Loan Options

1
Loan Options

• Which loan is best for you?
• Team 7
• By Guy Canedo, Nathan Sheagley, Thomas Nashed

2
Responsibilities

• Thomas Nashed - OrganizerHe will be gathering
  the information regarding each loan, and their
  differences.
• Guy Canedo SummarizerHe will be taking the
  information and comparing and analyzing the data.
• Nathan Sheagley TechieHe will take the
  analyzed data and present it graphically and
  understandingly on PowerPoint.

3
What Are We Doing?

• When buying a house, one comes across several
  different loan options. We will distinguish the
  differences between them and give each ones
  advantages and disadvantages. The loan options we
  will cover are
• Fixed Rate Loan
• Interest Only Loan
• Adjustable Rate Mortgage (ARM)

4
Scenario

• Assuming we want to buy a 500,000 house in
  Pomona, California.
• Which loan would be best if we decided to only
  live there for a few years.
• Which loan would be best if we wanted to live
  there for a long term.
• Which loan would be best if we didnt know the
  term of our stay.

5
Resources

• Interest Rate Quotes from the Bank
• Internet research on appreciation of house
  values.
• Interview with a former Mortgage consultant.