Fha Loan Calculator

Home equity is a simple calculation that the bank performs to determine the type of lending value that a person has on their home equity line of credit. Subtract out the first mortgage balance when determining home equity with help from a financial specialist in this free video on home loans and money management.
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Expert: Matthew McKillen
Contact: www.innovativefg.com
Bio: Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients.
Filmmaker: Christopher Rokosz

Duration : 0:1:19

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http://www.realpro.la Conventional Financing and the buyer’s closing costs. The REALPRO for Windows program will accurately calculate these details for you, the real estate or mortgage loan professional, and your client. http://www.realpro.la/blog The down payment, loan, total payment and closing costs are calculated, including the APR

REALPRO is the only computer/software made exclusively for the Real Estate/Lending Industry to give you exact figures – anywhere you need them! Throw away your pencils, papers, calculators and charts!! REALPRO answers your client’s financing questions in a matter of moments … and prints them out, too!

The REALPRO System is preprogrammed to calculate these important functions and is the best way of plugging into the information that keeps you at the cutting edge of the Real Estate/Lending Industry.

Real Estate Agent Advantages

Listing Presentations

* Sellers net proceeds figured and printed in moments- all without looking up any charts
* You can show value of owner carry-backs in seconds
* Prequalify the house to determine income required to buy
* Prequalify the seller to determine what price range he can move up to
* Discuss all available financing options to show seller which is best for him
* Design flyers with finance options for other agents and their clients

Working With Buyers

* Print financing options & PITI (& PMI, if applicable) on any loan in moments
* Buyers costs itemized & printed with automatic title, escrow, credit report, appraisal & recording fees and more
* Prequalify clients so you know what properties you can show them
* Impress them with your professionalism so more choose you to be their agent

First Time Buyers

* Show tax advantages of home ownership
* Good Faith estimates in seconds
* Develop an Agent-Client rapport by offering important information and service

Open Houses

* Prequalify the house so that you know what income isrequired buy
* Prequalify the people who stop by to determine what properties you should show them
* Quote all financial options in seconds
* Moving-in costs are figured in minutes
* Turn customers into clients by offering the service and information necessary to make a Real Estate decision

For Sale By Owner (FSBO)

* Show why youre worth a full commission because you are professionally equipped and knowledgeable in ALL the ways to sell their home more quickly and with less hassle.
* Show them you can do what they cant: Financing Options � Prequalifying � Sellers Net � Buying vs. Renting

Floor Time/Up Desk Book

* Answer any financing questions
* Prequalify clients over the phone
* Be able to quote closing costs right at the up desk without ever looking up a chart
* Add finance options to upbook for your office agents or other agents who call in

Farming

* Show net proceeds to the seller in seconds
* Prequalify folks who may not have known what they could afford (Property Owners and Renters)
* Impress potential clients by being Different and Better than your competition
* Compare refinancing and selling in seconds, and asking which is best for you?

Duration : 0:3:27

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First Time Home Buyers use FHA Mortgage and Seller Paid Closing Costs to Buy Real Estate Now. Best Market Conditions for Foreclosures and Short Sales in Decades. Go To http://RealEstateMarketingThisWeek.com

Part 2 (Excerpt)

How having the Seller pay your closing costs can quadruple your money

On the other hand if you roll that into the loan it’s going to take you 160 months to break even on that. 160 months which is a little over 13 years, that is the antithesis of the Velocity of Money that we talk about on the show every week, so I am not convinced that its the right deal for the masses, but something that should be considered is what is the opportunity cost of taking the money out of Account X and the type of account you taking it out of has some impact too. If it’s from a brokerage account then you experience the market loss in that account and youre selling at these low price levels, I think the markets are going to turn and the opportunity costs over 160 months, youre talking about a substantial amount of money. And the additional mortgage payment is insignificant.

Obviously no one is going to allow you to pay more than the house is worth, that’s not what were suggesting. What were suggesting is merely to look at instead of simply making a lower offer than you would normally make, I’m suggesting that you consider the closing costs and what the real closing costs are in this example.

Assuming that the house is already attractively priced, one of the things that this buyer in this example should consider instead of making a lowball offer on a house that’s already priced rather attractively in this marketplace, it might make sense to consider exactly what you’re describing now. And that would be take that money or that difference and ask the seller to include those costs as part of the deal to sell the house, versus why lowball offer the house when you already know the house is the right price.

That’s exactly right and one of the other points here is in a lot of cases the closing costs dont need to be quite that high. So there is the opportunity for the home buyer to buy down, for instance, use 1% of the loan amount to buy the interest rate down. I did a calculation here today, the cost of funds changes all the time, in fact we had four price changes today. Four mortgage rate changes today, just in one day. This doesn’t apply in every scenario, but that’s why you use a certified mortgage planner, that’s why they use a FHA certified mortgage firm to do the loan to make sure that it’s the right thing to do but here’s the example of today. 1%, paying 1 point to buy the interest rate down will lower your mortgage payment, on this example of a $300,000 house, would lower your mortgage payment by $118 a month.

It’s not simple it’s not just like going to your local bank and having them give you a quote on the rate, there is so much more to it these days. I think that one of the things you’re pointing out right now is the fact that this type of negotiating exists and should be considered when making this purchase. And I know that you have already espoused that youre not a realtor in that sense, but your realtor should be talking to you about these options. If they are not, you may want to consider finding one who knows about that stuff.

They absolutely do and I’m not suggesting to anyone that they go out and find another realtor because yours is not working out for you. The reality of it is if your realtor doesn’t believe in the concept it may only be that they just don’t understand the concept. Have them give us a call, we can explain it to them. And I have simple illustrations we can share with them, how we would structure it financially, and they can, the realtor can set the price. That’s what their job is, but what our job is to make sure that you use every penny available to you to the best of your ability.

I have a question for you Brett, if you took $9000 and didnt take it out of your savings, 401K, or whatever, what will it turn into with today’s market? What would that be like?

Depending on the way the money is allocated, invested in a fixed income investment, or an interest-bearing account in a bank or whatever, what I can tell you is over the same amount of time, that $9000, over 160 months, youre probably talking about quadrupling the money. I would say that that is relatively easy and I’m not talking about taking on significant stock market risk. What I’m talking about is just compounding interest in some kind of interest-bearing account. I mean it could be a bank CD.

The other thing to do is we have this book called the Short Sale Playbook written by Ron Quinterro that we have available to anyone who is interested in it…

Duration : 0:6:12

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Expaining why it is important to put the toilet paper on the dispenser in the proper way, showing how much extra you are actually paying for your TP if you don’t and how this effects college planning.

Duration : 0:5:31

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This video shows us how mortgage acceleration software can help us achieve our financial goals by putting our finances on auto pilot.

Duration : 0:3:36

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In this video we compare refinancing our mortgage debt to accelerating it to see which one benefits us the most financially.

Duration : 0:5:30

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In this video we take a close look at refinancing mortgage debt and what it really does for us financially. After watching this short video you’ll understand why a lower interest rate is not always a good thing and why saving money each month may mean spending more time in debt. This is an eye opening look at a financial transaction that few homeowners really understand.

Duration : 0:5:4

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In this video, we take an in depth look at the cost of mortgage debt, our biggest yet often least understood debt. At the end of this video you’ll know how expensive mortgage interest really is, what your actual interest rate is and why every homeowner with mortgage debt needs a good mortgage acceleration strategy.

Duration : 0:6:36

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Coral Springs foreclosure Find thousands of Coral Springs http://www.homebanco.com/ #104 (Foreclosure) Homes For Sale with our database of “foreclosed” homes in Coral Springs and cheap investment “foreclosure” (SEARCH and VIEW VIDEOS)

Duration : 0:3:52

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A video demonstration showing how to calculate the time and money savings achieved by regular prepayments

Duration : 0:3:21

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