Before you join hand with this company, it is time to learn more about this firm first. This sector comes handy with unprecedented speed, where the average closing time is around 15 days. It further offers clients with unprecedented service. For that, you just have to contact Joseph Shalaby for help. There are no needs to contact processing centers or call centers for help. You will come across your dedicated loan consultant, always there to guide you right from first till last and available over the phone always. So, you can contact him anytime for matching your needs.
Mortgage terms : Closed mortgage – A mortgage that cannot be repaid or prepaid, renegotiated or refinanced prior to maturity, unless stated in the agreed upon terms. Closing costs – Costs that are in addition to the purchase price of a property and which must be paid on the closing date. Examples include legal fees, land transfer taxes, and disbursements. Debt service ratio – The percentage of the borrower’s income used for monthly payments of principal, interest, taxes, heating costs, condo fees (if applicable) and debts. GDS is gross debt service – how much you spend on Principal, Interest, Taxes and Heating. TDS is total debt service – GDS plus all other debt payment obligations. Default – A homeowner is ‘in default’ when he or she breaks the terms of a mortgage agreement, usually by not making required mortgage payments or by not making payments on time. Down payment – The money that you pay up-front for a house. Down payments typically range from 5%-20% of the total value of the home, but can be anything above 5%, if you qualify. Early Discharge Penalty – A penalty you may pay your lending institution for breaking the mortgage contract early. This is usually 3 months interest or the Interest Rate Differential (IRD), whichever is larger. See below for IRD.
Being careful with your money is very valuable. Here are some tips related to finance issues. While many credit cards come with the ability to transfer balances, a balance transfer credit card is one that offers a low introductory rate on balance transfers for a certain period of time. If you want to save money on a high-interest rate balance on an existing card, a balance transfer is a good way to go. Balance transfer interest rates vary – some are as low as 0 percent, but these usually have qualifiers such as a minimum of two transactions a month. The lower the promotional rate (and longer the promotional period) the more attractive the card is. However, you’ll often need good credit to qualify.
What Is a Payday Loan? A payday loan is a type of short-term borrowing where a lender will extend high interest credit based on a borrower’s income and credit profile. A payday loan’s principal is typically a portion of a borrower’s next paycheck. These loans charge high interest rates for short-term immediate credit. These loans are also called cash advance loans or check advance loans. More financial calculators at Current interest rates.
Terms: An unsecured loan is a loan that is issued and supported only by the borrower’s creditworthiness, rather than by a type of collateral, such as property or other assets. Credit cards, student loans, and personal loans are all examples of unsecured loans.
Encumbered asset: An item of value used as collateral or security for a loan, which has a registered interest against it, for example a property for which you have a mortgage is an encumbered asset. An unencumbered asset is one without any debt or interest registered against it, such as property for which you have paid off the mortgage. More financial info on Joseph Shalaby broker/ceo.
Plans and Expectations: Even though Hemlock has seen numbers jump in various areas over the past quarter, the fact that it missed analysts’ estimates may not bode well for investor confidence. Earnings estimates are forecast expectations of earnings or revenue based on projections, models and research into the company’s operations and most frequently published by financial analysts. Some companies will provide “guidance” of management’s expectations for future results. Even if a company sees an increase in profitability, if the actual earnings fall below expected earnings, the market will see to it that the stock price adjusts to the new information (read: drop in value.) This is due to the fact that estimates are usually built into the current price of a stock. Thus, when investors hear how a company “missed expectations” in spite of higher revenues being reported, the market corrects the price of the stock accordingly.
Interest Rate Differential – A way lenders calculate the penalty for discharging a mortgage before the end of a closed mortgage contract. The difference between the interest that the financial institution will make if you continued your mortgage to the end of the contract and what they will make by loaning it to someone else at the current interest rate. More on Reverse mortgage calculator. High ratio mortgage – A mortgage where the borrower is contributing less than 20% of the value of the property as the down payment. The borrower may have to pay a mortgage default insurance premium such as CMHC insurance, usually tacked onto the mortgage amount.