2007 July 09 | Wheatworks Blog: Financial Matters

Archive for 9th July 2007

Saving for a Down Payment Will Become Necessary Again

7/9/2007, 4:37 pm

The last few years have been an odd time for home buyers. Adjustable Rate Mortgages with little or nothing down have been the order of the day. However, ARMs have also hurt a lot of home buyers who can’t keep up with the rising payments as the mortgages adjust.

One thing most experts expect is the return of the down payment. So many risky loans have been made during the recent housing market boom, that lenders have been taking significant hits. As ARMs readjusted and home buyers couldn’t afford to make the larger monthly payments, lenders have been left holding the bag more often than they wish.

And because many mortgage loans made in the recent past required no down payment, lenders are being left holding the entire bag. And in many of these cases, because of the recent decline in appraised values, the bags the lenders have been left holding are larger than the value of the property.

Down payments offer lenders a form of protection when a loan goes into foreclosure. The lender at least has the down payment. Also, history seems to indicate that the more of their own cash a home buyer has in a home, the less likely they are to walk away from it.

The financial hurdle for young home buyers in the future won’t occur on the back side due to rising monthly payments they can’t afford to make. Rather, it will occur on the front side: the hurdle will be saving enough money for the down payment required to purchase a home.

Real Estate Calculator Suite, from Wheatworks Software, has two Down Payment Savings Calculators, that help you discover how long it will take to save a desired amount and how much you must save each month to save a certain amount by a particular deadline.

Learn more about Real Estate Calculator Suite and its Down Payment Savings Calculators at Real Estate Calculator Suite.

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RECalcs.com: Promotional Software for Real Estate Agents

7/9/2007, 4:12 pm

RECalcs.com has launched a new personally-branded, promotional loan calculator for real estate and mortgage professionals which displays a professional’s name, photo, agency graphics, contact information and links to Internet services and email addresses.

RECalcs.com brands the popular LoanSpread Financial Calculator with an agent’s or broker’s corporate graphics turning it into a promotional item which can give to home buyers and financial services clients.

Personally branded for advertising, LoanSpread Financial Calculator, a WindowsÂ®-based loan calculator which simultaneously compares 135 different loans, is designed to assist home buyers with the financial considerations related to purchasing a new home while constantly reminding the home buyer of the agent, broker or agency which provided the branded software.

Home buyers think in a focused way when using a financial calculator. When that financial calculator is branded, the home buyer can’t help but think of the professional whose photo and contact information is in front of them, built into the software.

RECalcs.com’s personalized calculators are designed to be given away. They are offered as downloads from real estate and mortgage web sites, banks give them away on CD-ROMs at teller windows, real estate agents offer them on diskettes at open houses, and financial authors have included their branded software with books. They’re useful, too, as collateral marketing material.

RECalcs.com’s promotional software is a marketing tool which helps real estate and financial professionals gain the edge in the competitive field of real estate and loan origination by allowing professionals to promote themselves while giving clients a great way to play with the numbers related to their financial transactions.

And because this custom branded software is designed to be given away for promotional purposes, the distribution license provides broad, royalty-free, distribution rights.

Learn more at http://www.recalcs.com.

About RECalcs.com

RECalcs(tm) is a promotional software division of Wheatworks Software, LLC. Since 1997, Wheatworks Software, LLC has created innovative financial calculators for consumers, professionals and companies in the real estate and financial services industries.

CONTACT INFORMATION:
Rick Wheat
Managing Partner
Wheatworks Software, LLC
http://www.recalcs.com

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