If you plan on purchasing a new home with a mortgage or refinancing your current loan or even getting a reverse mortgageyou will most likely need to order an appraisal. It might also be required for a home equity loan.
He wrote for Leasing News for over 15 years. He worked for ELFA and others. He was a teacher, writer, as well as conducted lease training and provided consulting for banks and funders for 54 years, as well as being a broker, funder, and at one time, a bank officer.
Recently he turned To celebrate, I looked through his columns he wrote and found this one from Usually customers have a fairly conventional 36 month, 48 month, or 60 month term, with level payments, in mind when we first meet them about leasing terms.
To set yourself apart from the crowd you should ask some probing questions to determine what structure would better serve the lessee and help your proposal to look more competitive.
Never launch into your sales pitch without first looking for the true needs of the customer. It may start in May and terminate in October creating a 41, or 53 month, lease.
A term that follows the actual term of use is attractive to the lessee because the expense stops when the equipment does. Next ask questions about the seasonally of the lessee's cash flow and their interest in arranging irregular payments that follows that seasonally.
They may prefer lease payments that follow the booking of revenue as opposed to the day they actually collect the cash. Or they may prefer to arrange lease payments when the cash is available.
If rent expense follows revenue then the transaction helps the customer to see a true margin. A need of management is to control the timing of expenses to manage true margins. You rate may not be as important as their control of cash flow. This expense is eliminated with properly structured irregular lease payments.
It is another selling point to lease. You should also ask if they have a budget and what they have placed in the budget for the lease payment. Ask about maintenance because when equipment is new it needs little if any maintenance but as it ages the cost of maintenance increases.
A classic need for higher payments in the beginning and stepping them down in the future.
Ask if the equipment is a replacement or an addition. If it is an addition then maybe a lower payment for the first six months or so would allow them to use the equipment to generate cash flow prior to making full payments.Use this Free Professional Mortgage Underwriter Cover Letter as inspiration to writing your own Mortgage Underwriter Cover Letter for a job application and resume to get hired!
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A “home appraisal” is a comprehensive report that determines the value of your property based on a number of factors, ranging from gross living space, to the view and the year a property was built.
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Over financial and investing definitions, with links between related terms. The reasons why you may need to write a letter explaining your bankruptcy and the type of things a prospective lender will want you to include in the letter to be convinced of your ability to fulfil your obligations as a lender.