Jubilee Church Atlanta Building Financing Plan

Size: px
Start display at page:

Download "Jubilee Church Atlanta Building Financing Plan"

Transcription

1 Jubilee Church Atlanta Building Financing Plan May 29, 2012 Project Summary: The purpose of this memo is to outline an investment opportunity for persons interested in assisting Jubilee Church Atlanta (JCA) to raise funds to acquire, retrofit and furnish a 15,400 SF former medical office building into a meeting space and event center for the Church. The property JCA would like to develop is a valuable commercial location in Woodstock, GA which is properly zoned for the Church s intended use. JCA has negotiated a purchase agreement with the seller, commissioned building plans and prepared construction cost estimates. The Church has already raised approximately $240,000 in giving and other available sources, but has been unable to secure conventional mortgage financing at acceptable terms to fund the balance of acquisition and renovation costs. JCA is instead seeking to raise approximately $500,000 from individual investors. Terms of the agreement JCA is proposing to offer investors are described in the following pages. Financing Sources/Uses: Financing Requirements/Uses Purchase Price (Building Shell with partially usable MEP Systems) $ 450,000 Building Renovations $ 230,000 AV, Furnishings and Signage $ 20,000 Architectural, Legal and Closing $ 25,000 Total Uses: $ 725,000 Sources Accumulated Church Giving and Pledged Contributions $ 240,000 Minimum Financing Required for Completion $ 485,000 Total Sources: $ 725,000 *Minimum additional financing required to purchase building $ 235,000 * (Estimated balance needed to proceed to closing and acquire/hold the building.) Financing sources/uses for the project are outlined above. JCA believes that this building will not only meet the physical meeting space needs of the Church, it will also provide a significant resource to serve the community, support existing/future ministries and generate additional income. Although JCA can comfortably carry the estimated mortgage and other occupancy costs, the Church s goal is to develop and implement a business plan to make the building financially self-supporting by renting space for weddings, meetings and other functions. Interior renovations are being designed in a manner that will preserve the property s long-term suitability for conversion back to commercial or office uses. More information about the property and JCA s financial capacity to undertake the project is provided in Attachment A. 1

2 Proposed Investment Structure: As an alternative to conventional bank financing, JCA is seeking participation from individual investors to capitalize a building fund. JCA will make monthly repayments at a fixed rate of 5.5%, which is competitive in the commercial mortgage market. Those payments would be distributed proportionally to individual investors by a trustee. The goal of the fund is to provide a financial win-win for both JCA and investors who would receive monthly interest income that is well excess of conventional savings, money market accounts, CD s or conservatively invested retirement savings. The fund would be set up by an attorney to provide appropriate protections for participants and will be secured by the as developed value of the real estate, which should well exceed needed financing (see Attachment A). The fund will also be structured to qualify as an eligible investment vehicle for self-directed individual retirement accounts. If the model is successful in this case, it could be replicated to provide individuals with future opportunities to invest in the growth of New Frontiers and its individual Churches. The goal of the fund is to enable JCA to bridge a near term financing gap until such time that the Church is able to secure conventional financing and fully repay investors. JCA would execute agreements with individual investors whereby the Investors agree to commit funds for a maximum of five years. However, within a time window starting in month 37 JCA will monitor market conditions and will act to secure conventional permanent financing to repay the outstanding principal balance when market conditions warrant. Investors could be fully repaid at any time within a window of 37 to 60 months as determined by JCA and its ability to secure conventional financing at acceptable terms. To participate, investors would agree to deposit funds in a designated JCA investment account (ideally by no later than June 15, 2012) and JCA would agree to begin making payments to the fund by September 1, JCA will attempt to line up additional investors/reserves to cash out parties who may need to withdraw their principal before the end of the repayment period, but would only be required to make early payouts as replacement investors become available or JCA amasses excess funds in the account. Details as to how the fund would work are outlined below. This representative example is based on a total of $500,000 raised, repaid at a rate of 5.5% and with the remaining outstanding principal balance fully repaid at the end of three years. (As noted above, the fund will be set up so JCA, at its sole discretion, could proceed to cash out investors at any time within a window of 37 to 60 months.) JCA would make interest-only payments for the first 12 months and then begin repaying principal in month 13 based on a 20 year amortization schedule. Fund Notes: [1] Total investment goal: Raise $500,000 with a minimum need of $235,000 to acquire and hold the building ($450,000 sale price plus closing costs). [2] Repayment Terms: JCA will repay investors with 5.5% interest, 20 year amortization schedule, Year 1 interest only (See table) Distributions made monthly. [3] Investors make a maximum 5 year commitment; Investors commit funds to be deposited in a JCA account by June 15, first monthly payment by JCA made on Sept. 1, JCA seeks permanent financing to repay investors in full beginning in month 37. 2

3 [4] JCA establishes and makes monthly payments to a fund from which distributions are made to investors. JCA will work to build additional reserves in order to accommodate investors who may need early repayment of principal. [5] Example assuming $500,000 raised: JCA makes monthly mortgage payments of $2,300 ($27,500 total) over months 1-12, $3,600 ($43,100/year) from months 13-36, and distributes the remaining PRN balance of $468,000 in month 37 when permanent refinancing is secured. Investors receive a percentage of the monthly mortgage payment based on their percentage share of contributed funds. JCA or a designated Trustee will send payments to each investor. [6] JCA retains the right to pay down loan principal or fully pay off the loan at any time based on the outstanding PRN balance on that given month. [7] JCA/investors agree that early cash outs will only be accommodated as funds are available. Additional investors may be added at any time to replace persons needing to cash out early. [8] Investment income is assumed not to be tax exempt unless advised by an attorney. Investors are encouraged to set up and roll over funds to a self-directed IRA to maximize the tax benefits of their investment. [9] To limit the administrative burden on JCA a minimum investment of $5,000 is requested. Interested investors may increase their contributions in $1,000 increments with no maximum limit. [10] Investors are accepted on a first come, first served basis until all needed funds are committed. In the event that more funding is committed by interested investors than is required for the project, those not needed for the initial offering will be given the option to be placed on a list to be contacted if replacement funds are needed to accommodate other investors who may request to cash out early. [11] In the event of default by JCA the investors will be secured by the value of the real estate. [12] As illustrated in the following exhibit, a $10,000 investor would receive total repayments of $11,633 if cashed out in 37 months. Total interest earnings are also calculated at the end of 3, 4 and 5 years. Ending Balance Example Individual Investor Return: $10,000 investment with JCA making full repayment of the principal balance at the end of 3 years Summary: Total JCA Payments Received Total Month 1-12 Month13-24 Month25-36 Month 37 Payout $ 550 $ 862 $ 862 $ 9,360 $ 11,633 Total interest received if principal is fully repaid at the end of 36 months: $1,633 Total interest received if principal is fully repaid at the end of 48 months: $2,148 Total interest received if principal is fully repaid at the end of 60 months: $2,643 The exhibit on the following page calculates JCA s monthly and annual mortgage payments over years 1 through 5 of the proposed amortization schedule. The Cumulative Principal column shows the amount of principal that will be repaid to investors while JCA is making payments. The Ending Balance column shows the remaining funds that would be distributed if JCA secured permanent financing at the end of 3, four or 5 years. Investors would receive a lump sum distribution of their remaining principal balance upon JCA s obtaining permanent financing. A monthly amortization schedule will be prepared with the fund documents that will calculate the outstanding principal balance for each month during the term of the agreement. 3

4 Investing 401K or IRA Savings Many people tend to keep a large majority of their savings in 401K or Individual Retirement Accounts. Some of these accounts offer a self-directed option that allows funds to be invested in income producing real estate and other investments like this one. It is also possible to roll over an underperforming retirement account that does not contain a self-directed option into an IRA which does. JCA is actively researching this issue and will be able to answer questions and suggest options for people who may be interested in using a portion of their retirement savings to invest in the proposed building fund. Anyone who might consider tapping retirement savings for this purpose should thoroughly research their accounts rules, features and financial performance before making a final decision. More importantly they should be sure they know how to roll over funds properly (and avoid negative tax consequences) before making any withdrawals. Sample Financing Schedule: first 5 year amortization of a $500,000 fund including calculation of JCA payments and the outstanding principal balance distributed the end of 3, 4 or 5 years JCA Financing Model Total Mortgage: $ 500,000 JCA Monthly Year 1 ($2,292) Loan period in years 20 Amortization Schedule Payment Schedule Mortgage Year 2 ($3,590) Interest Only Period (Years) 1 Payment Year 3 ($3,590) PRN Retirement Period (Years) 19 Year 4 ($3,590) Interest Rate: Year % Year 5 ($3,590) Interest Rate: Year 4-5 (if needed) 5.50% PRN Amortization Schedule Beginning Balance Payment Principal Interest Cumulative Principal Cumulative Interest Ending Balance 1 0 $ 500,000 -$27,500 $0 -$27,500 $0 -$27,500 $500, $ 500,000 -$43,075 -$15,575 -$27,500 -$15,575 -$55,000 $484, $ 484,425 -$43,075 -$16,432 -$26,643 -$32,007 -$81,643 $467, $ 467,993 -$43,075 -$17,335 -$25,740 -$49,342 -$107,383 $450, $ 450,658 -$43,075 -$18,289 -$24,786 -$67,631 -$132,169 $432,369 Next steps At this time JCA is asking interested investors to provide a non-binding expression of interest to participate in the fund for a specified amount. If there is sufficient interest from enough potential investors to finance the building purchase, JCA would then proceed to retain an attorney to set up the accounts and draft required legal agreements. At that time investors will be given an opportunity to review the agreements and make a final decision regarding whether or not to participate. JCA has a critical need to raise approximately $235,000 by mid-june, 2012 to acquire the building. Investors with the ability to do so would be asked to deposit their investment in the established fund by that time. However, those who may be interested but need more time to transfer funds could still participate after the closing takes place and until such time that sufficient funds have been raised for building renovations. In the event the fund is established but not used, JCA will return unused investor contributions within 30 days. 4

5 If you are interested in learning more, please Carl Herrington and provide the following information: Yes I am interested in learning more about helping to finance Jubilee Church Atlanta s Building Project! a. Provide your name, address and/or phone number where we can reach you to follow up; b. Indicate the amount or a potential range you think you might be willing to invest; c. Provide an estimated date when you would be able to deposit funds into the designated Building Fund account should you decide to proceed. Send your response to: or call him at as soon as possible. We at JCA are excited about this opportunity for ourselves and others throughout New Frontiers to invest in the growth of our Church. We also believe that if successful, this approach can be used a model for other Churches seeking to finance similar capital projects. We appreciate your prayerful consideration and look forward to the possibility of partnering with you in this effort. Thank you. More financial information about the property and JCA s capacity to repay investors is provided in Attachment A. 5

6 Attachment A: Project Information Property Location: 260 Parkway 575, Woodstock, GA REVIVE CONSIGNMENT Description: 15,474 single story office former medical office building, built in 1989 on a 1.4 acre site with 95 paved parking spaces. Property is located near Interstate 575 and GA Route 92 (Exit 7) near JCA s Revive Consignment Store. Site is zoned General Commercial which allows for churches, retail, office, restaurants, clubs and related uses by right. The building s proximity to Revive Consignment (also shown on the map) will make it easier for the Church to both manage the property and market the building to potential users from the surrounding community. Condition: The building received water damage in 2009 by a 500-year flood of Noonday Creek, which caused the medical practice to vacate. The building has since remained vacant and all flooring, fixtures and the bottom 4 feet of interior walls/partitions have been removed. HVAC and electrical systems 6

7 have been partially retained and are partially usable. JCA has performed due diligence and found no structural damage to the building. Roofing has been inspected and necessary repairs have been incorporated into the construction budget. JCA has budgeted to carry flood insurance protection on the property a cost of roughly $750/year. Sales Price: JCA has negotiated as purchase contract to acquire the building for $450,000 ($30/SF). Prior recorded sales have been as high as $2.9 million ($187/SF) in The deadline for JCA to secure financing is June 11, 2012 unless an extension is granted by the seller. Rehabilitation Strategy: JCA has developed plans to renovate and furnish approximately 9,000 SF in Phase I to accommodate a 300 seat main meeting room plus 3 classrooms, offices and a central lobby/foyer. (The proposed Phase I floor plan is shown on the following page.) The remaining 6,400 SF will be finished at a later date as funds become available. Plans for the remaining unfinished floor space could include a catering preparation area, additional conference/meeting rooms, leasable offices, workshop space, etc. With volunteer efforts, JCA anticipates that Phase I building renovations will range from $225,000 to $235,000. The total move in cost for Phase I including the building purchase, construction, furnishings, architectural and engineering plans, legal fees and permitting is projected to total $725,000. This total cost averages $46.85/SF over the entire building area or $80.50/SF for the 9,000 SF of finished space. Other older and comparably sized office properties in the immediate vicinity are currently assessed by the City of Woodstock at $80/SF, indicating that that the value of JCA s completed project will be in line with local market values and well in excess of $500,000 raised from investors. It is JCA s intent to minimize the special purpose features of this building in order to preserve its future suitability for conversion back to commercial or office use if necessary. Planned finishes will make meeting, classroom and office spaces attractive and suitable for a broad range of commercial functions including wedding receptions, banquets, parties, business meetings, performances, etc. JCA s intent is to eventually develop this property into 7-day a week community resource that will generate income to carry part or all of the facility s cost while freeing the Church s financial resources for ministry. Financing Capacity: JCA has carefully examined the added carrying costs of this building in order to ensure that the Church will be able to meet its financial obligations to investors. A 5-year forecast of revenues and expenses is provided on the last page. The forecasts show that JCA should be able to maintain its net building occupancy costs at roughly 20% of total revenues over the forecast period. This is well below the 30% ratios which are considered by most lenders to be an adequate indicator of ability to pay. 7

8 8

9 Jubilee Church Atlanta: Estimated 5-year Occupancy Cost/Revenue Projections for 260 Parkway 575 Forecast Year (Beginning September 1, 2012) Repayment Schedule Actual Year 1 Year 2 Year 3 Year 4 Year 5 Sources Current/Projected Annual Revenues [1] $ 232,000 $ 278,500 $ 292,425 $ 307,046 $ 322,399 $ 338,518 Less Net Occupancy Costs Rental Meeting Space (Kell HS & Other)[2] $ (25,000) $ - $ - $ - $ - $ - Financing Costs ($500,000 financed) [3] $ - $ (27,500) $ (43,075) $ (43,075) $ (43,075) $ (43,075) Estimated Building Occupancy Costs [4] $ (29,250) $ (30,420) $ (31,637) $ (32,902) $ (34,218) Building Rental Income [5] $ 5,000 $ 7,500 $ 11,250 $ 14,063 $ 15,469 Net Building Occupancy Costs $ (25,000) $ (51,750) $ (65,995) $ (63,462) $ (61,915) $ (61,825) Balance for staffing, ministries, etc. $ 207,000 $ 226,750 $ 226,430 $ 243,584 $ 260,484 $ 276,694 Net Building Costs as a % of Total Revenues [6]: 10.8% 18.6% 22.6% 20.7% 19.2% 18.3% NOTES: [1] 2011 actual revenues from financial statements. Forecasted revenue growth includes pledges received for future building expenses, recent growth in members/monthly giving carried forward for the next 12 months and 5% annual revenue growth thereafter. [2] JCA currently pays $1,800/month rental fee for Kell HS, plus equipment storage fees and periodic rental costs for other meetings. These expenses will no longer be incurred. [3] Assumes $500,000 financed at 5.5% with a 20 year amortization schedule and year 1 interest only. [4] Includes estimated HVAC costs, general liability and flood hazard insurance, buildings and grounds and contributions to a reserve fund. [5] Conservative forecast of building revenues from space rental. JCA will develop a formal business plan following completion of improvements. [6] Lenders will typically approved loans based on 30% of an organization's total revenues. (Based on 2011 actual revenue and no forecasted income growth, the first year ownership cost would be 33% of total revenue.) However, with growth in giving and potential building income, JCA intends to work toward keeping the net ownership cost of the project at 20% or less of annual revenues moving forward. 9

U.S. Government Guaranteed HECM Reverse Mortgage Information Guide

U.S. Government Guaranteed HECM Reverse Mortgage Information Guide To learn more please call our Reverse Mortgage Department at 302-283-4687 or toll free at 1-888-WSFSBANK (1-888-973-7226), or visit www.wsfsbank.com/reversemortgages. U.S. Government Guaranteed HECM Reverse

More information

WHAT IS A REAL (504) LOAN?

WHAT IS A REAL (504) LOAN? WHAT IS A REAL (504) LOAN? The Real Estate Advantage Loan (also known as a REAL or 504 Loan) is a 10% down, fixed-rate, long-term loan designed to expand capital access, filling a market gap in long-term

More information

Homeownership Preservation Policy for Residential Mortgage Assets. Section 110 of the Emergency Economic Stabilization Act (EESA)

Homeownership Preservation Policy for Residential Mortgage Assets. Section 110 of the Emergency Economic Stabilization Act (EESA) Homeownership Preservation Policy for Residential Mortgage Assets Section 110 of the Emergency Economic Stabilization Act (EESA) requires that each Federal property manager that holds, owns, or controls

More information

1. LOAN TERMS 2. BORROWER INFORMATION

1. LOAN TERMS 2. BORROWER INFORMATION 1. LOAN TERMS Loan Amount Requested Loan Amortization Requested years (25 year maximum) Type of Loan Requested (Select One) 1-Year Adjustable Rate 5-Year Adjustable Rate 3-Year Adjustable Rate 2. BORROWER

More information

Welcome to our Reverse Mortgage Servicing Department

Welcome to our Reverse Mortgage Servicing Department Welcome to our Reverse Mortgage Servicing Department New Loan Reference Booklet Reverse Mortgage Frequently Asked Questions 1. HOW CAN I REQUEST FUNDS FROM MY LINE OF CREDIT? If you selected a line of

More information

EQUITY HOME. HowDO. we stay in. our family. home?

EQUITY HOME. HowDO. we stay in. our family. home? HowDO we stay in our family home? HOME EQUITY loan Welcome If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us. A Heartland Home

More information

IT S LIFETIME LOAN A SIGN OF THE TIMES AUSTRALIAN SENIORS FINANCE. The Home Equity Release Specialist

IT S LIFETIME LOAN A SIGN OF THE TIMES AUSTRALIAN SENIORS FINANCE. The Home Equity Release Specialist IT S A SIGN OF THE TIMES LIFETIME LOAN AUSTRALIAN SENIORS FINANCE The Home Equity Release Specialist UNLOCK THE IN YOUR EQUITY HOME If you want the financial freedom to spend your retirement how you choose,

More information

THE OXBRIDGE FHA FACILITY FHA TERM SHEETS

THE OXBRIDGE FHA FACILITY FHA TERM SHEETS THE OXBRIDGE FHA FACILITY FHA TERM SHEETS Set forth below are the various types of FHA Loans for which the Oxbridge FHA Facility will provide GAP funding (i.e. funding of borrower equity requirement) to

More information

IT S MORTGAGE REVERSE A SIGN OF THE TIMES

IT S MORTGAGE REVERSE A SIGN OF THE TIMES IT S A SIGN OF THE TIMES REVERSE MORTGAGE UNLOCK THE EQUITY IN YOUR HOME If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us.

More information

HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES

HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES HOUSING FINANCE AUTHORITY OF PINELLAS COUNTY AFFORDABLE MULTIFAMILY RENTAL DEVELOPMENT LOAN PROCEDURES LENDING PHILOSOPHY The Housing Finance Authority of Pinellas County (HFA) follows Pinellas County

More information

COMMUNITY ACQUISITION REHABILITATION LOAN CARL CARL TERM SHEET AND GUIDELINES

COMMUNITY ACQUISITION REHABILITATION LOAN CARL CARL TERM SHEET AND GUIDELINES COMMUNITY ACQUISITION REHABILITATION LOAN I. PROGRAM OBJECTIVE CARL CARL TERM SHEET AND GUIDELINES URBAN REDEVELOPMENT AUTHORITY OF PITTSBURGH PITTSBURGH COMMUNITY REINVESTMENT GROUP The main objective

More information

Sec. 32-9nn page 1 (9-97)

Sec. 32-9nn page 1 (9-97) Sec. 32-9nn page 1 (9-97) TABLE OF CONTENTS Loans to Businesses Impacted by Road and Bridge Repair Definitions... 32-9nn-1 Requirements for the determination of the extent of adverse impact.. 32-9nn-2

More information

Lump Sum Lifetime Mortgage Product Summary

Lump Sum Lifetime Mortgage Product Summary Lump Sum Lifetime Mortgage Product Summary This document is intended to provide you with an introduction to our Lump Sum Lifetime Mortgage. Aims The lump sum lifetime mortgage provides you with a cash

More information

SONOMA COUNTY COMMUNITY DEVELOPMENT COMMISSION COMMERCIAL REHABILITATION LOAN PROGRAM DESIGN

SONOMA COUNTY COMMUNITY DEVELOPMENT COMMISSION COMMERCIAL REHABILITATION LOAN PROGRAM DESIGN SONOMA COUNTY COMMUNITY DEVELOPMENT COMMISSION COMMERCIAL REHABILITATION LOAN PROGRAM DESIGN I. INTRODUCTION A. Purpose: The goals of the (the Program ) are to: 1. Eliminate economic and physical blight

More information

HOME BUYING101. 701.255.0042 www.capcu.org i

HOME BUYING101. 701.255.0042 www.capcu.org i HOME BUYING101 701.255.0042 www.capcu.org i This book is intended as a general guide to the topics discussed, and it does not deliver accounting, personal finance, or legal advice. It is not intended,

More information

Frequently Asked Questions About Trust Deed Investing and Sterling Pacific Financial

Frequently Asked Questions About Trust Deed Investing and Sterling Pacific Financial Frequently Asked Questions About Trust Deed Investing and Sterling Pacific Financial This document is presented in four categories: FAQs about Trust Deed Investments (this page) FAQs about investing with

More information

IT S MORTGAGE REVERSE A SIGN OF THE TIMES

IT S MORTGAGE REVERSE A SIGN OF THE TIMES IT S A SIGN OF THE TIMES REVERSE MORTGAGE UNLOCK THE EQUITY IN YOUR HOME If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us.

More information

The Law of First Impressions A Practical Guide to Mortgage Applicants

The Law of First Impressions A Practical Guide to Mortgage Applicants The Law of First Impressions A Practical Guide to Mortgage Applicants Increased Importance of Borrower Financial Statements For Commercial Real Estate Financing Robert T. Gibney Real estate investors prepare

More information

COMPLETING A PERSONAL NET WORTH STATEMENT (Personal Net Worth Statements and Related Financial Information Are Not Subject To Public Disclosure Laws)

COMPLETING A PERSONAL NET WORTH STATEMENT (Personal Net Worth Statements and Related Financial Information Are Not Subject To Public Disclosure Laws) COMPLETING A PERSONAL NET WORTH STATEMENT (Personal Net Worth Statements and Related Financial Information Are Not Subject To Public Disclosure Laws) For New Applicants: All Owners Claiming Disadvantaged

More information

EQUITY LOAN HOME HOWDO WE STAY IN OUR FAMILY HOME?

EQUITY LOAN HOME HOWDO WE STAY IN OUR FAMILY HOME? HOWDO WE STAY IN OUR FAMILY HOME? HOME EQUITY LOAN Welcome If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us. A Heartland Home

More information

MORTGAGE DICTIONARY. Amortization - Amortization is a decrease in the value of assets with time, which is normally the useful life of tangible assets.

MORTGAGE DICTIONARY. Amortization - Amortization is a decrease in the value of assets with time, which is normally the useful life of tangible assets. MORTGAGE DICTIONARY Adjustable-Rate Mortgage An adjustable-rate mortgage (ARM) is a product with a floating or variable rate that adjusts based on some index. Amortization - Amortization is a decrease

More information

Financial Guidelines for Long-Term Care Home Licensing Applications

Financial Guidelines for Long-Term Care Home Licensing Applications Financial Guidelines for Long-Term Care Home Licensing Applications Performance Improvement and Compliance Branch, Ministry of Health and Long-Term Care Revised: June 2015 Table of Contents Introduction...

More information

FIRST TIME HOMEBUYERS. Canada Mortgage and Housing Corporation (CMHC) and Genworth have made it easier than ever to own the home of your dreams.

FIRST TIME HOMEBUYERS. Canada Mortgage and Housing Corporation (CMHC) and Genworth have made it easier than ever to own the home of your dreams. FIRST TIME HOMEBUYERS Canada Mortgage and Housing Corporation (CMHC) and Genworth have made it easier than ever to own the home of your dreams. Program Highlights Minimum down payment 5% of the appraised

More information

The Corporation of the City of Burlington PARKS & RECREATION

The Corporation of the City of Burlington PARKS & RECREATION The Corporation of the City of Burlington PARKS & RECREATION REC 026 ADMINISTRATIVE POLICY FACILITIES JOINT VENTURE POLICY Effective: January 2010 PREAMBLE: Parks and Recreation services are part of the

More information

The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing

The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing Commercial Lenders The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing The FFCFC 504 Loan Program is designed to help small business owners expand through the purchase

More information

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 CONTENTS What is equity release?... 3 How much money could I raise through an equity release?... 4 What

More information

PEF closes funding gaps growth businesses commonly face as they move from start-up to commercialization and fast growth.

PEF closes funding gaps growth businesses commonly face as they move from start-up to commercialization and fast growth. PITTSBURGH ENTREPRENEUR FUND Program Guidelines I. Statement of Purpose The Pittsburgh Entrepreneur Fund (PEF) will provide capital for new and growing businesses, including emerging technology-based firms,

More information

Commercial Lending Glossary

Commercial Lending Glossary Commercial Lending Glossary Acre: Unit of land measure equal to 43,560 square feet. Amortization (To Amortize): The act of paying off a debt through scheduled periodic payments. Example: A 20 year amortization

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

Financial Mappers Tutorial

Financial Mappers Tutorial Financial Mappers Tutorial How to Make a Debt Reduction Plan (Part A) (Age 35 45) How to Invest Without Debt (Part B) (Age 46 65) Disclosure Statement Financial Mappers is not intended to offer, or be

More information

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION Created in proud partnership with BUSINESS DEVELOPMENT LOAN POOL (BDLP) Milwaukee Downtown,

More information

Appraisal A written analysis prepared by a qualified appraiser and estimating the value of a property

Appraisal A written analysis prepared by a qualified appraiser and estimating the value of a property REAL ESTATE BASICS Affordability Analysis An analysis of a buyer s ability to afford the purchase of a home, reviews income, liabilities, and available funds, and considers the type of mortgage a buyer

More information

Understanding A Firm s Financial Statements

Understanding A Firm s Financial Statements CHAPTER OUTLINE Spotlight: J&S Construction Company (http://www.jsconstruction.com) 1 The Lemonade Kids Financial statement (accounting statements) reports of a firm s financial performance and resources,

More information

Reverse Mortgage Information Guide

Reverse Mortgage Information Guide Reverse Mortgage Information Guide Table of Contents FHA Reverse Mortgages 3 Common Misconceptions about Reverse Mortgages 4 How the Program Works 4 Benefits of a HECM loan 4 HECM vs. Traditional Mortgage

More information

20 Lafayette LLC (A Limited Liability Company) Balance Sheet December 31, 2015

20 Lafayette LLC (A Limited Liability Company) Balance Sheet December 31, 2015 Balance Sheet Contents Page(s) Independent Auditors Report... 1 Financial Statement Balance Sheet... 2 Notes to Balance Sheet... 3 7 Independent Auditors Report To the Members of 20 Lafayette LLC We have

More information

Buy-to-let guide about tax

Buy-to-let guide about tax Perrys Chartered Accountants Buy-to-let guide about tax Introduction As a buy-to-let landlord it is important you know about tax and how it affects you and your investment. This is why Perrys Chartered

More information

Debt Management Policy

Debt Management Policy Debt Management Policy Introduction One of the keys to sound financial management is the development of a debt policy. This need is recognized by bond rating agencies, and development of a debt policy

More information

EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK

EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK EVANGELICAL LUTHERAN CHURCH IN CANADA CHURCH EXTENSION AND CAPITAL FUND MANAGEMENT HANDBOOK PREAMBLE A. ADMINISTRATION B. CAPITAL FUND I. OPERATING PRINCIPLES II. OPERATING POLICIES APPENDIX I CRITERIA

More information

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Business Financing An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Even in these challenging economic times, businesses still have a need to grow and to obtain

More information

Tax Increment Financing Policy

Tax Increment Financing Policy Tax Increment Financing Policy BLEDA Adopted May 12, 2014 City Council Adopted May 28, 2014 For the purpose of this policy, the "City" shall also mean the Big Lake Economic Development Authority (BLEDA),

More information

Moss Adams Introduction to ESOPs

Moss Adams Introduction to ESOPs Moss Adams Introduction to ESOPs Looking for an exit strategy Have you considered an ESOP? Since 1984, we have performed over 2,000 Employee Stock Ownership Plan (ESOP) valuations for companies with as

More information

SUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE

SUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE SUMMARY REVIEW FOR THE COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN TABLE OF CONTENTS INTRODUCTION... i HIGHLIGHTS... 2 PARTICIPATION... 2 Eligibility to

More information

Financial Statements December 31, 2014 and 2013 Josephine Commons, LLC

Financial Statements December 31, 2014 and 2013 Josephine Commons, LLC Financial Statements Josephine Commons, LLC www.eidebailly.com Table of Contents Independent Auditor s Report... 1 Financial Statements Balance Sheets... 3 Statements of Operations and Members Equity...

More information

Underwriting Commercial Loans

Underwriting Commercial Loans Underwriting Commercial Loans T he objective of this study is to understand the basic principles of underwriting for multifamily housing and commercial real estate loans. As a mortgage broker, real estate

More information

FHA Home Loans 101 An Easy Reference Guide

FHA Home Loans 101 An Easy Reference Guide FHA Home Loans 101 An Easy Reference Guide Updated for loans on or after January 26, 2015 Congratulations on Starting Your Journey to Home Ownership This guide offers a quick look at vital information

More information

EHDOC Robert Sharp Towers II Limited Partnership (A Florida Limited Partnership) Financial Report October 31, 2014

EHDOC Robert Sharp Towers II Limited Partnership (A Florida Limited Partnership) Financial Report October 31, 2014 EHDOC Robert Sharp Towers II Limited Partnership Financial Report October 31, 2014 Contents Independent Auditor's Report 1 Financial Statements Balance sheet 2 3 Statement of income 4 Statement of changes

More information

REQUEST FOR PROPOSAL. for REFINANCE OF FIRST MORTGAGE FOR FOOTHILLS COMMUNITY. for BOULDER HOUSING PARTNERS

REQUEST FOR PROPOSAL. for REFINANCE OF FIRST MORTGAGE FOR FOOTHILLS COMMUNITY. for BOULDER HOUSING PARTNERS REQUEST FOR PROPOSAL for REFINANCE OF FIRST MORTGAGE FOR FOOTHILLS COMMUNITY for BOULDER HOUSING PARTNERS June 24, 2013 Requested Return: July 12, 2013 Boulder Housing Partners 4800 Broadway Boulder, Co.

More information

FINANCIAL SERVICES BOARD COLLECTIVE INVESTMENT SCHEMES

FINANCIAL SERVICES BOARD COLLECTIVE INVESTMENT SCHEMES FINANCIAL SERVICES BOARD COLLECTIVE INVESTMENT SCHEMES INTRODUCTION This booklet will provide you with information on the importance of understanding ways in which Collective Investment Schemes ( CIS )

More information

Rural Entrepreneur Assistance (REA)

Rural Entrepreneur Assistance (REA) Rural Entrepreneur Assistance (REA) Eligibility Criteria A. APPLICANT 1. Must be aged 18 or over, eligible to work in Canada, and a Manitoba resident. 2. Must develop and submit a sound business plan which

More information

Rental Rehabilitation Loan Program

Rental Rehabilitation Loan Program Rental Rehabilitation Loan Program Program Information The purpose of the Rental Rehabilitation Loan Program is to provide owners of affordable rental housing in Dakota County with a financial tool to

More information

Reverse Mortgages A Source of Funds for Retirement?

Reverse Mortgages A Source of Funds for Retirement? Reverse Mortgages A Source of Funds for Retirement? Many people make it a goal of their financial lives to invest in a home. It is a great accomplishment when that last mortgage payment is made. Can a

More information

Your Reverse Mortgage Guide. Reaping The Rewards Of A Lifetime Investment In Homeownership

Your Reverse Mortgage Guide. Reaping The Rewards Of A Lifetime Investment In Homeownership Your Reverse Mortgage Guide Reaping The Rewards Of A Lifetime Investment In Homeownership Contents Make The Most Of Retirement!...3 Program Overview...3 4 What Is A Reverse Mortgage? Why Get A Reverse

More information

We ll help you open the door.

We ll help you open the door. We ll help you open the door. The Citizens Guide to Home Financing Lori Customer Table of Contents Before you look 4 The costs of purchasing a home 4 Getting a head start: Pre-approval 6 Choosing a mortgage

More information

Guide to Reverse Mortgages

Guide to Reverse Mortgages Guide to Reverse Mortgages Prepared by Steve Juetten, CFP Juetten Personal Financial Planning, LLC. www.finpath.com 425-373-9393 Disclaimer: the information in this report was prepared from reliable sources;

More information

Plan, Build, Enjoy! Everything you need to know about funding a new build or renovation

Plan, Build, Enjoy! Everything you need to know about funding a new build or renovation Plan, Build, Enjoy! Everything you need to know about funding a new build or renovation From foundations to fit out a construction loan can help you get there... Building a brand new home or completing

More information

Tom Serwatka, Business Advisor MV Small Business Development Center SUNY Institute of Technology serwatt@sunyit.edu 315-792-7557

Tom Serwatka, Business Advisor MV Small Business Development Center SUNY Institute of Technology serwatt@sunyit.edu 315-792-7557 Tom Serwatka, Business Advisor MV Small Business Development Center SUNY Institute of Technology serwatt@sunyit.edu 315-792-7557 1 Objectives of Presentation To walk you through the steps needed to create

More information

Home Loans made easy

Home Loans made easy Home Loans made easy Finding the information you need in this brochure 03 Your own Home Loan Specialist 04 Why Suncorp Bank 06 Home loan options explained 6 Variable Rate 8 Fixed Rate 8 Line of Credit

More information

Home Financing Guide

Home Financing Guide Home Financing Guide Table of Contents Is Home Ownership Right for You? 1 Basics about Your Mortgage Options 2 Conventional or High Ratio Mortgage 3 Options for a Down Payment 3 Understanding Amortization

More information

A GUIDE TO HOME EQUITY LINES OF CREDIT. Call or visit one of our offices today to see what products in this guide we have to offer you!

A GUIDE TO HOME EQUITY LINES OF CREDIT. Call or visit one of our offices today to see what products in this guide we have to offer you! A GUIDE TO HOME EQUITY LINES OF CREDIT Call or visit one of our offices today to see what products in this guide we have to offer you! TABLE OF CONTENTS Introduction What is a home equity line of credit

More information

PURCHASING REAL ESTATE IN A SELF DIRECTED IRA OR QUALIFIED PENSION PLAN. By Maurice M. Glazer, CEO GLAZER FINANCIAL NETWORK

PURCHASING REAL ESTATE IN A SELF DIRECTED IRA OR QUALIFIED PENSION PLAN. By Maurice M. Glazer, CEO GLAZER FINANCIAL NETWORK PURCHASING REAL ESTATE IN A SELF DIRECTED IRA OR QUALIFIED PENSION PLAN By Maurice M. Glazer, CEO GLAZER FINANCIAL NETWORK In today s market or lack of market, most baby boomers have most of their retirement

More information

Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD)

Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD) Eligibility and Application Guidelines for the Low Interest Loan Program for the Downtown Historic District (DHD) GOAL: To attract new businesses and investors, to provide private property owners access

More information

Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf

Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf Credit is the lifeblood of South Louisiana business, especially for the smaller firm. It helps the small business owner get started, obtain equipment, build inventory,

More information

ITEM 7 ESTIMATED INITIAL INVESTMENT

ITEM 7 ESTIMATED INITIAL INVESTMENT ITEM 7 ESTIMATED INITIAL INVESTMENT Below are estimates of your initial investment with respect to your prototypical restaurant. These estimates are subject to increases based upon the restaurant s location,

More information

SECTION 4 REHABILITATION MORTGAGES 203(k) Standard & 203(k) Limited

SECTION 4 REHABILITATION MORTGAGES 203(k) Standard & 203(k) Limited SECTION 4 REHABILITATION MORTGAGES 203(k) Standard & 203(k) Limited 4.1 Program Descriptions 4.2 Borrower Eligibility 4.3 Property Eligibility 4.4 Principal Residence Requirement 4.5 Rehabilitation Loan

More information

72(t) Distributions A Guide to Taking 72(t) Distributions From Your IRA

72(t) Distributions A Guide to Taking 72(t) Distributions From Your IRA 72(t) Distributions A Guide to Taking 72(t) Distributions From Your IRA Millions of Americans have found Individual Retirement Accounts ( IRAs ) to be an attractive, tax-favored means of saving for retirement.

More information

Retirement Mortgage Product summary

Retirement Mortgage Product summary Retirement Mortgage Product summary The Retirement Mortgage from Hodge Lifetime provides you with a flexible way to borrow money in retirement. A legal charge is secured on your home. AIMS The Retirement

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

USA Reverse. Learn the Facts about Reverse Mortgages. Danny Glover - Human Rights Activist

USA Reverse. Learn the Facts about Reverse Mortgages. Danny Glover - Human Rights Activist Learn the Facts about Reverse Mortgages Danny Glover - Human Rights Activist Single-purpose Reverse Mortgages Single-purpose reverse mortgages are the least expensive option. They re offered by some state

More information

Accounts payable Money which you owe to an individual or business for goods or services that have been received but not yet paid for.

Accounts payable Money which you owe to an individual or business for goods or services that have been received but not yet paid for. A Account A record of a business transaction. A contract arrangement, written or unwritten, to purchase and take delivery with payment to be made later as arranged. Accounts payable Money which you owe

More information

SHOPPING FOR A MORTGAGE

SHOPPING FOR A MORTGAGE SHOPPING FOR A MORTGAGE The Traditional Fixed-Rate Mortgage Key characteristics: Level payments, fixed interest rate, fixed term. This mortgage is the one which most of us know, and it is still the loan

More information

Borrow Wisely with these Keys: Local servicing Pre-approvals Competitive interest rates Personal service Tailored loan programs*

Borrow Wisely with these Keys: Local servicing Pre-approvals Competitive interest rates Personal service Tailored loan programs* Your Home Financing Process Checklist As you prepare to purchase a home or refinance your loan, it s important to know what to expect along the way. Here, we ve outlined some of the general steps in the

More information

PROPERTY PAYS FOR ITS OWNER: REVERSE MORTAGAGE..

PROPERTY PAYS FOR ITS OWNER: REVERSE MORTAGAGE.. PROPERTY PAYS FOR ITS OWNER: REVERSE MORTAGAGE.. Getting into old age without proper financial support can be a very bad experience. No regular incomes, with rising cost of living can make life tough;

More information

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 CITY OF NEWARK SECTION 108 LOAN PROGRAM DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 A Program Financed Under the U.S. Department of Housing & Urban Development Section

More information

Arkansas Development Finance Authority, a Component Unit of the State of Arkansas

Arkansas Development Finance Authority, a Component Unit of the State of Arkansas Arkansas Development Finance Authority, a Component Unit of the State of Arkansas Combined Financial Statements and Additional Information for the Year Ended June 30, 2000, and Independent Auditors Report

More information

Commercial Real Estate Investment: Opportunities for Income Generation in Today s Environment

Commercial Real Estate Investment: Opportunities for Income Generation in Today s Environment Commercial Real Estate Investment: Opportunities for Income Generation in Today s Environment Prepared by Keith H. Reep, CCIM Real Estate Investment Consultant In this white paper 1 Advantages of investing

More information

Bridges of America - The Turning Point Bridge, Inc. Orlando, Florida

Bridges of America - The Turning Point Bridge, Inc. Orlando, Florida Bridges of America - The Turning Point Bridge, Inc. Orlando, Florida Financial Statements and Supplementary Information Year Ended June 30, 2014 Table of Contents Page Independent Auditor s Report 1 Financial

More information

Home Equity Conversion Mortgage Basics

Home Equity Conversion Mortgage Basics Home Equity Conversion Mortgage Basics Kelly Zitlow NMLS#164330 Vice President, CMPS 480.398.4908 kzitlow@ccmclending.com www.kellyzitlow.com Cherry Creek Mortgage Co., Inc. NMLS#3001 AZ BK#0904024 17015

More information

SONOMA COUNTY COMMUNITY DEVELOPMENT COMMISSION THE RUSSIAN RIVER REDEVELOPMENT PROJECT COMMERCIAL REHABILITATION LOAN PROGRAM GUIDELINES

SONOMA COUNTY COMMUNITY DEVELOPMENT COMMISSION THE RUSSIAN RIVER REDEVELOPMENT PROJECT COMMERCIAL REHABILITATION LOAN PROGRAM GUIDELINES I. INTRODUCTION SONOMA COUNTY COMMUNITY DEVELOPMENT COMMISSION THE RUSSIAN RIVER REDEVELOPMENT PROJECT COMMERCIAL REHABILITATION LOAN PROGRAM GUIDELINES A. Purpose: The goals of the Russian River Redevelopment

More information

Reverse Mortgages Policy

Reverse Mortgages Policy Reverse Mortgages Policy March 2014 Version Date 2 November 2012 3 March 2014 Document owner Professional Standards Professional Standards Approved by RI Compliance Committee Date of approval 22/11/2012

More information

PENNSYLVANIA STATE SYSTEM OF HIGHER EDUCATION ALTERNATIVE RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

PENNSYLVANIA STATE SYSTEM OF HIGHER EDUCATION ALTERNATIVE RETIREMENT PLAN SUMMARY PLAN DESCRIPTION PENNSYLVANIA STATE SYSTEM OF HIGHER EDUCATION ALTERNATIVE RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN Article I. PARTICIPATION IN THE PLAN... 1 Am I eligible to

More information

Life Insurance Tutorial & Calculation Worksheet

Life Insurance Tutorial & Calculation Worksheet Life Insurance Tutorial & Calculation Worksheet Provided By NAVY MUTUAL AID ASSOCIATION Henderson Hall, 29 Carpenter Road, Arlington, VA 22212 Telephone 800-628-6011-703-614-1638 - FAX 703-945-1441 E-mail:

More information

Your Assets: Financing and Refinancing Properties

Your Assets: Financing and Refinancing Properties The Business Library Resource Report #35 Your Assets: Financing and Refinancing Properties Personal, Investment, and Business Properties! Basic Analysis of How and When! Fixed vs. Variable Interest Rate!

More information

The I-195 Redevelopment District Commission. Rules and Regulations for the I-195 Redevelopment Project Fund

The I-195 Redevelopment District Commission. Rules and Regulations for the I-195 Redevelopment Project Fund Effective Date: February 2, 2016 Table of Contents Page Rule 1. Purpose.... 2 Rule 2. Authority.... 2 Rule 3. Scope.... 2 Rule 4. Severability.... 3 Rule 5. Definitions.... 3 Rule 6. Funding Guidelines...

More information

The 2015 Landlord s Guide to tax, allowances and obligations

The 2015 Landlord s Guide to tax, allowances and obligations presents... The 2015 Landlord s Guide to tax, allowances and obligations While many people may have the desire to become a landlord of some sort, whether just owning a single flat as an investment, or

More information

EQUITY LOAN HOME STAY WHERE YOU BELONG. Seniors Finance

EQUITY LOAN HOME STAY WHERE YOU BELONG. Seniors Finance STAY WHERE YOU BELONG. HOME EQUITY LOAN Seniors Finance Welcome If you want the financial freedom to spend your retirement how you choose with independence and peace of mind knowing that unexpected costs

More information

NON-RESIDENTS PURCHASING REAL PROPERTY IN THE U.S.

NON-RESIDENTS PURCHASING REAL PROPERTY IN THE U.S. NON-RESIDENTS PURCHASING REAL PROPERTY IN THE U.S. A. The Attorneys Role in the Purchase of Real Estate The purchase of real estate in the U.S. without the proper assistance can become a complex transaction.

More information

Client Needs Analysis

Client Needs Analysis Date: YOUR DETAILS: Client Needs Analysis Full name (Client 1): Full name (Client 2): If Company and/or Trust: Company/Trust name: ABN/ACN: Registered address: Business address (if different from above):

More information

STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM

STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM STATE OF NEW YORK MORTGAGE AGENCY MORTGAGE INSURANCE FUND NEW YORK STATE HOUSING FINANCE AGENCY NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM NYHOMES CONSTRUCTION LOAN FINANCING PROGRAM The State of New

More information

5+ Key Components To Most Adjustable Rate Mortgages

5+ Key Components To Most Adjustable Rate Mortgages 5+ Key Components To Most Adjustable Rate Mortgages 1. Index rate The rate to which the interest rate on an adjustable rate loan is tied. One of the more popular indexes used is the 1-year U.S. Treasury

More information

Equity Investment in Real Estate Development Projects: A Negotiating Guide for Investors and Developers

Equity Investment in Real Estate Development Projects: A Negotiating Guide for Investors and Developers Equity Investment in Real Estate Development Projects: A Negotiating Guide for Investors and Developers Meredith J. Kane A good match between a developer and an equity investor requires a balancing of

More information

FHA Sections 220, 221 (d)(4) & 221 (d)(3)

FHA Sections 220, 221 (d)(4) & 221 (d)(3) FHA Sections 220, 221 (d)(4) & 221 (d)(3) FHA-Insured Financing for the New Construction or Substantial Rehabilitation Of Multifamily Rental Housing FHA Section 220 provides mortgage insurance for housing

More information

BOARD AGENDA: 1/13/09 ITEM: 7.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE AGENCY FROM: HARRY S. MAVROGENES BOARD EXECUTIVE DIRECTOR

BOARD AGENDA: 1/13/09 ITEM: 7.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE AGENCY FROM: HARRY S. MAVROGENES BOARD EXECUTIVE DIRECTOR BOARD AGENDA: 1/13/09 ITEM: 7.1 THE REDEVELOPMENT AGENCY OF THE CITY OF SAN JOSE MEMORANDUM AGENCY FROM: HARRY 1 S. MAVROGENES BOARD EXECUTIVE DIRECTOR SEE BELOW DECEMBER 19,2008 SUBJECT: REVISIONS TO

More information

PROJECTING YOUR CASH FLOW

PROJECTING YOUR CASH FLOW THE BUSINESS ENTERPRISE CENTRE S GUIDE TO PROJECTING YOUR CASH FLOW The Business Enterprise Centre is a member of Last updated 16 Jan 2015 TD Page 1 of 26 Preface A cash flow statement reports the outflow

More information

TAKING CONTROL OF YOUR PENSION PLAN. The value of pension contributions

TAKING CONTROL OF YOUR PENSION PLAN. The value of pension contributions TAKING CONTROL OF YOUR PENSION PLAN If you add together all the money you have in pension arrangements, the total may well dwarf every other investment you ever make. Despite this, many people are happy

More information

64168 MK3373(0209) TC45365(0209) Premium Financing Alternative Funding to Help Meet Your Life Insurance Needs

64168 MK3373(0209) TC45365(0209) Premium Financing Alternative Funding to Help Meet Your Life Insurance Needs 64168 MK3373(0209) TC45365(0209) Premium Financing Alternative Funding to Help Meet Your Life Insurance Needs What is Premium Financing? Simply put, premium financing is a strategy for paying for life

More information

OHIO SCHOOL FACILITIES COMMISSION FINANCIAL HARDSHIP LOAN PROGRAM GUIDELINES December 2003

OHIO SCHOOL FACILITIES COMMISSION FINANCIAL HARDSHIP LOAN PROGRAM GUIDELINES December 2003 OHIO SCHOOL FACILITIES COMMISSION FINANCIAL HARDSHIP LOAN PROGRAM GUIDELINES December 2003 Program Overview House Bill 94 of the 124 th General Assembly amended Section 3318.042 of the Ohio Revised Code

More information

THE SOUTH FLORIDA CHURCH OF CHRIST, INC.

THE SOUTH FLORIDA CHURCH OF CHRIST, INC. THE SOUTH FLORIDA CHURCH OF CHRIST, INC. FINANCIAL STATEMENTS THE SOUTH FLORIDA CHURCH OF CHRIST, INC. FINANCIAL STATEMENTS TABLE OF CONTENTS PAGES Independent Auditor s Report 1 Statement of Financial

More information

SafeGuard Capital partners

SafeGuard Capital partners SafeGuard Capital partners Private Lending: Mortgages & Trust Deeds 900 Washington St, Suite 800 Vancouver, WA 98660 877-280-5771 Private Mortgage Lending (Also Known as Trust Deed Investing) Most investors

More information

businessmortgagesolutions

businessmortgagesolutions businessmortgagesolutions Tel: 01834 849797 email: info@business-mortgage.com All you need to know about funding the purchase of a leasehold business Introduction Backed by over 20 years experience in

More information