Owning a Home: Loan Options > Consumer Financial Protection Bureau #mortgage #qualifier


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Understand loan options

Chosen by 25-30% of buyers

What to know

Your monthly payments are more likely to be stable with a fixed-rate loan, so you might prefer this option if you value certainty about your loan costs over the long term. With a fixed-rate loan, your interest rate and monthly principal and interest payment will stay the same. Your total monthly payment can still change—for example, if your property taxes, homeowner’s insurance, or mortgage insurance might go up or down.

Adjustable-rate mortgages (ARMs) offer less predictability but may be cheaper in the short term. You may want to consider this option if, for example, you plan to move again within the initial fixed period of an ARM. In this case, future rate adjustments may not affect you. However, if you end up staying in your house longer than expected, you may end up paying a lot more. In the later years of an ARM, your interest rate changes based on the market. and your monthly principal and interest payment could go up a lot. even double. Learn more .

Explore rates for different interest rate types and see for yourself how the initial interest rate on an ARM compares to the rate on a fixed-rate mortgage.

Understanding adjustable-rate mortgages (ARMs)

Most ARMs have two periods. During the first period, your interest rate is fixed and won’t change. During the second period, your rate goes up and down regularly based on market changes. Learn more about how adjustable rates change. Most ARMs have a 30-year loan term .

Here’s how an example ARM would work:

5 / 1 Adjustable rate mortgage (ARM)

Fixed period

This “5” is the number of years your initial interest rate will stay fixed.

Common fixed periods are 3, 5, 7, and 10 years.

Adjustable period

This “1” is the how often your rate will adjust after the fixed period ends.

The most common adjustment period is “1,” meaning you will get a new rate and new payment amount every year once the fixed period ends. Other, less common adjustment periods include “3” (once every 3 years) and “5” (once every 5 years). You will be notified in advance of the change .

ARMs can have other structures. Some ARMs may adjust more frequently, and there’s not a standard way that these types of loans are described. If you’re considering a nonstandard structure, make sure to carefully read the rules and ask questions about when and how your rate and payment can adjust.

Understand the fine print. ARMs include specific rules that dictate how your mortgage works. These rules control how your rate is calculated and how much your rate and payment can adjust. Not all lenders follow the same rules, so ask questions to make sure you understand how these rules work.

ARMs marketed to people with lower credit scores tend to be riskier for the borrower. If you have a credit score in the mid-600s or below, you might be offered ARMs that contain risky features like higher rates, rates that adjust more frequently, pre-payment penalties. and loan balances that can increase. Consult with multiple lenders and get a quote for an FHA loan as well. Then, you can compare all your options.

Loan type

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Conventional, FHA, or Special programs

Mortgage loans are organized into categories based on the size of the loan and whether they are part of a government program.

This choice affects:

  • How much you will need for a down payment
  • The total cost of your loan, including interest and mortgage insurance
  • How much you can borrow, and the house price range you can consider

Choosing the right loan type

Each loan type is designed for different situations. Sometimes, only one loan type will fit your situation. If multiple options fit your situation, try out scenarios and ask lenders to provide several quotes so you can see which type offers the best deal overall.

Conventional

Majority of loans

Typically cost less than FHA loans but can be harder to get

FHA

Low down payment

Available to those with lower credit scores

Special programs

  • VA: For veterans, servicemembers, or surviving spouses
  • USDA: For low- to middle-income borrowers in rural areas
  • Local: For low- to middle-income borrowers, first-time homebuyers, or public service employees

Loans are subject to basic government regulation. Generally, your lender must document and verify your income, employment, assets, debts, and credit history to determine whether you can afford to repay the loan. Learn more about the CFPB’s mortgage rules .

Ask lenders if the loan they are offering you meets the government’s Qualified Mortgage standard. Qualified Mortgages are those that are safest for you, the borrower.

Know the Process


Best Tracker Mortgage Rates – UK Online Mortgage Broker – John Charcol #mortgage #calculation


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Best Buy Tracker Rate Mortgage Deals

A tracker rate mortgage is a type of variable rate mortgage that follow the movements of another rate. The most common tracker rate mortgage follows the Bank of England Base Rate. Tracker mortgages don’t exactly match the rates they track, but are at a usually offered at a set margin above that rate. For example if the base rate is 0.25% and your mortgage deal is offered at 1.5% over base your mortgage rate will be 1.75%. Tracker deals are usually available over a fixed period of time, for example 2- 5 years. After this time if you don’t remortgage you’ll be moved you’re your lender’s standard variable rate. However, you could opt for a lifetime tracker, which follows the base rate throughout the entire term of your mortgage.

Why speak to an adviser?

Before opting for a tracker rate mortgage it’s important to speak with an independent mortgage expert. Our advisers at John Charcol will be able to assist you in understanding what would happen if rates did rise and assess whether you would be able to afford for your monthly mortgage repayments. If you couldn’t then we’ll help suggest a mortgage better suited to your needs.

Current best tracker rate mortgage deals:

Total amount of credit

Total amount payable

Max Loan to value 85%: 2 Year 1.69% Tracker

1.69% – Bank Base Rate plus 1.44% for 2 years then 3.74% Variable for term

Total amount of credit

Total amount payable

Fees and charges:

Booking Fee 0

Arrangement fee 999

Valuation fee 0

Other fees 20

Flexibility:

Overpayments allowed? Unlimited

Early Repayment Charges No early repayment charge but a fee of £65 is payable when the mortgage is redeemed

Other info:

Exit fee 65

Basic legals Payable

Special Deal Free Standard Valuation. Free Legal Service for Remortgages.

Call now for more information: 0344 346 3672

Representative example A mortgage of £382,500 payable over 25 years on a repayment basis, initially on a tracker rate for 2 years at 1.69% (1.44% above Bank of England Rate, currently 0.25%, which will not go below a floor of 1.44%) for 2 years and then on a variable rate of 3.74% for the remaining 23 years would require 24 payments of £1,564.14 and 276 payments of £1,933.12. The total amount payable would be £572,164 made up of the loan amount plus interest (£188,580) and fees (£1,084 which includes exit fees of £65). The overall cost for comparison is 3.50% APRC representative.

Max Loan to value 60%: 2 Year 1.74% Tracker.

1.74% Barclays Bank Base Rate plus 1.49% for 2 years then 3.74%- Barclays Bank Base rate plus 3.49% for term

Call now for more information: 0344 346 3672

Representative example A mortgage of £292,500 payable over 25 years on a repayment basis, initially on a tracker rate for 2 years at 1.74% (1.49% above Barclays Bank Base Rate, currently 0.25% and then on a tracker variable rate of 3.74% (3.49% above Barclays Bank Base Rate, currently 0.25%) for the remaining 23 years would require 24 payments of £1,046.71 and 276 payments of £1,165.34. The total amount payable would be £348,179 made up of the loan amount plus interest (£76,755) and fees (£1,424 which includes exit fees of £80). The overall cost for comparison is 2.10% APRC representative.


Tracker mortgages #mortgage #payment #calculators


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Tracker mortgages

A mortgage that keeps your options open

A tracker mortgage has a variable interest rate that tracks your lender s base rate which is based on the Bank of England base rate for a set term.

This means that if your lender s base rate falls, your mortgage payments will decrease. However, if the rate goes up, your mortgage payments will increase. At the end of the tracker term, the interest rate will revert to your lender s Standard Variable Rate, unless you have a lifetime tracker mortgage.

Our tracker mortgages also give you the flexibility to switch to a Barclays fixed-rate mortgage whenever you want to, so you won t be tied to the tracker rate.

Is it right for you?

A tracker mortgage could be right for you if

  • You want your mortgage to reflect the market
  • You want to take advantage of the current low base rate
  • You can afford the possible increase in your monthly payments if the base rate goes up
  • You want the flexibility to overpay some of your mortgage each year without facing early repayment charges 2

If you want to know exactly how much your monthly mortgage payments will be, you ll probably be better off with a fixed-rate mortgage .

Calculate what you could borrow

Our mortgage calculator can help you determine how much you could afford to borrow and what your monthly payments may be.

You can also see how a change in interest rates would affect your mortgage payments with our mortgage base rate calculator .


Auto Loan Calculator Bankrate #commercial #mortgage #rates


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Of course, getting approval is dependent on a strict list of standards, for two explanations: to begin with, there has to be total certainty which the loan will be repaid with no hitch and next, there must be some reasoning from the application. The fruitful financial plan of Next Day Cash loans provides you full freedom from hectic and time-consuming Auto loan calculator bankrate formalities. No collateral is required to be placed with lenders.

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Even when you are carrying a risky past due to your bad credit history and very low credit rating, a new loan for urgency is within your reach. Depending upon the amount borrowed, applicants have to repay within the stipulated time which does Auto loan calculator bankrate not exceeds more than 10 years. What you need to do is just that fill-out online applications form with some personal details and then Auto loan calculator bankrate send it to the lender.

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Regular Strategy to Auto loan calculator bankrate obtain Monthly IncomePayday loans qualifications, like all other loan qualifications, require a regular way to obtain monthly Auto loan calculator bankrate income. They find it really very difficult to come out of the credit crunch. He might even hold multiple loans with either party.

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However, it is really very vital to select the most apt loan option suiting your needs, financial budget and repayment Auto loan calculator bankrate capacity.

Auto Loan Calculator Bankrate

Rated 4.4 /5 based on 2716 reviews

You can always shop around for a better package after that. However, for many small business owners, getting a short-term loan to meet current expenses is getting tougher and banks have become much stricter with their lending norms ever since the global recession began more than couple of years back. However, if you are opting for this payment mode, you have to pay off the principal amount in a shorter Auto loan calculator bankrate time period.

This is possible with our special loans. With all these criteria, one can easily obtain Auto loan calculator bankrate these loans with the aid of simple online application process.


Mortgage Qualifier Calculator Toronto #estimated #mortgage #payment #calculator


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Mortgage Qualifier Calculator

Are you tired of renting, and are now looking to purchase your first home? Making the first step towards owning a home is scary for many people, but understanding the requirements for a mortgage can help you avoid many of the mistakes made by first-time buyers.

The first step in buying your home is determining your budget. The mortgage qualifier calculator will show you how much you can afford if you fill in the entry fields correctly and click on the “Click to Calculate” button to view a complete amortisation schedule of the mortgage payments.

Here are some useful definitions:

Annual Income – For married couples, this refers to the total combined gross annual income. Generally, it is the combined gross annual income for the applicant and his/her co-borrower. Include all income before taxes, including bonuses, base salary, commissions, tips, overtime, investment income, rental income, child support, alimony, etc.

Annual taxes – This includes income taxes, property taxes, and any other taxes you and your partner are currently paying. The income tax is the annual tax placed on your income by the government, and can vary based on income, location, and other factors. If you are currently paying property tax on your home, the annual amount should also be included.

Monthly Condo Fees – This is the monthly fee charged for your condominium that you’re currently incurring.

Monthly Heating Cost – This is the total monthly payment for your current home’s heating bill. Although there are other monthly costs associated with properly running a house, such as cable, telephone, gas, water, etc. they are not incorporated in the calculation. However, you can include them for a more accurate estimate of your monthly payment.

Monthly Mortgage Details

Mortgage Payment (principle and interest) – This refers to the monthly principle and interest payment for your mortgage, and does not include the amounts for maintenance or property taxes.

Property Tax – This is the monthly property tax that you expect to pay on the home you want to purchase.

Monthly Condo Fees – Unlike the previous condo fees, this amount refers to the fee that you expect to incur with ownership of the home. Usually, 50 percent of your condo fee is added to your Gross Debt Service (GDS) when calculating the maximum mortgage you qualify for.

Monthly Heating Costs – The total monthly payment for the heating bill for the home you’re purchasing. You may choose to include other essential costs for running the home, such as water, cable, phone, etc.

Total Costs – This refers to every cost that you currently incur, including your monthly car loan payments, credit card payments, other loan payment, as well as the total closing costs, including the total upfront costs to close your loan, filing and appraisal fees, and any other miscellaneous fees paid.

Monthly Income Required (Approximate) – An estimate of how much you can afford to borrow in order to buy a home.

Like any estimate, the result of Mortgage Qualifier Calculator is based on some rules of thumb and rounded figures. Also, the calculator is meant to be a self-help tool for your personal use, and is not intended to offer investment advice. So, make sure to seek personalised advice from our qualified professionals regarding your personal finance issues.

Try these online tools to help make financial decisions that are right for you. Call us at 416-969-8130 if you need help, or would like more detailed information.

Income may not be necessary to qualify. Please call us for a personal consultation.

Related Links


Resource for Those With Bad Credit Trying To Get A Mortgage #cuso #mortgage


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Welcome to Bad Credit Mortgages

If you have been turned away in the past because of bankruptcy, bad credit, or sub-prime credit we are here to help. Bad Credit Mortgages is based on the belief that everyone deserves a mortgage.

Truth about bad credit

Did you know the average credit score in America is only 678?* That means the average American has less than perfect credit! If you have been turned away in the past, and are looking to start a new brighter future let us help. We specialize in finding home loans, refinance loans, and debt consolidation loans that will help you get back on the right track. You should also keep in mind that if you make your payments on your mortgage, your credit score will go up!

Bad Credit Mortgages

If you are looking to buy a home, or need to refinance your existing home, Bad Credit Mortgages is your one stop mortgage portal. We work with an extensive nationwide group of mortgage specialists that will find you the right mortgage loan. Just because you have bad credit doesn t mean that you shouldn t be able to get the mortgage you need.

Bad Credit Mortgages

If you are looking to buy a home, or need to refinance your existing home, Bad Credit Mortgages is your one stop mortgage portal. We work with an extensive nationwide group of mortgage specialists that will find you the right mortgage loan. Just because you have bad credit doesn t mean that you shouldn t be able to get the mortgage you need.


Mortgage Rate Definition #best #mortgage #rates


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Mortgage Rate

DEFINITION of ‘Mortgage Rate’

Mortgage rates are the rate of interest charged on a mortgage. They are determined by the lender in most cases, and can be either fixed, stay the same for the term of the mortgage, or variable, fluctuate with a benchmark interest rate. Mortgage rates rise and fall with interest rates and can drastically affect the homebuyers’ market.

BREAKING DOWN ‘Mortgage Rate’

A mortgage is the loan taken out to finance a home. It consists of multiple parts, including collateral. principal, interest, taxes and insurance. The collateral on a mortgage is the house itself, and the principal is the initial amount for the loan. Taxes and insurance vary according to the location of the home and are usually an estimated figure until the time of purchase. The interest charged is known as the mortgage rate.

Mortgage Rate Indicators

The biggest indicator for a high or low mortgage rate is the 10-year Treasury bond yield. If the bond yield rises, the mortgage rates rise as well. The inverse is the same; if the bond yield drops, the mortgage rate typically also drops. Even though most mortgages are calculated based on a 30-year timeframe, after 10 years, many mortgages are either paid off or refinanced for a new rate. Therefore, the 10-year Treasury bond yield is a good standard to judge.

The current state of the economy is also a good indicator for estimating a mortgage rate. If the economy is bad, investors turn to bonds to secure their money, and the bond yield drops. Mortgage rates become lower, and therefore more attractive to borrowers. If the economy is flourishing, investors seek other investment opportunities, and the bond yield rises, increasing mortgage rates.

Determining a Mortgage Rate

A lender assumes a level of risk when it issues a mortgage, for there is always the possibility a customer may default on his loan. There are a number of factors that go into determining the mortgage rate, and the higher the risk, the higher the rate. A high rate ensures the lender recoups the initial loan amount at a faster rate in case the borrower defaults, protecting the lender’s financial investment.

The borrower’s credit score can often play a role in the rate charged on a mortgage and the size of mortgage loan he is able to obtain. A higher credit score indicates the borrower has a good financial history and is more likely to repay his debts. This allows the lender to lower the mortgage rate because the risk of default is lower. The rate charged ultimately determines the overall cost of the mortgage and the amount of the monthly payment. Therefore, borrowers should always seek the lowest rate possible.


Paramount mortgage #calculate #monthly #mortgage


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While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied. New regulation, updated disclosures, appraisal guidelines, mortgage rate pric.
Read More.

Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your current house, or have been forced to relocate due to a job.
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Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property. A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection. However, th.
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Hey, I gave my real estate agent a $5000 Earnest Money Deposit check. Where does that money go? A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted. According to Wikipedia: Earnest Money – an earnest payment (sometimes called earnest money or simply earnest, or alternatively a good-.
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Buying a home versus renting is a big decision that takes careful consideration. While there are several biased sources that can make arguments for or against owning a home, we’ve found that most home buyers base their ultimate decision on emotion. Yes, there are some tax advantages of owning real estate, as well as the potential to earn equity.
Read More.

By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged. Many different occurrences can come into play to warrant the need for title insurance. The title company responsible wi.
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* Disclaimer – all information in this article is accurate as of the date this article was written * The FHA Mortgage Insurance Premium is an important part of every FHA loan. There are actually two types of Mortgage Insurance Premiums associated with FHA loans: 1. Up Front Mortgage Insurance.
Read More.

Getting a new mortgage for a First-Time Home Buyer can be a little overwhelming with all of the important details, guidelines and potential speed bumps. Since there are so many rules and steps to follow, here is a simple list of Do’s and Don’ts to keep in mind throughout the mortgage approval proce.
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For homeowners interested in making some property improvements without tapping into their savings or investment accounts, the two main options are to either take out a Home Equity Line of Credit (HELOC), or do a cash-out refinance. According To Wikipedia: A home equity line of credit is a loan in.
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Calculating the net benefit of refinancing can be a challenging task if you do not understand what to calculate. We are going to focus on the net benefits of refinancing from the standpoint of lowering your interest rate. Although there are several reasons to refinance, lowering your mortgage rate.
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Popular Mortgage Topics


Paramount Global M #mortgage #insurance #rates


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Hassle free investment

Investment secured by real estate

Stable cash flow

What We Invest

What is Mortgage Investment Corporation (MIC)?

Mortgage Investment Corporation or MIC is an investment and lending company designed specifically for mortgage lending in Canada. Governed by Section 130.1 of the Income Tax Act, MICs pay no corporate tax and act as flow-through entities and have to pay out all their taxable income in the form of dividends. Owning shares in a mortgage investment corporation enables you to invest in a company which manages a diversified pool of mortgages.

WHERE THE MONEY GOES

Sample Case 1: text123
Property location: Midtown, Torotno
Property Value: $1,500,000, Single family house
Borrowing Amount: $150,000
LTV: 77%
Term: 1Y
Return: 10%
Borrower info: Lawyer, Borrow money for closing his new house

Sample Case 2: Text123
Property location: Ajax, Ontario
Property Value: $600,000, Single family house
Borrowing Amount: $30,000
LTV: 84%
Term: 6 month
Return: 12%
Borrower info: Car mechanics, pay off debt

Sample Case 3: Text 123
Property location: Oakville, Ontario
Property Value: $900,000, Single family house
Borrowing Amount: $80,000
LTV: 81%
Term: 1Y
Return: 11%
Borrower info: Online business in cosmetics, renovating the house

Fund Fact

Management Team

VICKY HUANG (CEO)

Vicky is responsible for overseeing the day-to-day operations of the firm, building both new and existing business, and implementing overall strategy.

Vicky is the co-founder of Bay Street Real Estate Investment and Ubene Technologies. Vicky has developed a reputation for leading from the front line, working with teams and clients in developing and executing business plans which resulted in the advancement of the key strategic initiatives of each firm. Vicky had worked years in the capital market department of TD, RBC and IBM. Vicky obtained her Master degree from University of Toronto in 2005, and has completed the Real Estate Management Program from Harvard Business School in 2012.

Cindy Shen (President)

Cindy is a serial entrepreneur, with a passion for building financial companies and technologies to make lending easier and faster for everyone involved. Cindy has more than a decade of banking experience, and is a private lender herself, building a pipeline of deals exceeding 10 million in the first year. She is also CEO of a SAP technology company, servicing Fortune 500 clients in Canada and US. Cindy is a graduate of Ivey School of Business at the University of Western Ontario.

JEFF LEVY (Lawyer)

Jeff is responsible for advising and counselling on mortgages and mortgage transactions.

Jeff is the managing partner at and co-founder of Levy Zavet PC, Lawyers. Jeff is practicing primarily in the areas of real estate, mortgages, corporate law, corporate finance, mergers and acquisitions, tax law, commercial finance and estate planning. Jeff is extremely experienced in drafting mortgage loan agreements and structuring multi-collateral, diverse payments and elaborate recovery provisions in every unique situation. His long history of experience in mortgage enforcement, power of sale, and foreclosures, has given him the knowledge to foretell viable exit strategies at the loan origination stage of almost every single mortgage deal.

Investment Strategy & Risk Management

How to Invest

What types of mortgages does Paramount Global MIC invest in and where?

We offer 1st and 2nd mortgages up to a loan to value of 80%. We lend on residential property located in urban and suburban areas. We focus on properties that are highly marketable.

How does Paramount Global MIC find mortgage borrowers?

Paramount Global MIC focuses on residential properties in urban and suburban areas that are highly marketable. Paramount Global MIC’s clients are self-employed, new immigrants and borrowers with soft, poor or no credit. We mitigate the risk with our proprietary underwriting model

We deal strictly through licensed mortgage brokers and licensed agents. There are reportedly over 10,000 mortgage brokers and agents in Ontario. These represent our external sales force; identifying and referring mortgage.

Are Paramount Global MIC regulated?

Yes. In fact, in 1972, the Canadian government created provisions within the Residential Mortgage Financing Act to specifically allow for the creation of mortgage investment corporations. Paramount Global MIC is also specifically regulated by Financial Services Commission of Ontario (FSCO), the Ontario Securities Commission (OSC), along with other securities regulators. Generally accepted accounting principles (GAAP) also apply. In other words, we’re audited, regulated and adhere to strict financial guidelines.

How is the mortgage market regulated?

In the province of Ontario the Financial Services Commission of Ontario (FSCO) licenses and regulates all mortgage brokers, agents and administrators. The Manager is a licensed administrator in Ontario.

What are the benefits of MIC investing?

  1. Real Estate Security: Mortgages purchased by the MIC are secured by Canadian Residential Real Estate.
  2. RRSP /TFSA/RESP Eligible: Hold your RiverRock MIC in a self-directed RRSP/TFSA/RESP.
  3. Superior Returns: Earn 8% per year compared with 1% on GICs
  4. Professional Management: The managers of Paramount Global MIC have years of mortgage investment experience.
  5. Diversification: Investors own a diversified portfolio of mortgage loans.
  6. Regular Income: Investors receive their dividends on a monthly basis.

What risks are associated with investing in a MIC?

All our mortgages are registered on the title of the property. We know the market, and the homes you drive by everyday. We lend based on the appraisal value done by professional appraisers. Our maximum loan value ratio is set at 80%.

Our mortgages have the same legal security as the mortgages from banks or other institutional lenders. All related legal work is performed by a lawyer or notary public for Paramount Global MIC. There is no guaranty, however your investment will not fluctuate.

Although real estate investing is considered one of the safest investments, risks still exist in mortgage lending. All property investments are subject to elements of risk. Property value is affected by general economic conditions, local real estate markets, the attractiveness of the property to tenants, competition from other available properties and other factors. While independent appraisals are required before the corporation may make any mortgage investment, the appraised values provided therein, even where reported on an “as is” basis, are not necessarily always reflective of the market value of the underlying property, which may fluctuate.

The MICs’ income and funds available for distribution to security holders would be adversely affected if a significant number of borrowers were unable to pay their obligations. Upon default by a borrower,Paramount Global MIC may experience delays in enforcing its’ rights as lender and could incur costs in protecting its investment.

To mitigate these risks, the experienced team of Underwriters at Paramount Global MIC review every application to reduce the possibility of non-performing loans. Furthermore, strict loan to value guidelines and a proactive approach to collections ensure enough equity is available to recover outstanding loan balances in case of foreclosure.

When can I purchase my share? What is the minimum investment?

Preferred shares can be purchased at the beginning of every month. Our minimum investment is $10,000, once the minimum investment has been made, additional shares may be purchased with a minimum increment amount of $5,000.

Is my money locked in? What happens if I die or I need the money?

Paramount Global MIC has a 24 month redemption period with early redemption fee(4% within first year and 2.5% between first and second year). After 24 momths, an investor can withdraw their funds simply by advising us in writing so that a redemption notice received will be effective within 15 days of the end of the quarter following the quarter in which the redemption request is received.

For income tax purposes, the returns that our investors receive are treated as interest, not as dividends.

How do I invest funds from my RRSP, TFSA or RESP in Paramount Global MIC?

Paramount Global MIC h supports investments from within a variety of registered plan types. We have selected COlympia Trust Company as our trustees for this purpose, due in part to their excellent support for MIC investments.


Home Mortgage Loan Company #mortgage #repayment #calculator


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​Paramount Mortgage is an independently owned mortgage banking company serving the needs of borrowers since 1970. As we begin our 46 th year, we know the importance of integrity in doing business. Our customers and referral partners have come to “expect excellence” with Paramount; and we thank those who have helped us achieve this longevity.

As a customer of Paramount Mortgage you will get to know our team. We believe the right loan for you is one that reflects your personal financial goals. We are mortgage bankers, not brokers – we make our own credit decisions and fund our own loans. Our in-house processing, closing and underwriting staff allow us to be responsive to our borrowers and their agents.

Paramount Mortgage is a HUD approved lender and provides a full range of Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo loan and portfolio programs. The company is delegated FHA/VA, FHA 203K and USDA approved.

Paramount Mortgage Company headquarters are located at 347 N. Lindbergh Blvd. St. Louis, Missouri; with branch offices in Festus, Missouri, and New Port Richey, Florida. The company is licensed to provide residential mortgages in California. Florida. Illinois. Missouri. Texas and Washington .

Give us a call at 314-372-4300 or 800-735-5957. or contact one of Our Mortgage Experts .

Paramount Mortgage Company is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract) or any other protected class, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.

Any questionable accounting or auditing matters perpetuated by Paramount Mortgage Company or the management and staff thereof can be confidentially and anonymously reported to Paramount Mortgage Company External Audit Company by sending an email to the following address:

Paramount Mortgage Company is registered and licensed through the National Mortgage Licensing System – NMLS # 67856
To View our Public Page on NMLS Click Here

Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.