Doug Jones's (dougj) Blog

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Mortgage and Lending - Mortgage Magic

ARCHIVED BLOG POSTS

2010 

Here is a chart that will help you to quickly calculate a 15 and a 30 year fully amortized loan payment. To use the chart multiply the loan amount without the last three digits and multiply by the factor. Example: $417,000 30 year loan at 4.75%......417 X 5.22 = $2176.74..This is about $1 off but...
12/20/2010
Let's compare a fixed rate loan with a LIBOR adjustable. I am not shopping for the best deal. I am using the same lenders rate sheet for the fixed rate loan and the adjustable rate loan. Today's fixed rate is 4.75%- using a 30 year term and a $417,000 loan amount that payment is $2175.27 The rate...
12/14/2010
The MLO exam surprised many California brokers. Because I have always been a lender I knew the law but I still get questions about it. Like W.C. Fields looking for "loopholes" to get into Heaven, Referrers are looking for loopholes to get paid for referrals.  In a nutshell---no, nein, niet--there...
12/13/2010
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This blog is not to be confused with Estate Taxes. The rules regarding estate taxes are completely different than gift taxes. For this blog the examples will be cash but any item of value can be used as a gift. Suppose a married couple has $4,000,000 cash and three children. Each parent can gift ...
12/13/2010
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Doug Jones

Mortgage Broker - NMLS 286668
local_phone(408) 975-2400
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