Online Mortgage Lenders Are Beating Traditional Bank Loans #mortgage #calcualtor


#online mortgage companies

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Online Mortgage Lenders Are Beating Traditional Bank Loans

NEW YORK (MainStreet) — Traditional bank mortgages are losing ground to nonbank lenders, especially in cities with a hot housing market.

Seth James Ellis, 33, and his husband, Jared Ellis, 32, along with a third investor turned to Social Finance, Inc.. a San Francisco-based online lender, for a jumbo mortgage to purchase a $1.1 million, three-bedroom duplex in Berkeley, Calif.

”We didn’t expect to get this house, ” said Seth James Ellis, who works as a fundraiser in the Bay Area. “The emotional feeling in this market is that you’re never going to get the house that you want, because someone is going to come in with a higher cash offer.”

Non-traditional, non-bank lenders, such as SoFi as the online lender is commonly called. offer less conventional underwriting for residential mortgages and typically a shorter period to close because of the design of the loans, mortgage experts say.

”Your offer is as good as a cash offer in terms of the speed, and that was very important to us as a competitive advantages,” Ellis said in terms beating out other buyers in a sellers’ market.

The Ellis couple and their third-party investor closed on their Bay Area home within 15 days — a much shorter timeframe than the typical 30 to 45 days undertaken by traditional bank lenders.

”Traditional services are often slow and unresponsive and they cause a problem for some borrowers,” said Gregory Garrabrants, CEO and president of Bank of Internet USA (BofI), who adds a slow response time could cause borrowers to lose the ability to purchase a particular home.

Smaller and nonbank lenders are often not subject to the same federal safety and oversight that apply to larger traditional banks, such as Citigroup (C ) or Wells Fargo (WFC ). according to the Federal Housing Financial Association.

The FHFA reports that nonbank lenders have increased their share of overall mortgage originations in recent years. Inside Mortgage Finance. a publication that tracks mortgage data, estimates that nonbank lenders accounted for 37.7% of mortgage originations in the first quarter of 2014 — an uptick of 26% from the same quarter in the previous year.

Only five of the top 20 mortgage originators in 2006 are still active in today’s mortgage market, according to a recent Fannie Mae report.

Online lenders are changing the mortgage experience in the rapid sharing of information on mobile and online, said Bob Walters, chief economist at Detroit-based lender Quicken Loans .

”These lenders are not bound by geography or a brick-and-mortar network,” Walters said. “[They] look to gain the broad base that the internet brings,” Walters said.


Online Mortgage Lenders Are Beating Traditional Bank Loans #primary #residential #mortgage


#online mortgage companies

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Online Mortgage Lenders Are Beating Traditional Bank Loans

NEW YORK (MainStreet) — Traditional bank mortgages are losing ground to nonbank lenders, especially in cities with a hot housing market.

Seth James Ellis, 33, and his husband, Jared Ellis, 32, along with a third investor turned to Social Finance, Inc.. a San Francisco-based online lender, for a jumbo mortgage to purchase a $1.1 million, three-bedroom duplex in Berkeley, Calif.

”We didn’t expect to get this house, ” said Seth James Ellis, who works as a fundraiser in the Bay Area. “The emotional feeling in this market is that you’re never going to get the house that you want, because someone is going to come in with a higher cash offer.”

Non-traditional, non-bank lenders, such as SoFi as the online lender is commonly called. offer less conventional underwriting for residential mortgages and typically a shorter period to close because of the design of the loans, mortgage experts say.

”Your offer is as good as a cash offer in terms of the speed, and that was very important to us as a competitive advantages,” Ellis said in terms beating out other buyers in a sellers’ market.

The Ellis couple and their third-party investor closed on their Bay Area home within 15 days — a much shorter timeframe than the typical 30 to 45 days undertaken by traditional bank lenders.

”Traditional services are often slow and unresponsive and they cause a problem for some borrowers,” said Gregory Garrabrants, CEO and president of Bank of Internet USA (BofI), who adds a slow response time could cause borrowers to lose the ability to purchase a particular home.

Smaller and nonbank lenders are often not subject to the same federal safety and oversight that apply to larger traditional banks, such as Citigroup (C ) or Wells Fargo (WFC ). according to the Federal Housing Financial Association.

The FHFA reports that nonbank lenders have increased their share of overall mortgage originations in recent years. Inside Mortgage Finance. a publication that tracks mortgage data, estimates that nonbank lenders accounted for 37.7% of mortgage originations in the first quarter of 2014 — an uptick of 26% from the same quarter in the previous year.

Only five of the top 20 mortgage originators in 2006 are still active in today’s mortgage market, according to a recent Fannie Mae report.

Online lenders are changing the mortgage experience in the rapid sharing of information on mobile and online, said Bob Walters, chief economist at Detroit-based lender Quicken Loans .

”These lenders are not bound by geography or a brick-and-mortar network,” Walters said. “[They] look to gain the broad base that the internet brings,” Walters said.


What is a Traditional IRA? #traditional #ira, #what #is #a #traditional #ira, #open #a #traditional


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Traditional IRA

What is a Traditional IRA?

A Traditional IRA is an Individual Retirement Account to which you can contribute pre-tax or after-tax dollars, giving you immediate tax benefits if your contributions are tax-deductible. With a Traditional IRA, your money can grow tax-deferred, but you’ll pay ordinary income tax on your withdrawals, and you must start taking distributions after age 70 . Unlike with a Roth IRA. there are no income limitations to open a Traditional IRA. It may be a good option for those who expect to be in the same or lower tax bracket in the future.

Need IRA help? Call 866-855-5636 anytime.

  • Depending on your income level, Traditional IRA contributions may be deductible from your taxable income.
  • Age 59 and under: Taxes and 10% penalty apply.
  • Age 59½ to 70: Taxes apply, but no penalties.
  • Age 70½ over: Taxes apply, and distributions are required by law.

See which IRAs you’re eligible for, as well as their growth potential.
Use our Roth vs. Traditional IRA Calculator .

Compare different retirement accounts and learn their tax benefits and rules with our Roth IRA vs. Traditional IRA infographic.

Traditional IRA FAQs

Once you reach age 59 , you can withdraw funds from your Traditional IRA without restrictions or penalties. But keep in mind:

  • Your deductible contributions and earnings (including dividends, interest, and capital gains) will be subject to ordinary income taxes.
  • Once you reach age 70 , you must start taking Required Minimum Distributions (RMDs) each year from your Traditional IRA. You cannot redeposit your RMD.
  • You can take a premature distribution (known as a “60-day rollover”) from your Traditional IRA once in a 12-month period without penalty if you replace it within 60 days. If you don’t pay back the distribution within 60 days, you’ll have to pay ordinary income tax on the distribution.

If you’re under age 59 , the U.S. government charges a 10% penalty in addition to any ordinary income taxes due on early withdrawals from a Traditional IRA, and a state tax penalty may also apply. However, you may be able to file a “penalty exception” for any of these reasons:

  • First-time home purchase
  • Educational expenses
  • Disability or death
  • Medical expenses
  • Health insurance
  • Periodic payments
  • Involuntary distribution
  • Reservist distributions

Note that with all of these exemptions, specific requirements and restrictions apply. Please check with your tax advisor to see if you qualify.

Take the next step.


Arrow Pipeline Repair, Inc #trenchless #pipe #lining, #pipe #bursting, #jetter #service, #camera #inspection, #traditional #excavation


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  • Click here for our Capabilities Brochure PDF

We inspect, locate and repair sewer laterals.
If you�ve got a problem, we�ve got a solution!

There�s more than one way to repair a broken sewer or drain pipe. We provide all the options and then help you select the one that best meets your needs and budget.

  • The latest technologies: trenchless pipe lining, pipe bursting, jetter service, camera inspection, and traditional excavation.
  • Commercial, residential municipal
  • No job too small or too large
    Class-A Engineering license.
    We do Sewer repairs under public streets!
  • Septic to sewer conversions
  • 24/7 emergency service.

Serving all of San Diego County!

Towns we serve:

  • Carlsbad (Aviara, La Costa)
  • Chula Vista
  • Coronado
  • Del Mar
  • El Cajon
  • Encinitas (Cardiff-by-the-Sea, Leucadia, Olivenhain)
  • Escondido
  • Imperial Beach
  • La Mesa
  • Lemon Grove
  • National City
  • Oceanside
  • Poway
  • San Diego
  • San Marcos
  • Santee
  • Solana Beach
  • Vista

Trenchless Pipe Repair
Repairs Cracked or Broken Pipes
Without Major Excavation!
Puts new pipe inside your old pipes.

Arrow Pipeline Repair Services:

  • Sewer Repair
  • Septic to Sewer – Conversion
  • Trenchless Pipe Lining
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  • Excavation – Spot Repair or Open Cut
  • Drain Cleaning
  • Property Management Specialists
  • Emergency 24/7 Service 365 days a year
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  • Jetter Service
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Attention Contractors and Tradesmen


Online Mortgage Lenders Are Beating Traditional Bank Loans #what #is #the #mortgage #rate #today


#online mortgage companies

#

Online Mortgage Lenders Are Beating Traditional Bank Loans

NEW YORK (MainStreet) — Traditional bank mortgages are losing ground to nonbank lenders, especially in cities with a hot housing market.

Seth James Ellis, 33, and his husband, Jared Ellis, 32, along with a third investor turned to Social Finance, Inc.. a San Francisco-based online lender, for a jumbo mortgage to purchase a $1.1 million, three-bedroom duplex in Berkeley, Calif.

”We didn’t expect to get this house, ” said Seth James Ellis, who works as a fundraiser in the Bay Area. “The emotional feeling in this market is that you’re never going to get the house that you want, because someone is going to come in with a higher cash offer.”

Non-traditional, non-bank lenders, such as SoFi as the online lender is commonly called. offer less conventional underwriting for residential mortgages and typically a shorter period to close because of the design of the loans, mortgage experts say.

”Your offer is as good as a cash offer in terms of the speed, and that was very important to us as a competitive advantages,” Ellis said in terms beating out other buyers in a sellers’ market.

The Ellis couple and their third-party investor closed on their Bay Area home within 15 days — a much shorter timeframe than the typical 30 to 45 days undertaken by traditional bank lenders.

”Traditional services are often slow and unresponsive and they cause a problem for some borrowers,” said Gregory Garrabrants, CEO and president of Bank of Internet USA (BofI), who adds a slow response time could cause borrowers to lose the ability to purchase a particular home.

Smaller and nonbank lenders are often not subject to the same federal safety and oversight that apply to larger traditional banks, such as Citigroup (C ) or Wells Fargo (WFC ). according to the Federal Housing Financial Association.

The FHFA reports that nonbank lenders have increased their share of overall mortgage originations in recent years. Inside Mortgage Finance. a publication that tracks mortgage data, estimates that nonbank lenders accounted for 37.7% of mortgage originations in the first quarter of 2014 — an uptick of 26% from the same quarter in the previous year.

Only five of the top 20 mortgage originators in 2006 are still active in today’s mortgage market, according to a recent Fannie Mae report.

Online lenders are changing the mortgage experience in the rapid sharing of information on mobile and online, said Bob Walters, chief economist at Detroit-based lender Quicken Loans .

”These lenders are not bound by geography or a brick-and-mortar network,” Walters said. “[They] look to gain the broad base that the internet brings,” Walters said.


Online Mortgage Lenders Are Beating Traditional Bank Loans #calculate #a #mortgage


#online mortgage companies

#

Online Mortgage Lenders Are Beating Traditional Bank Loans

NEW YORK (MainStreet) — Traditional bank mortgages are losing ground to nonbank lenders, especially in cities with a hot housing market.

Seth James Ellis, 33, and his husband, Jared Ellis, 32, along with a third investor turned to Social Finance, Inc.. a San Francisco-based online lender, for a jumbo mortgage to purchase a $1.1 million, three-bedroom duplex in Berkeley, Calif.

”We didn’t expect to get this house, ” said Seth James Ellis, who works as a fundraiser in the Bay Area. “The emotional feeling in this market is that you’re never going to get the house that you want, because someone is going to come in with a higher cash offer.”

Non-traditional, non-bank lenders, such as SoFi as the online lender is commonly called. offer less conventional underwriting for residential mortgages and typically a shorter period to close because of the design of the loans, mortgage experts say.

”Your offer is as good as a cash offer in terms of the speed, and that was very important to us as a competitive advantages,” Ellis said in terms beating out other buyers in a sellers’ market.

The Ellis couple and their third-party investor closed on their Bay Area home within 15 days — a much shorter timeframe than the typical 30 to 45 days undertaken by traditional bank lenders.

”Traditional services are often slow and unresponsive and they cause a problem for some borrowers,” said Gregory Garrabrants, CEO and president of Bank of Internet USA (BofI), who adds a slow response time could cause borrowers to lose the ability to purchase a particular home.

Smaller and nonbank lenders are often not subject to the same federal safety and oversight that apply to larger traditional banks, such as Citigroup (C ) or Wells Fargo (WFC ). according to the Federal Housing Financial Association.

The FHFA reports that nonbank lenders have increased their share of overall mortgage originations in recent years. Inside Mortgage Finance. a publication that tracks mortgage data, estimates that nonbank lenders accounted for 37.7% of mortgage originations in the first quarter of 2014 — an uptick of 26% from the same quarter in the previous year.

Only five of the top 20 mortgage originators in 2006 are still active in today’s mortgage market, according to a recent Fannie Mae report.

Online lenders are changing the mortgage experience in the rapid sharing of information on mobile and online, said Bob Walters, chief economist at Detroit-based lender Quicken Loans .

”These lenders are not bound by geography or a brick-and-mortar network,” Walters said. “[They] look to gain the broad base that the internet brings,” Walters said.


Online Mortgage Lenders Are Beating Traditional Bank Loans #mortgage #rates #today


#online mortgage companies

#

Online Mortgage Lenders Are Beating Traditional Bank Loans

NEW YORK (MainStreet) — Traditional bank mortgages are losing ground to nonbank lenders, especially in cities with a hot housing market.

Seth James Ellis, 33, and his husband, Jared Ellis, 32, along with a third investor turned to Social Finance, Inc.. a San Francisco-based online lender, for a jumbo mortgage to purchase a $1.1 million, three-bedroom duplex in Berkeley, Calif.

”We didn’t expect to get this house, ” said Seth James Ellis, who works as a fundraiser in the Bay Area. “The emotional feeling in this market is that you’re never going to get the house that you want, because someone is going to come in with a higher cash offer.”

Non-traditional, non-bank lenders, such as SoFi as the online lender is commonly called. offer less conventional underwriting for residential mortgages and typically a shorter period to close because of the design of the loans, mortgage experts say.

”Your offer is as good as a cash offer in terms of the speed, and that was very important to us as a competitive advantages,” Ellis said in terms beating out other buyers in a sellers’ market.

The Ellis couple and their third-party investor closed on their Bay Area home within 15 days — a much shorter timeframe than the typical 30 to 45 days undertaken by traditional bank lenders.

”Traditional services are often slow and unresponsive and they cause a problem for some borrowers,” said Gregory Garrabrants, CEO and president of Bank of Internet USA (BofI), who adds a slow response time could cause borrowers to lose the ability to purchase a particular home.

Smaller and nonbank lenders are often not subject to the same federal safety and oversight that apply to larger traditional banks, such as Citigroup (C ) or Wells Fargo (WFC ). according to the Federal Housing Financial Association.

The FHFA reports that nonbank lenders have increased their share of overall mortgage originations in recent years. Inside Mortgage Finance. a publication that tracks mortgage data, estimates that nonbank lenders accounted for 37.7% of mortgage originations in the first quarter of 2014 — an uptick of 26% from the same quarter in the previous year.

Only five of the top 20 mortgage originators in 2006 are still active in today’s mortgage market, according to a recent Fannie Mae report.

Online lenders are changing the mortgage experience in the rapid sharing of information on mobile and online, said Bob Walters, chief economist at Detroit-based lender Quicken Loans .

”These lenders are not bound by geography or a brick-and-mortar network,” Walters said. “[They] look to gain the broad base that the internet brings,” Walters said.


Online Mortgage Lenders Are Beating Traditional Bank Loans #mortgage #reduction


#online mortgage companies

#

Online Mortgage Lenders Are Beating Traditional Bank Loans

NEW YORK (MainStreet) — Traditional bank mortgages are losing ground to nonbank lenders, especially in cities with a hot housing market.

Seth James Ellis, 33, and his husband, Jared Ellis, 32, along with a third investor turned to Social Finance, Inc.. a San Francisco-based online lender, for a jumbo mortgage to purchase a $1.1 million, three-bedroom duplex in Berkeley, Calif.

”We didn’t expect to get this house, ” said Seth James Ellis, who works as a fundraiser in the Bay Area. “The emotional feeling in this market is that you’re never going to get the house that you want, because someone is going to come in with a higher cash offer.”

Non-traditional, non-bank lenders, such as SoFi as the online lender is commonly called. offer less conventional underwriting for residential mortgages and typically a shorter period to close because of the design of the loans, mortgage experts say.

”Your offer is as good as a cash offer in terms of the speed, and that was very important to us as a competitive advantages,” Ellis said in terms beating out other buyers in a sellers’ market.

The Ellis couple and their third-party investor closed on their Bay Area home within 15 days — a much shorter timeframe than the typical 30 to 45 days undertaken by traditional bank lenders.

”Traditional services are often slow and unresponsive and they cause a problem for some borrowers,” said Gregory Garrabrants, CEO and president of Bank of Internet USA (BofI), who adds a slow response time could cause borrowers to lose the ability to purchase a particular home.

Smaller and nonbank lenders are often not subject to the same federal safety and oversight that apply to larger traditional banks, such as Citigroup (C ) or Wells Fargo (WFC ). according to the Federal Housing Financial Association.

The FHFA reports that nonbank lenders have increased their share of overall mortgage originations in recent years. Inside Mortgage Finance. a publication that tracks mortgage data, estimates that nonbank lenders accounted for 37.7% of mortgage originations in the first quarter of 2014 — an uptick of 26% from the same quarter in the previous year.

Only five of the top 20 mortgage originators in 2006 are still active in today’s mortgage market, according to a recent Fannie Mae report.

Online lenders are changing the mortgage experience in the rapid sharing of information on mobile and online, said Bob Walters, chief economist at Detroit-based lender Quicken Loans .

”These lenders are not bound by geography or a brick-and-mortar network,” Walters said. “[They] look to gain the broad base that the internet brings,” Walters said.


Online Mortgage Lenders Are Beating Traditional Bank Loans #mortgage #rates #indiana


#online mortgage companies

#

Online Mortgage Lenders Are Beating Traditional Bank Loans

NEW YORK (MainStreet) — Traditional bank mortgages are losing ground to nonbank lenders, especially in cities with a hot housing market.

Seth James Ellis, 33, and his husband, Jared Ellis, 32, along with a third investor turned to Social Finance, Inc.. a San Francisco-based online lender, for a jumbo mortgage to purchase a $1.1 million, three-bedroom duplex in Berkeley, Calif.

”We didn’t expect to get this house, ” said Seth James Ellis, who works as a fundraiser in the Bay Area. “The emotional feeling in this market is that you’re never going to get the house that you want, because someone is going to come in with a higher cash offer.”

Non-traditional, non-bank lenders, such as SoFi as the online lender is commonly called. offer less conventional underwriting for residential mortgages and typically a shorter period to close because of the design of the loans, mortgage experts say.

”Your offer is as good as a cash offer in terms of the speed, and that was very important to us as a competitive advantages,” Ellis said in terms beating out other buyers in a sellers’ market.

The Ellis couple and their third-party investor closed on their Bay Area home within 15 days — a much shorter timeframe than the typical 30 to 45 days undertaken by traditional bank lenders.

”Traditional services are often slow and unresponsive and they cause a problem for some borrowers,” said Gregory Garrabrants, CEO and president of Bank of Internet USA (BofI), who adds a slow response time could cause borrowers to lose the ability to purchase a particular home.

Smaller and nonbank lenders are often not subject to the same federal safety and oversight that apply to larger traditional banks, such as Citigroup (C ) or Wells Fargo (WFC ). according to the Federal Housing Financial Association.

The FHFA reports that nonbank lenders have increased their share of overall mortgage originations in recent years. Inside Mortgage Finance. a publication that tracks mortgage data, estimates that nonbank lenders accounted for 37.7% of mortgage originations in the first quarter of 2014 — an uptick of 26% from the same quarter in the previous year.

Only five of the top 20 mortgage originators in 2006 are still active in today’s mortgage market, according to a recent Fannie Mae report.

Online lenders are changing the mortgage experience in the rapid sharing of information on mobile and online, said Bob Walters, chief economist at Detroit-based lender Quicken Loans .

”These lenders are not bound by geography or a brick-and-mortar network,” Walters said. “[They] look to gain the broad base that the internet brings,” Walters said.