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Loan Options

Loan Options. Which loan is best for you? Team 7 By: Guy Canedo, Nathan Sheagley, Thomas Nashed. Responsibilities. Thomas Nashed - Organizer He will be gathering the information regarding each loan, and their differences.

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Loan Options

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  1. Loan Options Which loan is best for you? Team 7 By: Guy Canedo, Nathan Sheagley, Thomas Nashed

  2. Responsibilities • Thomas Nashed - OrganizerHe will be gathering the information regarding each loan, and their differences. • Guy Canedo – SummarizerHe will be taking the information and comparing and analyzing the data. • Nathan Sheagley – TechieHe will take the analyzed data and present it graphically and understandingly on PowerPoint.

  3. What Are We Doing? When buying a house, one comes across several different loan options. We will distinguish the differences between them and give each ones advantages and disadvantages. The loan options we will cover are: • Fixed Rate Loan • Interest Only Loan • Adjustable Rate Mortgage (ARM)

  4. Scenario Assuming we want to buy a $500,000 house in Pomona, California. • Which loan would be best if we decided to only live there for a few years. • Which loan would be best if we wanted to live there for a long term. • Which loan would be best if we didn’t know the term of our stay.

  5. Resources • Interest Rate Quotes from the Bank • Internet research on appreciation of house values. • Interview with a former Mortgage consultant.

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