to consider when taking out a home loan or refinancing an existing loan. It notes that while most people want to pay off their home loan quickly, there are times when extra funds are needed for other purposes like renovations or investments. The document examines the costs and benefits of loans that charge ongoing fees versus those without fees. It also outlines other fees to be aware of like establishment fees, termination fees, and penalties for breaking fixed rates. Finally, it recommends obtaining a flexible loan with features like redraw facilities, offset accounts, and multiple repayment options to meet changing needs over time.
Jimmy Vercellino is an experienced Phoenix mortgage lender. He and his team work hard to provide a timely, efficient and excellent home loan process for buyers. As a loan specialist, Jimmy manages the entire process for his clients, making the home buying experience a pleasure instead of filled with stress. Visit http://phxhomeloan.com
The Vercellino team operates a boutique-style mortgage branch with a specific culture centered around “serving families”. He is able to originate loans in 46 states and his bank maintains a full line of conventional, government (FHA and VA) and jumbo loan products. He has received several loan production awards including National Top 1% Mortgage Broker Award.
Phoenix Mortgage Lenders Jimmy V NMLS# 184169
5050 North 40th Street Phoenix, AZ 85018
480-800-8387
Jimmy@phxhomeloan.com
This document provides a guide to navigating the mortgage process from Guaranteed Rate, a mortgage company. It discusses six key steps to getting a mortgage: 1) How to shop for the best mortgage by considering your needs, the lowest price, and a credible lender. 2) Understanding how credit scores are calculated and their importance in qualifying for a mortgage. 3) What documents are required in the mortgage application process. 4) Dos and don'ts before applying for a mortgage. 5) The timeline and steps to get a mortgage and buy a home. 6) Specialty loans like VA and FHA loans that may offer benefits. The guide aims to make the process easier to understand and less stressful.
Mortgage rates a beginner's guide - dec 6steven milner
This document provides an overview of mortgages and mortgage rates for beginners. It discusses what a mortgage is, different types of mortgages and mortgage rates. It also covers how to find the best mortgage rates, the process of locking in rates, and how changing rates can affect homeowners. The key topics covered are types of fixed and adjustable rate mortgages, factors that influence mortgage rates like credit scores, and the importance of shopping around and locking in rates when getting a mortgage.
The document discusses the process of purchasing a home through a mortgage lender called Fairway. It begins by outlining the benefits of owning a home over renting, as owning allows individuals to build equity over time instead of their monthly payments disappearing as rent. It then walks through the steps involved in the home buying process, including getting pre-qualified, processing the loan, underwriting, pre-closing, and closing. Key aspects of mortgages like principal, interest, taxes, insurance, points, and amortization are also defined.
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.
Buy a home 1 year after short sale, bankruptcy or foreclosureShashank Shekhar
Buy a home one year after short sale, bankruptcy or foreclosure, back to work loan program details, how can you qualify, when you apply, can it be used for purchase and refinance, how can you get the loan?
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Find out how you can qualify for a mortgage and buy a house after you have had a Short Sale, Foreclosure or Bankruptcy (Chapter 7 and Chapter 13). The slides talk about Conventional (Conforming) and FHA loans eligibility criteria after Short Sale, Foreclosure and Bankruptcy.
The mortgage panel at Virtual RE Bar Camp included me and 4 other top mortgage bloggers. We talked about why it makes sense for real estate agents to have mortgage content on their blog.
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This document discusses strategies for mortgage lenders to target and better serve first-time home buyers (FTHBs). It notes that FTHBs currently make up around 30% of the housing market and that targeting this segment can provide lenders with loyal, long-term clients. The document recommends focusing marketing and outreach efforts on younger generations using tools like social media, blogging, and videos. It also suggests tailoring the lending process to address common FTHB concerns about jobs, down payments, and credit. Finally, the summary emphasizes embracing FHA loans, which are well-suited for many FTHBs.
What are the regulatory changes that will affect mortgage lending in 2010? How will the mortgage rates move and what are the loan production forecasts?
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
South Dakota State University degree offer diploma Transcriptynfqplhm
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What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
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“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
2. About Arcus Lending
• Arcus Lending is Mortgage Lender based in San Jose,
California
• Products Offered: Residential Mortgages- FHA,
Conventional, VA, 203K, HARP, HomePath, Reverse
Mortgage, CHDAP, 80/10/10
• Geography Served: California, Washington and
Oregon
• What are they known for: Legendary customer
service, quick closing and rates that are consistently
better than the leading banks
29/17/2013 Arcus Lending
3. Ab About Shashank Shekhar
• Shashank is the Founder and CEO of Arcus Lending
• An Amazon.com Best-selling Author, Shashank is
widely regarded as California’s #1 Mortgage Expert
• He is a National speaker, and a blogger who is
frequently tapped for his expertise by various
national and local media including FOX, CBS, ABC and
NBC
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4. • The information contained within this document
is for educational purposes only. Every attempt
has been made to provide accurate, up to date,
reliable and complete information. No
warranties of any kind are expressed or implied.
Readers acknowledge that the author is not
engaging in rendering legal, financial or
professional advice.
Disclaimer
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5. Agenda
• Where do mortgage rates come from?
• What is LLPA and how does it impact you?
• What are the factors that impact mortgage rates?
• Why a borrower may not qualify for the lowest
advertised rates?
• Should a borrower pay points to get a better rate?
• The #1 advice you can ever get on rate shopping
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6. Where Do Mortgage Rates Come From?
• Mortgage rates are based on Mortgage Backed
Securities (MBS).
• MBS is a kind of a bond that trades on Wall Street
every trading day. If there is more demand for MBS,
the price of MBS goes up and mortgage rates go
down. If there is less demand, then the inverse
happens and the rates go up.
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7. Where Do Mortgage Rates Come From?
• The price of MBS gets impacted by several factors,
but most importantly macro economic news. Better
economic news usually means good news for stock
market and bad news for bonds. For example when
unemployment news is reported better than
expected (meaning more jobs are created),MBS
prices go down.
• Bottom line–better economic news is bad for
mortgage rates.
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8. Where Do Mortgage Rates Come From?
• It’s a common misconception that the Fed sets the
mortgage rates.
• While Fed’s policies may have an overall impact on
rates, it doesn’t control the day-to-day changes to
mortgage rates.
• So even though Fed some times doesn’t change the
rates for several months or even years, mortgage
rates can change on a daily basis.
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9. Where do mortgage rates come from?
• Mortgage rates and fees are determined on a theory
called “Risk Based Pricing.” If a borrower is perceived
to be a bigger risk, he might need to pay a higher
rate and/or a higher fees.
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10. Understanding Loan Level Price Adjustment
• Loan Level Price Adjustment (LLPA) is adjustment to
the rate/fees charged to a borrower based on his/her
credit qualifications. This applies to conventional
loans backed by Fannie Mae/Freddie Mac.
• LLPAs are assessed based upon certain eligibility or
other loan features, such as credit score, loan
purpose, occupancy, number of units, product type,
etc.
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11. Understanding Loan Level Price Adjustment
• Credit Score–For conventional mortgages 740+ is
considered an excellent score.
• Any score under 740 can result in higher cost or fees.
• Assume a borrower’s credit score is 719. If he/she is
getting a loan amount of $400,000 with 20% down,
he/she will pay a fees of $3000 extra compared to
someone with a 740 score (see chart on slide 13).
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12. Understanding Loan Level Price Adjustment
• Loan to Value Ratio (LTV)–Higher LTVs mean higher
rates.
• So if a borrower is getting a loan with as much as
40% down payment, he/she should get better rates
than someone who only has 10% down.
• Again, assuming a 719 score, that would mean a
difference in cost of 1.25% or $5,000 for a $400,000
loan amount. (see chart on the next slide)
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13. Understanding Loan Level Price Adjustment
• Loan Program–Fixed rate mortgages would typically have
higher rates than an Adjustable Rate Mortgage (ARM)
• Occupancy Type–A primary residence or second home would
get a better rate than an investment property
• Property Type–A condominium with less than 25% down
payment will have a higher rate than a single family residence
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14. Understanding Loan Level Price Adjustment
• Loan Amount–The conforming loan limit is $417,000. But in
some high cost areas like San Jose, CA the loan limit is
$625,500. But the rates are higher on loan amounts over
$417,000. Call us to learn about conventional loan limits
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15. Understanding Loan Level Price Adjustment
• Subordinate Financing–If a borrower is getting a second
mortgage along with the first, he/she may end up paying a
higher rate on the first.(See chart below)
• You can see how sometimes even a small difference in
qualifying criteria could result in a significantly higher rates
and/or fees. Usually the advertised rate assumes best case
scenario- 40% down payment,740+ credit etc. Most of the
borrowers normally don’t qualify for those rates 159/17/2013 Arcus Lending
16. Questions to Ask A Lender When Shopping
Rates
• What’s the duration of Lock period?
• Make sure that when you are quoted a rate, you are
asking the broker what the lock duration is. Make
sure that lock period allows you enough time to
complete your purchase transaction.
• Also, ask for lock extension policy. What happens if
the lock expires and the loan hasn’t closed? How
much is the lock extension fees and who pays for it?
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17. Questions to Ask A Lender When Shopping
Rates
• Do you know what impacts mortgage rates?
It’s important you work with a Loan Officer who
knows what impacts mortgage rates and how they
can change on a daily basis.
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18. Questions to Ask A Lender When Shopping
Rates
• How would you advise me when is the right time to
lock?
Check with the Loan Officer if the/she tracks the
MBS live. Even a small change of 12 basis points can
impact the rate a borrower qualifies for. If the Loan
Officer doesn’t track MBS live, he/she may not be
able to advise of the right time to lock the rate.
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19. Questions to Ask A Lender When Shopping
Rates
• Which of the estimated fees can increase at closing?
The loan officer will provide you with a Good Faith
Estimate (GFE) with details of your closing costs. But
it’s just an estimate and can change at closing. So,
ask the loan officer to explain every single item on
the GFE and ask which ones can increase at closing.
Understand why they would increase and by how
much they can increase.
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20. Should You Pay Points or Not?
• Points are up front fees paid to obtain a better
interest rate on a loan.
• One point equals one percent of the loan amount. A
lower interest rate may result in a lower monthly
payment, but it is important to consider how long
you intend to be in the loan, and to compare current
rates to historical market trends.
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21. Should You Pay Points or Not?
• If you take out a $300,000 mortgage and decide to
pay one point, this translates into an up-front closing
cost of $3,000.Paying a point upfront saves $100 a
month but it will take 30 months to recuperate the
cost of that point.
• If you decide to refinance or sell the home before the
30-month mark, your money is lost. In this case, you
would benefit financially by remaining in the home
longer than the 30 months
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22. Should You Pay Points or Not?
• Rates run in cycles. When rates are at historical lows,
it is sensible to pay points if you plan to live in the
home for an extended period of time. It is unlikely
that rates will go down; hence, there will be no need
to refinance.
• When rates are up, there is a strong likelihood that
they will come down. This is no time to pay points.
The chances of refinancing in the future are
extremely high, and you will likely not be in the loan
long enough to recuperate the cost of the points
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23. • When you shop different lenders you get several
interest rate and cost options. Sometimes it can be
very easy to compare them.
• See the example below:
– Lender1–Rate Quote–4.5%,Loan Fees-$1,000
– Lender2–Rate Quote–4.5%,LoanFees-$2,000
– Lender3–Rate Quote–4.5%,LoanFees-$3,000
• In this case ,it’s easy to figure out that Lender1 is an
obvious choice. At other times, it can be very
confusing to find out which one is the best option.
How to Compare Mortgage Rates?
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24. How to Compare Mortgage Rates?
• Let’s take a look at an example below:
– Lender1–Rate Quote–4.5%,Loan Fees-$3,000
– Lender2–Rate Quote–4.625%,Loan Fees-$1000
– Lender3–Rate Quote–4.375%,Loan Fees-$4,000
• Annual Percentage Rate (APR) was introduced to
make rate comparisons easy. But, different lenders
calculate APR differently.
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25. How to Compare Mortgage Rates?
Here’s an easy way to rate shop, so that it’s really easy to
compare different rate quotes:
Do not just compare rates, compare fees as well
A lot of borrowers make a simple mistake –they call
different lenders and compare the rates offered. They
forget to ask for their fees. A lender with a lower rate
could still turn out to be more expensive if their fees are
significantly higher than someone with only a slightly
higher rate.
1
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26. How to Compare Mortgage Rates?
Ask all the lenders to quote the same closing cost
For example, ask them to give a rate with $2000
closing cost. If you are looking for a no cost
refinance, ask for all quotes with zero cost. That
way, all you have to do is compare the rates.
2
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27. How to Compare Mortgage Rates?
Shop mortgage rates in a very short period, ideally
within couple of hours.
Mortgage rates change frequently. You should be
shopping with different lenders when the MBS is
trading at the same level. Else, you won’t be
comparing apples to apples. If you shopped with
Lender A on Monday and Lender B on Tuesday, the
market may be very different.
3
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28. How to Compare Mortgage Rates?
Don’t always go with the lender with lowest rates.
This may shock you, but it’s true
Bait and Switch technique–Sometimes when it’s too
good to be true, it’s exactly that. Some lenders will
rope you in with non-existent rates and then change
the terms of the deal as you move forward with the
loan process
4
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29. How to Compare Mortgage Rates?
• Bad reputation of lowest priced lenders – Most of
the lenders who advertise the lowest rates, have very
bad reputation. Don’t just look at their rates, be sure
to also check their rating with the Better Business
Bureau
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30. How to Compare Mortgage Rates?
• Closing turn times – Most of the purchase contracts
are good for 30 days. That means you need to close
the transaction within that time period. Make sure
the lender you are going with, will be able to close
the transaction within that time.
• Ask them to break it down with turn times for
different steps of the loan process and then have
couple of days of cushion.
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31. How to Compare Mortgage Rates?
• Accessibility – You need to work with a lender that
works beyond 9am–5pm Mon-Fri.
• It’s going to be one the most important financial
transaction of your life and you want to make sure
you are working with someone who is accessible
after hours. If you are a First Time Home Buyer, this is
especially important.
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32. How to Compare Mortgage Rates?
• Check on Lender’s Expertise and Credibility -
Consider the expertise and credibility of the
mortgage lender. Google them to see if they have
been covered favorably in media. Check their Yelp
and Google+ rating and read client reviews.
• A well-versed consultant will ask you many questions
about your short and long-term goals, and assist you
in choosing a loan program that is truly suited to
those goals
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33. How do you apply for a mortgage?
• Call (408) 615 0655
• Email: Info@ArcusLending.com
• Website: www.ArcusLending.com
• Blog: www.LendingExpertBlog.com
• FaceBook: www.facebook.com/ArcusLending
Licensing Info:
Arcus Lending Inc, NMLS ID 1035734 and CA BRE #01857474
Shashank Shekhar NMLS ID 8176
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