Pay pmi or higher rate
[DOC File]End of Chapter 19 Questions and Answers
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Answer: A mortgage investor needs to estimate when the mortgage will be pay off. The sooner the pay off the higher the yield if points are charged. Ideal pricing will set the contract rate for a no points loan equal to the effective yield on a loan with points and a lower contract rate for the average period that the loan is expected to be held.
[DOC File]MORTGAGE LENDERS AND MORTGAGE LOANS
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High risk it won’t be paid in future( higher discount rate used. Higher interest rate= lower present value( makes sense… ( if know you’ll earn 50 from a building 2 yrs from now and expect 8% ROR. PV= 50/(1+r)^2 = 43( can figure out how much you should be willing to pay
[DOC File]Private Mortgage Insurance (PMI)
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Private Mortgage Insurance (PMI) is required on all loan transactions where the loan-to-value ratio is 80 percent or greater. (Some cash-out refinance transactions require PMI at 75% loan-to-value.) This means that if you bought your house for $100,000 and had a down payment of less than $20,000, you pay PMI.
[DOC File]MAINE MORTGAGE LENDING FREQUENTLY-ASKED …
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A higher-priced mortgage loan is either a “non-traditional” mortgage loan (meaning, generally, a loan that allows a borrower to defer interest or principal), or a rate-spread mortgage loan, meaning that that the loan exceeds the average prime offer rate by 1.5 or more percentage points for loans secured by a first lien on a dwelling, or by ...
Chapter 07 Selecting and Financing Housing
PMI applies if the down payment is less than 20 percent. Bloom's: Knowledge Difficulty: Easy Learning Objective: 3 Topic: Finance of home buying 15. (p. 230) An approved mortgage application usually locks in an interest rate for 60 - 120 days. FALSE. Lock in periods usually range from 30 to 90 days.
[DOC File]Consumer Financial Protection Bureau
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If box 2 is checked, you will pay a higher interest rate and receive a credit to reduce your adjusted origination charge and other settlement charges. If box 3 is checked, you will be paying point(s) to reduce your interest rate and, therefore, will pay higher adjusted origination charges. Note: A point is equal to one percent of your loan amount.
[DOC File]THE XYZ - The Pensions Management Institute (PMI)
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You can choose to adjust the percentage rate you pay at the start of each Scheme Year to build up a higher or lower amount of pension. As a Non-Contributing Member (Category B) you do not pay any contributions to the Scheme. You built up pension benefits between 6 November 1997 and 3 July 2011, with a salary link underpin applying to these ...
[DOC File]images.kw.com
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The interest rate for Stated may be a little higher, but there can be extra flexibility in what you qualify for. Debt / Income Ratios A PITI/PITA max of 28% of income without considering other debt or 36% when all other debt payments are added used to be the standard …
[DOCX File]O P Q - The Pensions Management Institute (PMI)
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However, you will only be required to contribute at the rate of 5% of the pay that you are actually receiving. If you are absent for acceptable reasons (including those outlined above), you will continue to be covered for the life assurance benefit described on page 17 of this booklet.
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