OCR Text |
Show 1976 Enterprise Review , March 31, Page 12b PROFITABLE ADVERTISING is our business. You ought to make it yours. Fred Hinckley Advertising Cgg) Production (IsTServices Continental Bank Bldg. Salt Lake City, Utah 84101 Telephone 41 1 364-211- 2 continued from page 10b another form of investment, the bank loses $2.50 to $5.00 in creative loan capacity. Saving and Loans . Loans from Saving and Loans Associations play a major role in home financing. Monies available from these sources are divided, for real estate pur- poses, into two different forms. Conventional, which is not supported by government insuring agencies, and FHAVA, programs that are insured by the agency and almost guaranteed a sale on the secondary market; hence the points. Rates will vary between firms and shopping does seem in order, but a strong lender that you have delt with in the past may be more useful in the long run. It seems that the private mortgage market, led by saving will be at and loans and mortgage loans for real estate lenders, will find new ways to a premium. make the funds flow into the The above three methods market place. These sources those thought of to are quite innovative and are are usually transfer the ownership of a usually more aggressive. It If those fail, here must be remembered that residence. are a few methods that are money is bought and paid for in the market to act as like any other commodity and used alternatives. scarcity increases the cost. We must also not forget that as Insurance Companies and long as the federal governTrust Funds . Loans are curment is curbing inflation, rently available to a very limited extent on larger housing projects where very little servicing is needed. . Government Insured Financing . Where this form of financing was an alternative some years past, it is now a viable source today. In gen- iTiTmTI eral FHAVA buyers qualifications are based on a minimum cash initial investment, with the future ability to repay the loan from monthly earnings and the buyers history of work and credit habits. muiiumnn toy-,- . Purchase money financing. It is simply financing taken back by the seller and secured by the property being sold. Second Loan Offers to Purchase. In discount point sales, the seller may carry back purchase money financing in the form of a second loan. He is thinking about saving the points by holding a second loan. mV. '?)tl" m Created Trust Deeds. This form is used where the buyer owns property which has substantial equity but is not quickly liquid or he has no desire to sell at this time. . I' Everybody's yot the deep plush carpets, the woodpaneliny and the chandeliers. Equity Loans. Simply, loans given the seller on equity on a home to be sold and to be repaid at a later date, usually when sold. Lease with Option to Purchase. Used when property held is used for the purpose of producing income. Income is generated by the lease with the purchase being the fnal We give you service. Fast, personal, step. and at the most reasonable rates. In in Working with .us is a pleasant experience. Were experts dealing with people as well as in making First Mortgage Loans, FHA, VA and Conventional. You and your buyers will enjoy dealing with us. We put the real in Realtor. We validate your parking. And we also have the deep plush carpets, the wood paneling and the chandeliers. Come in. Lets get acquainted. selves . Lombard Mortgage and Thrift Suite 500 Continental Bank Building Salt Lake City,Utah 84101 Telephone any event, when approaching a lender for financing, here are a few pointers that may help. Lend- ers appreciate concise information and will extend them- - First Mortgage Loans FHA, VA and Conventional x (801)532-742- 4 fSj tOUKHOUMC LENDER when properly approached. When submitting loan information to a lender, a business-lik- e approach will usually pay dividends. A lender is not interested in feats of salesmanship. He is an appraiser and a credit analyst. His job is to investigate the paper profile of the potential borrower as to risk potential. When money is readily available, a lender will ease his credit restrictions and will look for reasons to make a loan at minimum interest rates. As the available supply of money becomes short, lenders requirements tighten and orders are issued by head offices to only take certain types of loans and risks. |