Category: Loan Analysis

Prosperity Proof #2: Choosing the Right Mortgage

When choosing a mortgage loan, it’s essential to look at all of the facts. Buying a home is a huge financial decision. Being equipped with the right knowledge will ensure you and your clients have the right strategy. A 15-year mortgage has the appeal of a quick payoff, but is it better than a 30-year mortgage? Some people would say yes. We’ll show you how to figure it out. In this installment of Prosperity Proofs, we’ll compare a “typical financial planning mortgage” to a mortgage in line with the Prosperity

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Should I Borrow Against My Life Insurance Policy?

“Should I borrow against my life insurance policy?” Are you ever asked that question? I bet you are. Recently we conducted an annual review with a client.  This client is a transfer client.  They moved to our town about 8 years ago.  About the same time, their other advisor retired so we were lucky.  The conversation was very informative and because of the Truth Concepts calculators, the whole truth was easily demonstrated.  Let’s join the conversation partly through the review….. “I am going to purchase a new car this summer,”

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Is It Better to Rent A Home Or Buy?

In this article, I am going to tell you something you already know or may think you fully understand.  It starts with this question—is it better to rent a home or buy?  The overwhelming response to that question seems to be that it is better to purchase a house instead of renting one. Although I’m sure you answered that it is better to purchase a home, I am going to use Truth Concepts calculators to prove it to you. Don’t stop reading because you think you know it all.  Stick

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15-Year vs 30-Year Mortgage: Which is Better? (John & Jane Jones Pt. 4 of 9)

“I am so glad you two were willing to come back so soon after our third meeting,” I greeted John and Jane as they came into the office.  “There are a number of things I want to discuss with you, but before I do, do you have any questions?” “As a matter of fact, we do have something we wanted to talk to you about.  Since our meeting last week, Jane and I have decided we need to discuss more of our financial decisions with you,”  John said.  “We should

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The Myth of Zero Percent Financing for Cars (John & Jane Jones Pt. 2 of 9)

Both Jane and John Jones were smiling as they walked into my office for the second meeting with them.  The first meeting had gone well and I was excited to meet with them. After a few minutes of catching up and pleasantries, I asked John, “If you were talking to a good friend and they asked what our office was doing for you, what would you tell them?” John was contemplative for a moment and then started to speak. “Well the first thing I would tell them is that you

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Is it true there is a difference in a Life Insurance company’s “in advance” or “in arrears” loan rate?

The answer is NO. The insurance companies have really confused this issue ( In Advance vs In Arrears) because they mistakenly call it a “rate” when it is not. The in Advance “rate” should be called a factor because all it is for is to multiply the loan amount by to determine the payment when made up front. Any loan balance is charged the In Arrears rate (which is an actual rate) even if the loan payment is made in advance. The reason the loan payment is less is simply

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