How Do Home Loan Brokers Get Paid?

If you are looking to purchase a new home, you should be ready to experience a time full of home tours, short lists and memories. However, if you are new in this field, you may find it hard to get a mortgage.

You may not have the time to get in touch with different lenders, check details and apply for a mortgage. In this case, it’s better that you contact a mortgage broker for assistance. You should know a few basic things before you work with a good professional. The first question is, how do home loan brokers get paid? We are going to answer this question in detail.

What do Mortgage Brokers do?

To finance your purchase, you may contact a bank or a loan provider. Since a bank is just an institution, it can offer a lot of loan options. Therefore, it may not be able to meet your needs.

On the other hand, if you contact a mortgage broker, they can offer a lot of loan options from a lot of lenders. The role of these professionals is to look for the best mortgage rate based on your needs.

For instance, if you need to buy a house but you can’t pay more than 5% of the house price as down payment, the remaining amount will be covered by your mortgage loan. Your mortgage specialist can find a lender that can agree to these terms.

With this type of specialist, you can easily look for a lender who is ready to provide you with the money you need to buy your desired house.

How do Loan Brokers get paid?

First of all, it’s important to keep in mind that these brokers are not bank employees. They are independent workers with proper licensing. Therefore, they get paid in the form of service fees. The payer of this fee can be you, the lender or the borrower.

Typically, this fee is a percentage of the total loan amount, which can be around 2%. The dollar amount is paid upfront or made part of the loan.

Although the commission is only 1% to 2% of the amount, it can be a lot of money for the broker. Based on the number or size of the loan, the fees may vary. However, the good thing is that there are no hidden fees.

The good news is that loan brokers are required to reveal all the fees before they sign a contract. Therefore, you will have to pay only the amount disclosed by them. Aside from this, each fee must be listed on the document. You can ask the broker about all the fees and the purpose they are given on the list.

Before you apply for a mortgage, we suggest that you figure out all the fees that you will have to pay. After all, you don’t want to face surprises at the end.

Harness the Potential of Technology in the Homebuilding Process

Homebuilders who aren’t interested in offering technology integration as part of their business model are now firmly in the minority. This point is proven by research from the CEA’s annual “State of the Builder Study,” which was compiled in conjunction with the NAHB Research Center. It states that 85 percent of builders believe technology is important in the marketing of a new home. The applications of this technology are extremely compelling to homebuyers: entertainment, whole-home control, security and more that can come with their new house, instead of them hunting for it on the aftermarket.Clearly, in these extremely competitive times, the time is now to embrace technology (if you haven’t already). And thanks to some retrofit technology that’s on the way, it’s effectively yesterday! Allow me to elaborate.Structured wiring and powerline
Wherever possible, structured wiring is a must for the 21st century home, bundling all of the home’s communications wiring into one coherent system. These bundles can include wiring for home networking, telephone, video, audio, alarms, infrared remote control and more. Running these wires before the walls are closed is more cost-effective and less disruptive than ripping up walls to do so at a later date. These bundles also serve as a Trojan horse, giving builders the opportunity to approach the homebuyer with new technological offerings as they become available.Structured wiring has some inherent advantages compared to more slapdash wiring installations. With all of the cables running back to a central wiring panel, it’s easy to change how and what each individual cable is connected to and what it is used for. Structured wiring also makes troubleshooting a snap, since each of the cables can be isolated and tested for problems. Furthermore, because all the cables run back to the central wiring panel, they can all be connected to the same source without the need for some outlets to pass through more splitters and splices than others. This greatly improves the consistency of signals.Structured wiring isn’t a good fit for every builder or every situation, however. With that in mind, here’s some great news. If you’re not willing to commit to structured wiring, a new option that leverages the electrical wiring in a home to transmit audio, data and more is on the horizon. This technology will allow you to retrofit your existing housing inventory at a reasonable cost and with minimal disruption to add a fresh twist for wooing homebuyers. The system will also provide an alternative way to offer some technology to homebuyers if you aren’t yet investing in full-blown structured wiring for new builds. A multi-room audio system using this technology will be available later this year with other solutions certain to follow.The first feasible multi-room audio system using powerline technology will be available later this year with other solutions certain to follow. If you hear the name Renovia in the near future, you now have the inside scoop.Explore Quick and Easy Demos
Demonstrating technology, particularly architectural consumer electronics like multi-room audio, has long been a thorny issue for home builders. A prominent objection is the expense. So consider this inexpensive trick to introduce the multi-room audio concept into your model home at a fraction of the cost of installing a full-fledged multi-room audio system. It starts by utilizing the consumer’s own music with an appliance they know and understand: the iPod.Multi-room audio today is a more compelling new-home option than ever because it ties directly into the exploding concept of “My Music” among consumers. The advent of portable music players like the iPod has enabled music collections to go virtually anywhere their owners go. Many home buyers would welcome the extension of “My Music” to an entire home. By providing a simple music demonstration, you can entice home buyers by showing them how uncomplicated, powerful and fun a multi-room audio system can be.Simply install an amplified source input and connect it to an iPod dock and in-wall or in-ceiling speakers. Set up a location in the room where an on-wall audio control pad would go. You don’t need to install a live control pad, just a blank plate covered with a transparent graphic that shows what a control interface would look like. Install this demo in the most public of spots in the home-the kitchen. Allow the home buyer to plug his or her iPod into the dock and hear the music instantly over the speakers. The demo will show the home buyer how easy it would be to hear “My Music” over the home’s audio system. It will make an immediate “I want that” impact on the home buyer: “Here’s something that will make life in this house simpler and richer.”This unique selling approach is highly affordable. Roughly speaking, a pair of speakers runs $200, an iPod dock runs $49, and an amplified in-wall local source runs $125. Add a nominal cost for speaker wire and installation, and you’ve got a slick demo that doesn’t break the bank.Find Your Digital Path
Believing technology is important, as the aforementioned CEA-NAHB study found, doesn’t make it easy. The complexity of choosing and installing home technology systems and products has always been the biggest hurdle for homebuilders, and it remains so. Low-voltage integration of consumer electronics products requires specialized skills, especially when dealing with proprietary technology platforms, rapidly changing technologies and user preferences, and the unique programming and configuration models many systems employ. Acquiring these skills-either by partnering with a local electronic systems contractor (ESC) or hiring your own talent-can be expensive and time-consuming. The builder just wants it to be profitable.
The current slowdown is giving us all a chance to reconsider, reflect and reboot what we do and how we do it. Right now is the time for the builder to consider this: What kind of technology offerings do my potential homebuyers want? Once you definitively answer that question, you can build a new, updated strategy from there-before you make any investments that may or may not be as focused and efficient as they should be.Homebuyers in 2009 are far more sophisticated about technology than they were even five years ago. Smart phones, multi-room entertainment systems, networked PCs, HDTVs, iPod docks, GPS systems and powerful universal remotes, among other products and concepts, have changed the way homeowners and homebuyers view technology. It’s no longer considered a convenience or a luxury to be “connected.” It’s now a lifestyle necessity. It’s something people expect, and it’s something that can and should be profitable for homebuilders.Identify what homebuyers care most about. Is it security, entertainment, energy management, convenience? A newly married twenty-something couple is probably going to get more excited about streaming music from their iPods all over the house, while a five-person family might want a dedicated home theater for movie nights and the ability to monitor security cameras from any TV in the house. Get a good sense of your target demographic’s needs, and explore and build your technology strategy and options from there.In-House or Partnerships?
One way larger builders are adding technology integration services is by hiring ESCs. These professionals often are members of the Custom Electronics Design and Installation Association (CEDIA), the main trade association for ESCs, which provides them training, certification and education. Both CEDIA and the CEA both offer a wealth of educational information for builders that includes best practices for technology installation.Ideally, every builder would be able to employ one or more in-house ESCs who could control the customer experience and installation process. Unfortunately, not every homebuilder has the resources to expand in this way, so long-term partnerships with reputable ESCs are the next best option.The worst nightmare for a builder is to hire an unfamiliar “tech guy” at the homeowner’s request who comes in, does the electronics and wiring installation, collects his check and is never heard from again. The builder is often left holding the bag, but unfortunately is simply not equipped to troubleshoot any sort of A/V or electronics systems issues. Homeowners don’t want to hear this, however.Before working with any independent ESC, demand that the ESC will be responsible for all follow-up service calls. The builder must be certain that the ESC will provide support over the long haul; if not, the installation should not proceed. By building a strong partnership with an ESC, the builder will gain a loyal and trusted A/V specialist on call who can provide punctual, effective service, rather than always scrambling at the last second to find someone to consult or, even worse, leaving it in the homeowner’s hands. Fortunately, collaboration between CEDIA, CEA and NAHB is at an all-time high and each trade group provides resources for pairing up homebuilders with ESCs on a local level.Involvement early in projects allows the ESC to plan progressively not only with the builder but with the other trades in order to avoid costly and unnecessary changes to wiring, closet/outlet placement and other things that can affect electronics installation and performance.Regardless of whether services are contracted or offered in-house, it’s wise for builders to have an understanding of “good, better, best” technology solutions for their customers. By offering coherent and appealing electronics packages, you can better keep on-time and on-budget. Avoid customization in all but the largest luxury homes, where price is secondary to the homebuyer and the sky is the limit.Whether through an in-house staff or a partnership with an independent ESC, home builders need to find the technology models that work best for them financially and logistically. Ignoring technology is no longer an option when dealing with today’s homebuyers. Fortunately, those of us in the electronics industry are willing and able to help builders get where they need to go. We’re willing and eager to do great work for you-both in your upcoming projects, and to help you sell your existing inventory.

Why Good Nutrition and Physical Fitness Is Vital to Good Health?

Health, nutrition and fitness are the three interrelated areas that determine an individual’s sense of happiness and well being.

Health
Health involves the physical, mental and spiritual levels of the individual. A physically healthy person is one who can carry out normal daily physical activities and respond to emergencies with out undo fatigue or pain. The health part of health, nutrition and fitness is achieved through a balanced program of good nutrition, healthy physical activity, continuous education and mental activities, and social and spiritual activities. Your choices of the food you eat and your physical activities affect both your short term and long term health (how you feel now and in the future). You may be getting plenty to eat, but if it is not a proper balance of choices from all five of the basic food groups you may be adding fat to your body without generating the energy to burn the calories and energy to the cells to carry out their functions. Healthy physical activity helps burn off any excess calories you consume, and keeps muscles and joints flexible and strong. Your efforts of continued education (reading, attending seminars, as well as attending formal education classes), and spiritual activities (social activities, attending devotional services, meditation, etc) provides you with a sense of accomplishment and well being. An important part of good health is being physically fit and maintaining proper body weight. Maintaining good health requires following a nutritional diet, and exercising to build and maintain muscles, and to burn of any excess calories.

Nutrition
The nutritional health part of health, nutrition and fitness deals with the food we consume to maintain our health and provide energy to carry on our daily lives. Nutrition is the process of nurturing or being nourished; the total of all the processes that a plant or animal uses to take in and process food substances to maintain a healthy life. A healthy nutrition life style requires a balanced diet of food selected from the five basic food groups, fruits, vegetables, naturally calcium rich dairy products or calcium enriched products, whole grains, and protein (lean meat fish, peas and beans). Other nutritional factors should also be considered. Most fruits and vegetables are better if they are consumed raw because heating destroys some of the healthy nutrients. Steaming and broiling food is better than boiling or frying foods. Preparing fresh fruits and vegetables is better than processed or prepared foods.

The prepared foods generally contain more salt (sodium) than necessary and other flavor enhancing substances. Some of these additives do not add any nutritional value to the food and may even be harmful to your health. More nutritional factors to consider are the variety of the fruits and vegetables in our diet. Nutritional data shows that dark green vegetables (romaine lettuce, kale, broccoli, etc.), and orange vegetables (carrots, sweet potatoes, pumpkin and summer squash) provides more nutritional value than some of the less colorful vegetables. Here are even more nutrition facts. Some foods contribute to burning fat. Green tea contributes to fat burning by increasing the body’s metabolism and increasing energy level. Foods high in protein are more difficult to digest so they require more calories in the digestive process. Good nutrition practices may not be sufficient for some people they may require unique supplements such as CoEnzimeQ10 or others.

Physical Fitness
Physical fitness part of fitness, health and nutrition is the ability to carry out daily activities, enjoy leisure activities and have a healthy immune system to resist disease and infection. Developing and maintaining good physical fitness requires a balance of good nutrition and varied physical exercise. There are there elements to physical fitness: specific fitness the ability to perform daily functions related to work or recreation, general fitness the ability to enjoy leisure time and a sense of peace with the environment, preparedness the ability to over come or avoid emergencies.

There also three factors in achieving good physical fitness good nutrition, physical exercise and restful (sleep). The nutrition maintains the health of the cells and provides the energy to perform the exercises. Physical exercise may be used to accomplish work to earn a living, participate in athletic events, develop and maintain healthy cardiovascular system, or control body weight. Physical fitness and how physical fitness is achieved varies depending on individual. If a person is involved in an occupation that requires vigorous activity and has good nutrition possibly no other exercise is needed to maintain a fit body.

However, even people who are who work hard at their occupation may need additional cardiovascular exercise to keep their heart and blood vessels in optimum condition. People whose profession does not require vigorous physical exercise special effort is required to achieve and maintain physical fitness. A good nutritional diet is the obvious starting point. Some easy things are use stairs rather than elevators, park a little farther from the office or store entrance, throw away the television remote, change channels the old fashion way, and walk to near by offices or neighbors rather than using the telephone. These efforts will help, but more vigorous physical exercise is needed for good physical fitness.

For cardiovascular health a routine of physical exercise over a period a minimum of 20 minutes three times per week is required. The best and generally most convenient cardiovascular exercise is walking. Another good cardiovascular exercise is swimming. Swimming will also help in building and toning muscles. The other factor in developing and maintaining physical fitness is strength exercise to build and tone muscle and to burn fat. Strength exercises are good for weight management because they stimulate muscle growth even after the exercise has been completed. This means that the body continues to burn fat for an extended period of time.

Mental Health
Mental health, as it applies to health nutrition and fitness, is the way we think, how we feel and how we act as we interact with our surroundings. Our mental health contributes to our relations with other people, how we make decision, make choices and how we cope with stress. People with good mental health are able to control their emotions, feelings and behavior. Keeping the mind active through reading, playing games, and an active social life contributes to good mental health.

Spiritual Health Spirituality can be defined as sensitivity or attachment to religion, or as a state condition of being spiritual. Some people ignore or overlook the importance of spirituality in relation to health nutrition and fitness, because they relate spirituality only to religion. Through out history man has struggled with the concept of spirituality. Basically spirituality is the struggle to become the most perfect person or individual. The path to achieve this goal may be through seeking external help through religion of some form, or internal through meditation and study of both present and past human interactions. The above is based on personal study, experiences and observations through out my life.