The document provides an overview of the steps to homeownership for first-time homebuyers. It discusses getting pre-qualified for a mortgage loan, the home buying process including applying for a loan, credit checks, appraisals, and closing. It also compares the costs and benefits of owning vs renting, and describes various affordable mortgage programs and products available through Harris to help make homeownership possible.
This document describes a business model where an online company matches homeowners seeking mortgages with banks. It works as follows:
1. Homeowners search online for mortgages and submit their information as a "lead".
2. The company sends these leads to banks for free.
3. Banks pay the company a fee for each lead that results in a closed mortgage.
4. The company then pays a portion of these fees to the homeowners and to affiliates who referred the leads.
The company argues this benefits homeowners by potentially paying them for their mortgage lead, banks by providing qualified leads, and affiliates by earning commissions in the process.
Credit Union Fee Income Through Wealth Management Webinar Handouts | Money Co...NAFCU Services Corporation
This document discusses wealth management services that a credit union could offer to its members. It begins by asking what members' needs and fears are currently. Then it outlines demographic groups among members and the high, medium, and low needs they may have. The rest of the document discusses what wealth management entails, how a credit union can develop wealth management as an integrated platform, marketing and educational support available, sample seminar topics, compliance considerations, and technology solutions. It provides examples of three families' financial situations and returns under different wealth management strategies. The overall message is that wealth management can be a valuable service for credit unions to offer members.
The 2009 First-Time Home Buyer Tax Credit provides a tax credit of up to $8,000 for first-time home buyers who purchase a home between January 1, 2009 and December 1, 2009. The maximum credit is $8,000 or 10% of the home's purchase price. The credit phases out for single filers with incomes between $75,000 and $95,000 and joint filers with incomes between $150,000 and $170,000. Buyers do not repay the credit if they live in the home for at least three years.
Securing Retirement with a Reverse Mortgage:San Diego Mortgage and LoansJohn Kilby
This document discusses using a Home Equity Conversion Mortgage (HECM) or reverse mortgage to supplement retirement income. It provides an overview of HECM basics like eligibility, fees, and ways to access funds. Specific strategies are presented, such as using a HECM to hedge against home price declines or defer claiming Social Security benefits for higher monthly payments later. The document aims to educate on retirement planning options through a HECM and dispel common misconceptions about the program.
The document discusses final expense protection plans, which help cover funeral and other end-of-life expenses. It notes that the average cost of a funeral is $10,800. Final expense plans offer an affordable way to prepare for these costs through low-cost life insurance policies that pay out immediately. These plans provide peace of mind by relieving loved ones of the financial burden associated with death and can even offer additional benefits like scholarships for children.
This document discusses the importance of customer loyalty and its impact on revenue growth. It summarizes that loyal customers deliver new customers through positive referrals, while disloyal customers deter customers through negative referrals. The "Ultimate Question" is recommended to measure customer loyalty by asking customers how likely they would be to recommend a business to friends. Data shows that promoters, or highly loyal customers, spend more on average and bring in additional revenue through new customers referred. The document models how a drop in customer loyalty of even 10% could significantly reduce total customer worth and revenues for a business.
from selling a condo is taxable:
- Selling a condo for a profit is usually subject to capital gains tax, with half - How long the owner lived in the condo
the profit considered taxable income. However, profits from selling a principal - Pattern of buying and selling properties
residence are not taxable. - Reasons given for moving
- A real estate agent bought and sold a condo in Vancouver for a $30K profit - Other real estate activities and holdings
within a year, claiming it was his principal residence. - Credibility of the reasons provided
- The CRA discovered he had bought and sold 7 condos in 7 years.
This document describes a business model where an online company matches homeowners seeking mortgages with banks. It works as follows:
1. Homeowners search online for mortgages and submit their information as a "lead".
2. The company sends these leads to banks for free.
3. Banks pay the company a fee for each lead that results in a closed mortgage.
4. The company then pays a portion of these fees to the homeowners and to affiliates who referred the leads.
The company argues this benefits homeowners by potentially paying them for their mortgage lead, banks by providing qualified leads, and affiliates by earning commissions in the process.
Credit Union Fee Income Through Wealth Management Webinar Handouts | Money Co...NAFCU Services Corporation
This document discusses wealth management services that a credit union could offer to its members. It begins by asking what members' needs and fears are currently. Then it outlines demographic groups among members and the high, medium, and low needs they may have. The rest of the document discusses what wealth management entails, how a credit union can develop wealth management as an integrated platform, marketing and educational support available, sample seminar topics, compliance considerations, and technology solutions. It provides examples of three families' financial situations and returns under different wealth management strategies. The overall message is that wealth management can be a valuable service for credit unions to offer members.
The 2009 First-Time Home Buyer Tax Credit provides a tax credit of up to $8,000 for first-time home buyers who purchase a home between January 1, 2009 and December 1, 2009. The maximum credit is $8,000 or 10% of the home's purchase price. The credit phases out for single filers with incomes between $75,000 and $95,000 and joint filers with incomes between $150,000 and $170,000. Buyers do not repay the credit if they live in the home for at least three years.
Securing Retirement with a Reverse Mortgage:San Diego Mortgage and LoansJohn Kilby
This document discusses using a Home Equity Conversion Mortgage (HECM) or reverse mortgage to supplement retirement income. It provides an overview of HECM basics like eligibility, fees, and ways to access funds. Specific strategies are presented, such as using a HECM to hedge against home price declines or defer claiming Social Security benefits for higher monthly payments later. The document aims to educate on retirement planning options through a HECM and dispel common misconceptions about the program.
The document discusses final expense protection plans, which help cover funeral and other end-of-life expenses. It notes that the average cost of a funeral is $10,800. Final expense plans offer an affordable way to prepare for these costs through low-cost life insurance policies that pay out immediately. These plans provide peace of mind by relieving loved ones of the financial burden associated with death and can even offer additional benefits like scholarships for children.
This document discusses the importance of customer loyalty and its impact on revenue growth. It summarizes that loyal customers deliver new customers through positive referrals, while disloyal customers deter customers through negative referrals. The "Ultimate Question" is recommended to measure customer loyalty by asking customers how likely they would be to recommend a business to friends. Data shows that promoters, or highly loyal customers, spend more on average and bring in additional revenue through new customers referred. The document models how a drop in customer loyalty of even 10% could significantly reduce total customer worth and revenues for a business.
from selling a condo is taxable:
- Selling a condo for a profit is usually subject to capital gains tax, with half - How long the owner lived in the condo
the profit considered taxable income. However, profits from selling a principal - Pattern of buying and selling properties
residence are not taxable. - Reasons given for moving
- A real estate agent bought and sold a condo in Vancouver for a $30K profit - Other real estate activities and holdings
within a year, claiming it was his principal residence. - Credibility of the reasons provided
- The CRA discovered he had bought and sold 7 condos in 7 years.
1. The training covered essential skills for building a successful business such as networking, creating a business plan, identifying strengths and weaknesses, and tracking metrics.
2. It discussed important sales concepts like managing a sales pipeline, following up with clients, and using different closing techniques.
3. Maintaining metrics on activities like cold calls, appointments, and sales is important for improving performance over time.
The document discusses final expense protection plans, which are life insurance policies that help cover funeral and other end-of-life expenses. It notes that the average cost of a funeral is $10,800, and that these expenses must be paid immediately. It outlines the financial burden placed on a surviving spouse, including loss of income and medical bills. The document presents final expense protection plans as an affordable way to prepare for these costs and relieve one's family of this burden through a policy that is easy to get, has no medical exam, guaranteed rates, and pays benefits quickly. It also discusses plan options and additional benefits.
The document discusses final expense protection plans, which provide funds to cover funeral and other end-of-life expenses. It notes that the average cost of a funeral in 2008 was $10,800. Final expense plans offer an affordable way to set aside money for these costs without a medical exam. The funds are made available immediately to beneficiaries, unlike traditional life insurance which has a waiting period. The document provides examples of different types of final expense protection plans and their benefits.
On January 10th, Auburn’s Center for the Study of Theological Education hosted a webinar for financial aid officers, admissions staff and student personnel at theological schools on the latest government regulations for income-based repayment plans for federal educational loans. This information will assist financial aid officers and others who counsel students and recent graduates in repayment options as they move into ministry.
The document discusses the benefits of a reverse mortgage for seniors aged 62 and older. A reverse mortgage allows homeowners to convert equity in their home into tax-free cash without having to make monthly payments. Borrowers can use the funds for supplemental income, paying off debts, home repairs, or leaving an inheritance. The loan does not become due until the borrower dies or moves out permanently, and the FHA insures that no debt passes to heirs.
This document provides information about Trust Deed Scotland, a company that helps people in Scotland deal with problem debt through a government approved scheme called Trust Deeds. It explains that Trust Deeds allow individuals to reduce their total debt owed, pay back what they can afford over typically 36 months, keep their home and car, and have remaining eligible debts written off. It also answers frequently asked questions about Trust Deeds and alternatives available in Scotland.
Strength Financial is a financial services company that is passionately committed to empowering individuals to take control of their financial
future. We believe one of the keys to this is portfolio diversification. A well-diversified portfolio
generally should include investments that
provide a fixed rate of return that’s higher than insured bank savings accounts and CDs, but
doesn’t incur the risks of investing in stocks and
bonds.
Residential Southern California Joint VentureSam Ally
This document describes a joint venture program for real estate investors. It outlines two joint venture options - a traditional joint venture and a leveraged joint venture. The leveraged joint venture allows investors to purchase properties with up to 5x their capital commitment by using leverage. It provides examples comparing the financial outcomes of each option on a hypothetical $200,000 property purchase. The leveraged joint venture results in a higher return on investment for the investor compared to the traditional joint venture. Current real estate deal examples in California and Florida are also presented.
Providence wealth partners long term care strategiesBrandonSinger
Long-Term Care Protection Strategies - Everyone knows someone who has been affected by Long-Term Care needs. It could be parent, grandparent or other friend / family. Long-Term care comes in many forms such as in-home care, assisted living, skilled nursing & nursing home. Long-Term Care insurance ensures that your loved ones will have the care they prefer & can help protect against Medicaid spend-down.
Thank you to all who could make the webinar “New GFE/HUD-1, Mortgage Brokers Really Need to Know This Stuff", I have included the power point for you.
If you did not get a chance to attend, I’ll forward the web address once available.
Regards and thanks for all the great feedback!
The document provides guidance on surviving a job loss, including assessing expenses to cut, updating resumes, networking, and considering contracting work. It advises conducting a family meeting to discuss the situation, determining basic survival needs and expenses, cutting costs for items like energy and groceries, investing in skills training, and maintaining flexibility through options like contracting.
The document discusses strategies for businesses to implement shared or corporate-owned life insurance policies. It outlines how a business could jointly own a critical illness insurance policy with a key employee, with the business paying the premiums for the basic coverage and the employee owning the right to a return of premiums if no claim is made. The strategy provides advantages for the employer, employee and insurance advisor. It also discusses how businesses could share ownership of a life insurance policy and the legal and tax considerations involved.
This document discusses personal finance and the cost of consumer credit. It provides 7 steps for managing personal finances: 1) contribute to employer retirement plans up to the match, 2) pay off non-deductible, high-interest debt, 3) create an emergency fund of 6-8 months of expenses, 4) pay down tax-deductible debt like mortgages, 5) start saving early for children's education, 6) save for a down payment on a house using short-term CDs or money market funds, and 7) pay down tax-deductible debt like mortgages. It also reviews trends in consumer credit costs like interest rates and amounts financed for loans.
Advisor Reverse Mortgages Presentation Final 1.14Joe Conrad
Joe Conrad is a reverse mortgage specialist with over 25 years of experience, focusing on reverse mortgages for the last 8 years. He takes a comprehensive planning approach to reverse mortgages, carefully analyzing clients' cash flow, equity, and assets. He aims to provide great service to any clients referred by partners. The document promotes reverse mortgages as a way for advisors to provide more value to their clients.
A reverse mortgage allows senior homeowners aged 62 or older to convert equity in their home into tax-free cash payments, while continuing to live in their home. They do not require monthly mortgage payments or repayment of the loan until the last borrower permanently moves out or passes away. Common myths about reverse mortgages include that the borrower could lose ownership of their home or owe more than their home is worth, but reverse mortgages are structured to protect borrowers from these outcomes. Eligibility requires the home to be the borrower's primary residence and for them to receive counseling on reverse mortgage options and costs.
The document provides information about purchasing season tickets for Millwall FC football club for the 2012-2013 season. It lists the prices for season tickets in various sections of the stadium if purchased by April 18th, with savings of up to almost £300 compared to matchday ticket prices. It also provides instructions on how to purchase season tickets in person, online, or by phone and notes that proof of age is required for discounted tickets.
Jeff Christenson and Ike Devji of Christenson Wealth Management discuss an alternative to holding cash that protects assets from litigation. They describe a strategy using a universal life insurance policy and trust that provides similar liquidity to cash but protects the funds if the client is sued or dies. The strategy allows clients to earn interest, access funds quickly if needed, and pass the funds to beneficiaries tax-free.
Everything you wanted to know about reverse mortgages (but were afraid to ask)Joe Heale
The document provides information about reverse mortgages offered by HomEquity Bank. It discusses what a reverse mortgage is, debunking common myths, eligible uses of funds, product options including CHIP and Income Advantage, and how qualification amounts are determined. Key details include that no mortgage payments are required, homeowners retain ownership of their home, funds are tax-free, and homeowners can expect to have equity remaining when the loan is repaid.
This workshop will help you gain a basic understanding of how the homebuying and home financing process works. So you’ll know what to expect and be better able to make informed decisions.
The document discusses the Federal Home Buyer Tax Credit and encourages readers to take advantage of it before it expires. It provides details on tax credits of up to $8,000 for first-time buyers and $6,500 for repeat buyers. It notes that contracts must be in effect by April 30th and close by June 30th, 2010 to qualify. It also mentions that housing affordability is high and interest rates are low, making it a good time to buy or sell a home.
1. The training covered essential skills for building a successful business such as networking, creating a business plan, identifying strengths and weaknesses, and tracking metrics.
2. It discussed important sales concepts like managing a sales pipeline, following up with clients, and using different closing techniques.
3. Maintaining metrics on activities like cold calls, appointments, and sales is important for improving performance over time.
The document discusses final expense protection plans, which are life insurance policies that help cover funeral and other end-of-life expenses. It notes that the average cost of a funeral is $10,800, and that these expenses must be paid immediately. It outlines the financial burden placed on a surviving spouse, including loss of income and medical bills. The document presents final expense protection plans as an affordable way to prepare for these costs and relieve one's family of this burden through a policy that is easy to get, has no medical exam, guaranteed rates, and pays benefits quickly. It also discusses plan options and additional benefits.
The document discusses final expense protection plans, which provide funds to cover funeral and other end-of-life expenses. It notes that the average cost of a funeral in 2008 was $10,800. Final expense plans offer an affordable way to set aside money for these costs without a medical exam. The funds are made available immediately to beneficiaries, unlike traditional life insurance which has a waiting period. The document provides examples of different types of final expense protection plans and their benefits.
On January 10th, Auburn’s Center for the Study of Theological Education hosted a webinar for financial aid officers, admissions staff and student personnel at theological schools on the latest government regulations for income-based repayment plans for federal educational loans. This information will assist financial aid officers and others who counsel students and recent graduates in repayment options as they move into ministry.
The document discusses the benefits of a reverse mortgage for seniors aged 62 and older. A reverse mortgage allows homeowners to convert equity in their home into tax-free cash without having to make monthly payments. Borrowers can use the funds for supplemental income, paying off debts, home repairs, or leaving an inheritance. The loan does not become due until the borrower dies or moves out permanently, and the FHA insures that no debt passes to heirs.
This document provides information about Trust Deed Scotland, a company that helps people in Scotland deal with problem debt through a government approved scheme called Trust Deeds. It explains that Trust Deeds allow individuals to reduce their total debt owed, pay back what they can afford over typically 36 months, keep their home and car, and have remaining eligible debts written off. It also answers frequently asked questions about Trust Deeds and alternatives available in Scotland.
Strength Financial is a financial services company that is passionately committed to empowering individuals to take control of their financial
future. We believe one of the keys to this is portfolio diversification. A well-diversified portfolio
generally should include investments that
provide a fixed rate of return that’s higher than insured bank savings accounts and CDs, but
doesn’t incur the risks of investing in stocks and
bonds.
Residential Southern California Joint VentureSam Ally
This document describes a joint venture program for real estate investors. It outlines two joint venture options - a traditional joint venture and a leveraged joint venture. The leveraged joint venture allows investors to purchase properties with up to 5x their capital commitment by using leverage. It provides examples comparing the financial outcomes of each option on a hypothetical $200,000 property purchase. The leveraged joint venture results in a higher return on investment for the investor compared to the traditional joint venture. Current real estate deal examples in California and Florida are also presented.
Providence wealth partners long term care strategiesBrandonSinger
Long-Term Care Protection Strategies - Everyone knows someone who has been affected by Long-Term Care needs. It could be parent, grandparent or other friend / family. Long-Term care comes in many forms such as in-home care, assisted living, skilled nursing & nursing home. Long-Term Care insurance ensures that your loved ones will have the care they prefer & can help protect against Medicaid spend-down.
Thank you to all who could make the webinar “New GFE/HUD-1, Mortgage Brokers Really Need to Know This Stuff", I have included the power point for you.
If you did not get a chance to attend, I’ll forward the web address once available.
Regards and thanks for all the great feedback!
The document provides guidance on surviving a job loss, including assessing expenses to cut, updating resumes, networking, and considering contracting work. It advises conducting a family meeting to discuss the situation, determining basic survival needs and expenses, cutting costs for items like energy and groceries, investing in skills training, and maintaining flexibility through options like contracting.
The document discusses strategies for businesses to implement shared or corporate-owned life insurance policies. It outlines how a business could jointly own a critical illness insurance policy with a key employee, with the business paying the premiums for the basic coverage and the employee owning the right to a return of premiums if no claim is made. The strategy provides advantages for the employer, employee and insurance advisor. It also discusses how businesses could share ownership of a life insurance policy and the legal and tax considerations involved.
This document discusses personal finance and the cost of consumer credit. It provides 7 steps for managing personal finances: 1) contribute to employer retirement plans up to the match, 2) pay off non-deductible, high-interest debt, 3) create an emergency fund of 6-8 months of expenses, 4) pay down tax-deductible debt like mortgages, 5) start saving early for children's education, 6) save for a down payment on a house using short-term CDs or money market funds, and 7) pay down tax-deductible debt like mortgages. It also reviews trends in consumer credit costs like interest rates and amounts financed for loans.
Advisor Reverse Mortgages Presentation Final 1.14Joe Conrad
Joe Conrad is a reverse mortgage specialist with over 25 years of experience, focusing on reverse mortgages for the last 8 years. He takes a comprehensive planning approach to reverse mortgages, carefully analyzing clients' cash flow, equity, and assets. He aims to provide great service to any clients referred by partners. The document promotes reverse mortgages as a way for advisors to provide more value to their clients.
A reverse mortgage allows senior homeowners aged 62 or older to convert equity in their home into tax-free cash payments, while continuing to live in their home. They do not require monthly mortgage payments or repayment of the loan until the last borrower permanently moves out or passes away. Common myths about reverse mortgages include that the borrower could lose ownership of their home or owe more than their home is worth, but reverse mortgages are structured to protect borrowers from these outcomes. Eligibility requires the home to be the borrower's primary residence and for them to receive counseling on reverse mortgage options and costs.
The document provides information about purchasing season tickets for Millwall FC football club for the 2012-2013 season. It lists the prices for season tickets in various sections of the stadium if purchased by April 18th, with savings of up to almost £300 compared to matchday ticket prices. It also provides instructions on how to purchase season tickets in person, online, or by phone and notes that proof of age is required for discounted tickets.
Jeff Christenson and Ike Devji of Christenson Wealth Management discuss an alternative to holding cash that protects assets from litigation. They describe a strategy using a universal life insurance policy and trust that provides similar liquidity to cash but protects the funds if the client is sued or dies. The strategy allows clients to earn interest, access funds quickly if needed, and pass the funds to beneficiaries tax-free.
Everything you wanted to know about reverse mortgages (but were afraid to ask)Joe Heale
The document provides information about reverse mortgages offered by HomEquity Bank. It discusses what a reverse mortgage is, debunking common myths, eligible uses of funds, product options including CHIP and Income Advantage, and how qualification amounts are determined. Key details include that no mortgage payments are required, homeowners retain ownership of their home, funds are tax-free, and homeowners can expect to have equity remaining when the loan is repaid.
This workshop will help you gain a basic understanding of how the homebuying and home financing process works. So you’ll know what to expect and be better able to make informed decisions.
The document discusses the Federal Home Buyer Tax Credit and encourages readers to take advantage of it before it expires. It provides details on tax credits of up to $8,000 for first-time buyers and $6,500 for repeat buyers. It notes that contracts must be in effect by April 30th and close by June 30th, 2010 to qualify. It also mentions that housing affordability is high and interest rates are low, making it a good time to buy or sell a home.
New home buying seminar riddell and duncanswbcmarketing
This document provides an overview of the home buying process from obtaining mortgage pre-approval through closing on a new home. It outlines the key steps, including securing pre-approval, finding a home, making an offer, inspections, appraisal, underwriting, and closing. It also provides details on FHA and conventional financing options, down payment assistance programs, and requirements regarding credit, income, and property eligibility. The document was produced by SWBC Mortgage Corporation to guide first-time home buyers through their pathway to home ownership.
Remington Senior Funding: Introduction to Reverse Mortgagesremington
An Introduction to facts about Reverse Mortgages, including the most frequently asked questions and examples of how seniors are using Reverse Mortgages to supplement their income today.
A reverse mortgage allows senior homeowners to access equity in their home without making monthly payments. It provides funds via a monthly payment, lump sum, or line of credit. The homeowner retains ownership and can live in the home until passing away. The loan is repaid upon moving out or passing of the last surviving homeowner. Qualification requires being at least 62 years old, owning the home, and having sufficient equity. Costs of 5% of the loan amount are financed into the loan balance. Counseling is required to ensure the homeowner understands the product.
down payment? If so, you will need
mortgage default insurance (also called
CMHC insurance or Genworth insurance).
Mortgage default insurance protects
lenders if a borrower defaults on their
mortgage. It allows buyers to purchase
a home with a down payment of less
than 20% of the purchase price. The
insurance is usually paid as a one-time
fee and is rolled into the total mortgage
amount.
The cost of mortgage default insurance
depends on factors like the size of your
down payment, purchase price of the
home and type of property. Generally,
the smaller your down payment, the
higher the insurance premium will be.
Ask your l
This document summarizes the services of a credit restoration company. It offers to increase clients' credit scores by an average of over 50 points within six months by developing a personalized plan to address negative items on credit reports and educate clients on credit management. Key services include identifying credit goals, raising scores by disputing inaccurate or outdated negative information with credit bureaus and creditors, and monitoring progress to help clients qualify for loans, pay lower interest rates, and achieve their financial goals. The company claims a 70% average success rate in removing negative items from credit reports.
The document provides an overview and update on the Making Home Affordable Plan. It discusses that through August 2009, over 570,000 homeowners have received loan modifications through the Home Affordable Modification Program. However, the House Financial Services Committee wants to see more conversions of trial modifications by November 1st. It also outlines recent program updates, participation from large servicers, documentation requirements, and eligibility criteria to provide context on the plan from a housing counselor's perspective.
Jeff Edmisten and Ruthie Buck thank buyers for reviewing their homebuyer guide. Their mission is to connect buyers with the best home deals and provide uncompromising commitment to exceptional service. They help buyers search for homes, write offers, and guide them through the entire purchasing process. Their client testimonial praises how they went above and beyond to help secure a home across state lines. The guide provides tips on estimating home buying power from rent, benefits of ownership, choosing a lender and mortgage, the home buying process, and more.
This Good Faith Estimate provides borrowers with estimates of settlement charges and loan terms for a potential loan. It includes:
1) Key loan details like the loan amount, interest rate, monthly payment amount.
2) Estimated settlement charges categorized into origination charges and other settlement service charges.
3) Information on prepayment penalties, escrow accounts, interest rate adjustments.
4) Instructions for comparing the GFE to the final HUD-1 settlement statement.
This Good Faith Estimate provides borrowers with estimates of settlement charges and loan terms for a potential loan. It includes:
1) Key loan details like the loan amount, interest rate, monthly payment amount.
2) Estimated settlement charges categorized into origination charges and other settlement service charges.
3) Information on prepayment penalties, escrow accounts, interest rate adjustments.
4) Instructions for comparing the GFE to the final HUD-1 settlement statement.
Everything you need to know before you buy your first home. Includes steps of the process, descriptions of financing options, lender red flags and credit score information.
This document provides information for mortgage loan originators about mortgage insurance (MI) from Arch MI. It includes:
- An overview of MI and how it can increase buying power for borrowers by allowing lower down payments.
- Details on Arch MI's EZ Decisioning program which provides streamlined underwriting for certain loans.
- A comparison showing how Arch MI's MI premiums and costs compare favorably against FHA insurance.
- Requirements and guidelines for MI coverage levels from Fannie Mae and Freddie Mac.
- What documentation is required for delegated and non-delegated MI submissions to Arch MI.
The document serves as a resource for loan originators on the
This document provides information about federally insured cash accounts and reverse mortgages. It summarizes that these programs allow homeowners age 62 or older to tap into their home equity for cash without making monthly payments. The cash can be used for various expenses and is only repaid when the homeowner passes away or sells the home, with no liability for heirs. It encourages contacting Ginny Cooper at 800-554-4325 to learn more about qualifying and applying.
FHA Reverse Mortgage Purchase loan product designed for consumers 62 or older who want to downsize and buy a smaller home, but lack the income requirements for a conventional mortgage.
A decent presentation about Reverse Mortgages and how they work. I honestly do not remember where I got this from and I hope it is not a problem that I ma posting it.
This document provides an overview of reverse mortgages. It explains that a reverse mortgage allows homeowners aged 62 or older to borrow against their home equity and receive payments instead of making payments. The document outlines eligibility requirements, how much can be borrowed, payment options, interest rates, and the loan repayment process. It also summarizes the steps involved in obtaining a reverse mortgage, including education, counseling, application, processing, underwriting, and closing. Common questions about reverse mortgages are addressed.
This document summarizes the key details of a reverse mortgage program that allows seniors to access equity in their homes. It outlines that a reverse mortgage provides funds that do not need to be repaid until the home is no longer the owner's primary residence. The amount available is based on the home value, current interest rates, and the owner's age. The mortgage does not require monthly payments or put the owner at risk of foreclosure. It also reviews the application and approval process.
Listing Turkey - Piyalepasa Istanbul CatalogListing Turkey
We are working around the clock to transform a long-time dream into reality. As a result, Piyalepasa Istanbul will be the largest privately developed urban regeneration project in Turkey.
THE NEIGHBORHOOD WE HAVE BEEN LONGING FOR IS COMING TO LIFE
The good old days of the Piyalepasa neighborhood are being brought back to life with Piyalepasa Istanbul houses, residences, offices, hotels and a pedestrianized shopping avenue.
The wide streets of this 82.000 square meter development conveniently face the main boulevard in a prime Beyoglu location. “Piyalepaşa İstanbul” stands out as the only project designed to offer a neighborhood lifestyle, complete with its grocers, bagel sellers and greengrocer. Piyalepasa Istanbul has all the values to make it an authentic neighborhood, our very own community.
A NEIGHBORHOOD FULL OF LIFE, IN THE HEART OF THE CITY!
“Piyalepaşa İstanbul” is a “mixed-use” concept containing all the elements for a vibrant social life with houses, residences, offices, hotels and high street shopping.
“Piyalepaşa İstanbul” will take the liveliness of Istanbul into its heart. The elegant sparkle of Nisantasi, the young and colorful Besiktas, the variety and multicultural heritage of Istiklal Street will all be contained within the streets of this neighborhood.
“Piyalepaşa İstanbul” bears traces of the most beautiful examples of Turkish architecture from the Seljuks to the Ottomans and from Anatolia to Rumelia. With its graded facades, wide eaves, bay windows, pools, and interior courtyard systems, it offers a new living space without disrupting the city’s silhouette and neighborhood.
“Piyalepaşa İstanbul” is the new attraction of this splendid city.
TO BE AT THE CENTER OF ISTANBUL… THIS IS REAL LUXURY!
With its proximity to D-100 highway, connecting roads and tunnels, “Piyalepaşa İstanbul” is only minutes away from Kabatas, Besiktas, the Golden Horn and Karakoy.
“Piyalepaşa İstanbul” is close to the prestigious new Istanbul Court House, a major hospital, the Perpa trade center and the city’s most lively neighborhoods. With its shuttle service to Okmeydani Metrobus station, Sishane and the Court House subway stations, “Piyalepaşa İstanbul” will provide you with the most convenient transport connections.
https://listingturkey.com/property/piyalepasa-istanbul/
Anilesh Ahuja Pioneering a Paradigm Shift in Real Estate Success.pptxneilahuja668
Anilesh Ahuja journey is a testament to the power of vision, resilience, and unwavering determination. As a visionary leader, he continues to inspire and empower others to dream big and challenge the status quo. His legacy extends far beyond the realm of real estate, leaving an indelible mark on the industry and the world at large.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Living in an UBER World - June '24 Sales MeetingTom Blefko
June 2024 Lancaster County Sales Meeting for Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. VA Suspends Buyer Agent Payment Plan (article), 2. Frequently Used Terms in title, 3. Zillow Showcase Overview, 4. QuickBuy commission promotion, 5. Documenting Cooperative Compensation, 6. NAR's Code of Ethics - Mass Media Solicitations, 7. Is it really cheaper to rent? 8. Do's and Don't's when Terminating the Agreement of Sale, 9. Living in an UBER World
Stark Builders: Where Quality Meets Craftsmanship!shuilykhatunnil
At Stark Builders our vision is to redefine the renovation experience by combining both stunning design and high quality construction skills. We believe that by delivering both these key aspects together we are able to achieve incredible results for our clients and ensure every project reflects their vision and enhances their lifestyle.
Although we are not all related by blood we have created a team of highly professional and hardworking individuals who share the common goal of delivering beautiful and functional renovated spaces. Our tight nit team are able to work together in a way where we pour our passion into each and every project as we have a love for what we do. Building is our life.
Andhra Pradesh, known for its strategic location on the southeastern coast of India, has emerged as a key player in India’s industrial landscape. Over the decades, the state has witnessed significant growth across various sectors,
36,778 sq. ft. building; Zoning: SE (Suburban Employment): The (SE) District allows numerous commercial site uses; Passenger elevator; Private and common restrooms; Fully sprinkled; Data center with a grounded floor and a specialized HVAC system; 60 KVA back-up generator; Building/pylon signage; Potential to purchase adjacent parcels; Sale Price: $4,413,360
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Codename Fireworks developed by Kumar Properties is a new residential development that offers 2/3 BHK premium residences with easy access to proposed ring road, airport, metro station.
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Introduction to Dubai Real Estate | HJ Real Estatesalisholve901
Dubai, a global hub of innovation and luxury, is renowned for its dynamic real estate market, offering a blend of iconic skyscrapers, lavish residential communities, and state-of-the-art commercial spaces. HJ Real Estates is your gateway to navigating this vibrant landscape, providing expert guidance and comprehensive services to help you find the perfect property. Whether you are seeking a high-end apartment in the heart of the city, a serene villa in a tranquil neighborhood, or a prime location for your business, HJ Real Estates ensures a seamless experience tailored to your unique needs. Discover the unparalleled opportunities in Dubai real estate with us.
Introduction to Dubai Real Estate | HJ Real Estates
Steps To Homeownership English
1. The Steps to Homeownership
A Guide for First-time Homebuyers
Harris Homebuyers Guide
2. The Steps to Homeownership
GETTING STARTED
• 9 Easy Steps to Your Home Loan
• Homeowner Advantages and Responsibilities
• Pre-qualification Example
• Rent vs. Own Comparison
• Affordable Mortgage Products and Programs
• Fixed Rate vs. ARM Comparison
• The Application Interview
Harris Homebuyers Guide
3. The Steps to Homeownership
GETTING STARTED
• Good Faith Estimate
• Appraisal and Insurance
• Loan Approval and Closing
• Consumer Advice
• Harris Advantages
• Pre-qualification and Pre-approval
Harris Homebuyers Guide
4. The Steps to Homeownership
9 Easy Steps to Your Home Loan
1. Pre-qualification
2. Choose Your Loan
3. The Application
4. Income and Employment Verification
5. Credit Check
6. Asset Review
7. Appraisal and Hazard Insurance
8. Loan Approval
9. Loan Closing
Harris Homebuyers Guide
5. The Steps to Homeownership
Homeowner Advantages and Responsibilities
Advantages of homeownership
• Tax Savings
• Financial Investment
Responsibilities of homeownership
• Utility Costs
• Maintenance
• Appliance repair/replacement
• Possible structural repairs
• Home improvements
• Recordkeeping for federal income taxes
Harris Homebuyers Guide
6. The Steps to Homeownership
Pre-qualification
Pre-qualification is the process of estimating
the amount of mortgage you can afford.
• How much do I earn?
• How much do I owe?
• How much do I have available for the
downpayment, closing costs and reserves?
• How much can I borrow to purchase a home?
Harris Homebuyers Guide
7. Pre-qualification
How much do I earn?
Monthly Income
Combined Gross Wages of All
Borrowers (before tax deductions) $5,625.00
Alimony/Child Support -0-
Harris Homebuyers Guide
8. Pre-qualification
How much do I owe?
Monthly Payments
Auto Loans $550
Student Loans -0-
Credit Card Payments $100
Alimony/Child Support -0-
Harris Homebuyers Guide
9. Pre-qualification
How much money do I have available for the
downpayment, closing costs and reserves?
Bank Accounts $5,000
Gift from Relative $5,000
Grant -0-
Affordable Second Mortgage -0-
Harris Homebuyers Guide
10. Pre-qualification
Pre-Qualification Example:
How much can I borrow to purchase a home?
Loan Terms
Product Harris Homebuyer AdvantageSM
Loan Type Fixed Rate
Interest Rate 6.625%
Term 30 years
Downpayment 5%
Qualification Guidelines
Monthly Housing Expense Ratio No Limit
Monthly Recurring Debt Ratio 42%
Maximum Purchase Price $195,000.00
Downpayment $9,750.00
Maximum Loan Amount $185,250.00
Monthly Mortgage Payment
Principal and Interest $1,186.18
Real Estate Taxes $325.00
Hazard Insurance $40.00
Private Mortgage Insurance $120.00
Total Payment $1,671.18
Harris Homebuyers Guide
11. Savings and Advantages
Rent vs. Own Comparison—Savings/Advantages
Mortgage Rent
Fixed Rate
6.625%
30 years
$185,250.00
Principal and Interest Rent
Monthly Payment
$1,186.18 $1,200.00
Tax Bracket 28% 28%
After the first year…
283.51 -0-
Tax Savings
$902.67 $1,200.00
Net Payment
Harris Homebuyers Guide
12. The Steps to Homeownership
Affordable Mortgage Products and Programs
• Fixed rate and adjustable rate mortgage options
• 1- to 4-unit owner-occupied properties
• Annual household income limits
• No downpayment or low downpayments
• Gifts from relatives for downpayment or closing
costs
• Grants and second mortgages for downpayment
and/or closing costs
Harris Homebuyers Guide
13. The Steps to Homeownership
Affordable Mortgage Products and Programs
• Housing expense payment reserves
• Minimum credit scores
• Alternative credit sources
• Expanded guidelines for qualification
• Private Mortgage Insurance (PMI)
• Borrower pre-purchase education
• Closing cost discounts
Harris Homebuyers Guide
14. The Steps to Homeownership
Harris Affordable Mortgage Products and Programs
Harris offers a variety of affordable mortgage
products and programs for first-time
homebuyers.
• Harris Homebuyer AdvantageSM
• Home PossibleSM
• Harris Community CommitmentSM
• Harris New Home RewardsSM
• Alternative Identification MortgageSM
Harris Homebuyers Guide
15. The Steps to Homeownership
Fixed Rate vs. ARM Comparison
Fixed Rate Mortgages
• Interest rate and payment remain the same for the
life of the loan.
• Even if market conditions change, your interest rate
and your payment will not be affected.
Harris Homebuyers Guide
16. The Steps to Homeownership
Fixed Rate vs. ARM Comparison
Adjustable Rate Mortgages
• Because the initial interest rate is lower than a fixed
rate mortgage, your initial payment will be lower
and you may qualify for a larger mortgage amount.
• Your interest rate and your payment may increase
or decrease during the life of the loan, depending
on market conditions.
• An ARM with a lower initial rate of interest and an
adjustment period after five or seven years can
save you money.
Harris Homebuyers Guide
17. The Steps to Homeownership
What to Bring for an Application
Income
Assets: Downpayment, Closing Costs and
Reserves
Debts and Obligations
Property
Harris Homebuyers Guide
18. The Application
My Income
Income: How much money do I earn?
Borrower Co-Borrower
Wages $ _______________ $ _______________
Overtime _______________ _______________
Bonus _______________ _______________
Commission _______________ _______________
Social Security _______________ _______________
Pension _______________ _______________
Disability _______________ _______________
Alimony _______________
Child Support _______________
Dividends/Interest _______________ _______________
Other _______________ _______________
Total $ _______________ $ _______________
Harris Homebuyers Guide
19. The Application
My Debts and Obligations
How much money do I owe?
Borrower Co-Borrower
Revolving Credit Card $ _______________ $ _______________
Revolving Credit Card _______________ _______________
Revolving Credit Card _______________ _______________
Revolving Credit Card _______________ _______________
Car Loan _______________ _______________
Student Loan _______________ _______________
Line of Credit _______________ _______________
Alimony _______________ _______________
Child Support _______________ _______________
Other _______________ _______________
Other _______________ _______________
Total $ _______________ $ _______________
Harris Homebuyers Guide
20. The Steps to Homeownership
Credit Check
How have I paid my bills over time?
What is my credit score?
How can I improve my credit score?
What if I don’t have any established
credit?
Harris Homebuyers Guide
21. The Application
My Assets
How much money do I have available for the
downpayment, closing costs and reserves?
Borrower Co-Borrower
Checking $ _______________ $ _______________
Savings _______________ _______________
Money Market _______________ _______________
Certificates of Deposit _______________ _______________
Stocks/Bonds _______________ _______________
Gift Funds _______________ _______________
Grant Funds _______________ _______________
Affordable Second Mortgage _______________ _______________
IRAs _______________ _______________
401(k) _______________ _______________
Other _______________ _______________
Total $ _______________ $ _______________
Harris Homebuyers Guide
22. Savings and Advantages
Good Faith Estimate Example
Loan Type Fixed Rate
Loan Term 30 years
Loan Amount
$185,250.00
Interest Rate
Discount Points 6.625%
-0-
Appraisal
$250.00
Credit Report $ 15.00
Discount Points -0 –
Flood Certification $ 9.00
Tax Service Fee $ 55.00
$350.00
Underwriting Fee $400.00
Hazard Insurance Premium $475.00
Settlement/Closing Fee $905.00
Title Charges $100.00
Recording Fee
Total $2,559.00
Harris Homebuyers Guide
23. The Steps to Homeownership
Appraisal and Insurance
What is the value and condition of the property
that I want to purchase?
• An appraisal is a written report that describes the
property and estimates its value and marketability.
• Most homebuyers purchase homeowner’s
insurance which is a combination of coverage
(hazard insurance and personal liability)
Harris Homebuyers Guide
24. The Steps to Homeownership
Loan Approval and Closing
After your mortgage loan has been approved,
the final step to homeownership is the loan
closing.
• All mortgage and legal documents are signed, all
financial sums are paid, and ownership of the
property is formally transferred.
Harris Homebuyers Guide
25. The Steps to Homeownership
Consumer Advice
What is predatory lending?
Typical predatory loan features include:
• High interest rates
• Broker fees
• Unnecessary closing costs such as pre-paid life insurance
• Unaffordable repayment terms
Harris Homebuyers Guide
26. The Steps to Homeownership
Consumer Advice
How can I protect myself from a predatory lender?
• Comparison shop
• Choose a reputable lender
• Don’t borrow more money than necessary
• Choose a mortgage that meets your needs
• Don’t buy services that you don’t need
• Get the best terms that you qualify for
• If you don’t understand something, ask questions until
you are satisfied
• Get financial counseling if you need it
Harris Homebuyers Guide
27. The Harris Advantage
Harris Advantages
Friendly and knowledgeable Mortgage Specialists
A variety of products and programs for first-time homebuyers
Free pre-qualifications
Free pre-approvals
Pre-approvals with 120-day Mortgage Interest Rate Price Protection Option
Local processing, underwriting, closing and servicing
Low closing costs
The Harris No Surprises Mortgage® guarantee
Over 225 convenient locations in Chicagoland and Indiana
Harris Homebuyers Guide
28. The Steps to Homeownership
Pre-qualification and Pre-approval
Pre-qualification
• Your Mortgage Specialist estimates how much
money you can borrow to purchase a home and
what your monthly mortgage payment will be.
Pre-approval
• A pre-approval is a formal application for a home
loan.
• Realtors and builders prefer to work with buyers
who have been pre-approved for a mortgage
before they begin shopping for home
Harris Homebuyers Guide
29. The Harris Advantage
Homeownership….We Make It Possible!
Over the past century,
Harris has helped thousands of
families and individuals
finance their first home.
We can make homeownership
possible for you, too!
Thank you.
Harris Homebuyers Guide