Calculating Wealth : A Primer on Assets and Liabilities All money coming in or going out of a business is recognized on the balance sheet as an asset, a liability or owners’ equity. An asset is anything a company owns that has future value. Cash, property, equipment, inventory, accounts receivable, investments, vehicles and intellectual property such as copyrights, trademarks and patents are a...
Why Appraisals Are Important to Lenders - If you’re planning to finance a property, be it for a purchase or refinance, you will need an appraisal. The appraisal is done to help your lender determine the value of the property compared to other similar properties in that area. Knowing the value of a property will let the lender know if they are lending an appropriate amount of money for the p...
How to pick the right mortgage professional?? In the past 14 years of helping making the American Dream a reality, one of the biggest questions borrowers ask (besides what is your rate?) is why should I use YOU instead of another lender? (This will be the first time I write on this topic so please bear with me….) There are several reasons that I feel are the most important in choosing a mor...
- How to Calculate Your Debt-to-Income Ratio - Before you embark on your home search, your first consideration should be how much you can afford to pay. You need to establish what your monthly payments should be and that means understanding how your usable income is calculated. The starting point of any income calculation begins with gross, or before-tax, income. Regardless of what you...
How Your Credit Score is Calculated - Credit scores are becoming increasingly important, with many employers even factoring this into their hiring decisions. A credit score is based on a credit report, which is a detailed account of one’s credit history, borrowings, repayments, and credit inquiries. It indicates the financial responsibility of an individual, including on-time monthly paymen...
- How to Put Together a Simple Cash Flow Budget - As a small-business owner, it’s up to you to make sure your company has the financial wherewithal to stay afloat, the resources to achieve your business goals and the reserves to fund growth - next week, next month and next year. This requires planning, analysis and a good cash flow budget. A cash flow budget, also known as a cash flow foreca...
February 1st, 2013 
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What You Need to Know About Depreciation - Depreciation is an income tax deduction that lets you recover the cost of certain property. To qualify as a depreciation deduction, property must meet the following criteria: You must own the property. You must use the property in business or in an income-producing activity. The property must have a useful life of more than one year. ...
- Tips to Help You Get the Best Mortgage - Finding your dream home is easy, but obtaining a competitive home loan is not. Thankfully, with sufficient planning, you can obtain the best mortgage possible – providing you with significant financial savings in the long run. Check for Credit Score Errors The most important element of obtaining a competitive loan is your credit score. Even if yo...
December 21st, 2012
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Who’s On First?: Overview of The Players in the SBA Lending Process The SBA is one of the most vibrant sources of funds and tools for small business owners. Their lending programs, especially the 504 program, make it possible for all types of small businesses to secure needed funds to continue to grow their business. It takes many people to successfully secure and close an SBA loan. Knowing who...
December 17th, 2012
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- Leverage your Buying Power With Blanket Mortgages - Most real estate investors have two simultaneous goals they want to achieve from their investments. These are equity and cash. Sometimes they are intertwined; for example, when you sell your property you convert your equity into cash. But sometimes they are completely separate, as happens when you have a property that generates cash as a rent...
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