Watch seminar first
Don’t forget to include a a reference in apa format the text book readings
Read Chapter 7: “Financing of Real Estate”
Unit 7 Assignment
Course Outcome addressed in this assignment
PA300-4: Analyze the role of debt in real estate finance.
GEL 4.01: Describe how personal experiences influence workplace culture.
Assignment Scenario
Amos Calvin, a new associate attorney at the law firm, has asked you to sit in on an interview with a new client, Mariah Johnson. Ms. Johnson has recently inherited a large sum of money and would like to purchase her first home. However, since this will be Mariah’s first real estate purchase, she is confused about the role debt can play in financing the purchase of real estate.
Following the interview with Mariah, Amos tasked you with preparing a client letter explaining to Mariah three different types of mortgage payments commonly utilized today in the real estate industry. Amos has tasked you with preparing at least a 2-page, single-spaced client letter addressed to Mariah that analyzes and explains the role debt will play in financing her first home.
Within your letter, you are to define and explain how fixed-rate, adjustable-rate, and interest-only mortgages work. You are to analyze the pros and cons of fixed-rate mortgages, focusing on the stability of fixed monthly payments and the impact the loan term can have on interest rates and overall cost. Within your discussion of adjustable-rate mortgages, you need to analyze the potential benefits of initially lower interest rates and the risks associated with future rate adjustments, including the possibility of increased payments. Finally, in your discussion of interest-only mortgages, you are to analyze the short-term benefits of lower initial payments and the long-term considerations, including the implications of the balloon payments at maturity.
Assignment Instructions
Draft at least a 2-page single-space client letter discussing the following issues:
-Define and explain how fixed-rate mortgages work, analyzing the pros and cons, focusing on the stability of fixed monthly payments and the impact of the loan term (e.g., 15, 30 years) on interest rates and overall cost.
-Define and explain how adjustable-rate mortgages work, analyzing the potential benefits of initially lower interest rates and the risks associated with future rate adjustments, including the possibility of increased payments.
-Define and explain how interest-only mortgages work, analyzing the short-term benefits of lower initial payments and the long-term considerations, paying particular attention to the implications of the balloon payments at maturity.
Last Completed Projects
| topic title | academic level | Writer | delivered |
|---|---|---|---|
| Your mom is pre-diabetic and her doctor wants her to make some changes to her diet and lifestyle. List and explain your top three food/lifestyle suggestions and how you recommend that she incorporate them into her day | Master's | Adrian M. 4.9 ★★★★☆ | 11 hours 47 min 32 sec ago |
| Under the INA, does the President have the legal authority to suspend the entry of all Swedish citizens into the United States solely based on their nationality? | Freshman (1st year) | Garrett S. 4.8 ★★★★☆ | 7 hours 31 min 15 sec ago |
| The “final research paper example” shows how the essay should be set up. It should be set up directly like the example. The assignment instructions is under the file called “copy instructions for essay” | Junior (3rd year) | Leo W. 5.0 ★★★★★ | 0 hours 6 min 21 sec ago |
| What changed in your submission? If you do not have any changes to apply, please note that as well and include a rationale for why no update was required. | Senior (4th year) | Charlie O. 4.7 ★★★★☆ | 1 hours 14 min 56 sec ago |
| Write up a brief explanation of your design choices, with an emphasis on user friendliness, efficiency, and error reduction. | Master's | Ulysses F. 4.5 ★★★★☆ | 6 hours 18 min 47 sec ago |
| Challenging Social Norms-Explain what social norms are related to the social issue and who is affected by these social norms. | Junior (3rd year) | Ian U. 4.7 ★★★★☆ | 3 hours 35 min 37 sec ago |
| Army Recruiting-What’s the greatest leadership challenge that we face as a command?(Army Recruiting) | Junior (3rd year) | Nolan Y. 4.5 ★★★★☆ | 6 hours 28 min 22 sec ago |