When choosing the right mortgage, whether you’re a couple buying your first home or on to your third home, it’s essential to look at all the facts. Buying a home is a huge financial decision. Being equipped with the right knowledge will ensure your clients have the right strategy. A
There’s a lot of buzz around using life insurance cash value for loans—some of it rooted in truth, and some driven more by marketing hype than math. Like many financial decisions, this one depends on the situation. Here’s my take, with a few made-up numbers to illustrate what I mean.
Sometimes, life insurance companies differentiate how interest is applied to policy loans by using the terms “in Advance” or “in Arrears.” This has led to the common question: is there a difference in the rate and how the company applies it to your loan balance? The answer is a resounding
If you use the Loan Analysis calculator, you’re likely familiar with the “Loan View” provision. This enables you to do a side-by-side comparison of two loans, or view each loan individually. There’s also a fourth option: “Opportunity Cost.” The function of this button is to more clearly show
Do you have a client who’s looking to create an amortization schedule for their policy loan? You can actually create one for them in the Loan Analysis calculator that’s fast and simple. You can even print it out for the client to track themselves. Creating an Amortization Schedule The great
Merriam-Webster defines inflation as the continuing rise in prices, usually caused by an increasing volume of money in the economy. This means that purchasing power decreases over time. Gas and groceries are time-tested examples. In the 1950s, a gallon of gas or a loaf of bread cost under a dollar.
While the update may seem small, it has a huge impact on user friendliness. The update in question is a new “right-click” feature that does some simple math for you. That way you don’t have to fuss with the copy/paste function if you don’t want to. In a mortgage comparison,
What’s the major reason that people want to have their house paid off? In most cases, people fear a scenario where they can’t pay their mortgage, so they spend more money up front. Too often, this puts them in the scenario they were trying to avoid. It all comes down
How do you calculate the remaining number of months on a loan? This Loan Analysis “hack” makes it simple to determine, all you need is the remaining loan balance, the rate, and the monthly payment. For example, let’s say your client had a remaining loan balance of $50,000 and they’re
When analyzing deals, you must pay attention to more than the interest rates alone. In the past few weeks, GM published an offer for a 2020 Escalade. The offer was either for 2.99% APR, or a $9,500 rebate. Is the offer all it’s cracked up to be? Let’s find out.