Mortgage Planning provides a comprehensive mortgage solution to and . Mortgage planning allows you to look at your overall financial picture and see exactly which mortgage program fits best with your short and long-term plans. The goal of mortgage planning is to help you understand the different types of loans available and how each one can affect your financial situation in various ways.
Through a series of informative reports, our take you through every loan detail that may affect your financial health, including: , monthly payment, and much more. Best of all... there is absolutely no extra cost for these reports!
Mortgage Planning Reports
Total Cost Analysis
Selecting the right mortgage program can save you thousands of dollars over the life of the loan. Using this insightful analysis, you will see the total cost of various loan programs and be able to choose the mortgage product that is most advantageous to you.
Debt Consolidation Analysis
Consolidating multiple high-interest loans or into one lower interest rate loan can save you hundreds of dollars each year, not to mention the peace of mind that comes with a single, lower payment. You can use this analysis to make an informed decision about your debt structure.
Rent vs Own Analysis
Analyzing the many benefits of versus the recurring costs of renting will show you how buying a home can positively impact your long-term asset accumulation.
Rate Watch Report
Tracking current rates and new loan products as they become available can save you even more money for years to come. We are committed to securing the lowest interest rate and best mortgage product for each person today. With this report, we will keep track of the market and let you know when a better rate or program becomes available.
Advanced Mortgage Planning Reports
Equity Repositioning Analysis
Discover how small changes in your mortgage structure can dramatically increase the value of your total investment over your lifetime. You can make informed decisions regarding your mortgage with long-term goals in mind.
Annual Equity Review
Maintaining a close watch on the chosen mortgage plan will keep you on track with the financial goals you've set forth, and will allow for any changes to be made to the mortgage or mortgage plan based upon your changing needs. This complimentary review helps you stay focused on your goals and make adjustments if necessary.
To find out more about this revolutionary new service, , and get a new perspective on your next home loan.
The London Interbank Offered Rate (also known as LIBOR) is an benchmark. It is published and formulated on a daily basis by the British Bankers Association and is used as a reference rate for a number of different sectors and financial instruments.
Use with Mortgages
Over the past decade, the LIBOR has increasingly been used as the reference index for calculating interest rate changes on American . As with any interest rate benchmark, the LIBOR can increase or decrease, depending on various international market factors.
There are in fact several LIBORs. Each one is associated with a different deposit maturity period. Adjustable rate are commonly tied to the 6-month LIBOR, which, as the name suggests, changes every 6 months. An adjustable rate mortgage tied to the 6-month LIBOR usually sees an interest rate change every 6 months. When that change occurs, the most recent 6-month LIBOR rate is used, in conjunction with the mortgage's , to formulate the new mortgage interest rate. If the most recent 6-month LIBOR was 5% and a mortgage's margin is 2%, the new interest rate for that mortgage will be 7%, assuming it doesn't exceed the mortgage's rate adjustment cap.
Neither the LIBOR nor any other interest rate benchmark influences . Such reference rates only influence adjustable rate mortgages.
Valuable Information
When applying for an adjustable rate mortgage, always identify which interest rate benchmark the mortgage will be tied to. Also check the mortgage's margin, the introductory fixed rate period and whether the mortgage has any . These valuable pieces of information will empower you when you are negotiating with multiple lenders.
If you feel overwhelmed by the LIBOR, , and similar concepts, you can consult with a . Better still, contact a , who will help you select the best mortgage for your financial goals, and show you how to use your mortgage to secure your home and plan for the future.
For most people, a is one of the biggest investments they'll make. And unless you, as a , can pay for a home outright, you'll need to take out a . A key element of a mortgage is its interest rate. The interest rate determines how much extra money you'll pay the lender for the priviledge of lending you the money for your home. Therefore even small differences between interest rates can have a dramatic impact on how much extra money you spend over the lifetime of the loan.
Fixed Versus Adjustable
In the mortgage world, interest rates are basically either or . Fixed interest rates stay at a static rate for a given period of time. For a 30-year fixed mortgage, the interest rate stays the same for the entire lifetime of the loan. This means that, excluding and , the monthly mortgage payment does not change throughout the 30-years the mortgage is being paid off.
Adjustable interest rates change periodically, depending on the reference index they are based on. For example, mortgages using the 6-month will experience interest rate changes every six months. Such an interest rate change translates into an increase or decrease in the mortgage's minimum monthly payment, depending on whether the interest rate has risen or fallen since the last benchmark. The higher the rate change, the more dramatic the payment increase will be.
Mortgage Interest Rate Ramifications
The general direction in which interest rates are heading can have a massive impact on the . Higher interest rates cut into how much home one can afford, and this in turn impacts supply and demand. Although other factors also impact housing, as mortgage interest rates rise, demand for housing generally decreases and prices fall. Likewise, a drop in interest rates encourages people to buy or refinance homes, which raises prices. The housing boom that started around 2001 was primarily driven by a sharp drop in mortgage interest rates.
Getting the Right Rate
For the most homeowners, these broad interest rate trends can determine which home they buy, or whether they buy at all. Mortgage interest rate changes also indirectly impact how much they have. So the importance of finding a mortgage with a favorable interest rate are clear. Homeowners and buyers looking for a great low rate should consider the services of . ALP offers you up to from a national network of trusted lenders. You fill out one easy form, and then negotiate with multiple lenders to find the best rate and terms.
Homeowners and first time buyers who need extra help, and people who are interested in learning how their mortgage can impact their long-term financial plans, should contact a . These trained, experienced mortgage professionals can not only get you a great rate, but also provide a level of guidance and insight that is beyond the scope of a traditional mortgage broker.
A mortgage broker is a licensed individual who acts as an intermediary between a and a mortgage company. A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make loans, but receives payment, usually in the form of a commission, for facilitating the loan transaction between the borrower and the lender.
Mortgage brokers take applications from potential borrowers, complete all of the necessary paperwork and obtain any required documentation, shop the package around to various lenders, obtain quotes from lenders, and present them back to borrowers. They may also perform additional services such as arrange for appraisals, order title searches and inspections, and provide other legal services as required. These additional services may or may not be included in the broker's fee.
Services offered by a Mortgage Broker
A mortgage broker generally offers the following services:
Quotes
Explains mortgage program
Provides a good faith estimate
May send a newsletter
In states where licensing is required, a mortgage broker also must complete annual continuing education to maintain their license in good standing.
The Mortgage Planner Difference
Take a moment to compare an to a traditional or mortgage broker and you'll see there's a tremendous difference!
America's Lending Partners Mortgage Planners are mortgage experts who have taken their careers to a higher level through extensive training in home financing, real estate management and ethical business practices. They analyze a customers' personal situation and prepare a Mortgage Plan tailored to fit their individual needs. And best of all...there's absolutely no additional cost for this service!
about America's Lending Partners Mortgage Planning service.
