Welcome to our second edition of the XM LOANS Ltd. newsletter “The Mortgage Optimizer” which addresses topical issues regarding Mortgages and Home Ownership.

In the last thirty (30) days many of you have taken the opportunity to visit our website and have called or emailed us with your well wishes and congratulations. Moreover, some of you have already engaged our services, and I am delighted to report that we have already had clients approved for mortgages.

Over the next thirty days (30) our goal is to widen the base of our readership as well as to discuss topics that are of concern to you. Furthermore, as will be seen in this edition, we have included the insightful contribution of a professional from the related Finance & Retirement Planning industry to broaden the scope of information available in this newsletter.

With that said, I am pleased to inform you that this month Mr. Glen Ferguson, Financial Consultant will be giving you tips on how you can become a millionaire by retirement.

Why You Need a Mortgage Broker

To the uninitiated, this may appear to be a simple question. But upon further consideration, one would realize that to ignore this question or minimize its importance could be the cause of significant mis-steps in the pursuit of home ownership.

Your XM LOANS Mortgage Broker recognizes that home ownership will most likely be the single largest financial investment you will make in your lifetime. And with so much at stake, it forces us to ask why someone would approach this enterprise without adequate representation. Your XM broker is obligated to seek the best mortgage loan in the market for you. This means that your application is likely to be simultaneously sent to multiple banks for approval. This changes the dynamic of mortgage banking from one where you are “chasing” the bank to give you a mortgage, to one where you have multiple banks “chasing” you to give you a mortgage.

We would be hard pressed to find a borrower who is decidedly against being empowered in this way. Having the power to compare offers and chose who to give your business to, is fundamental to ensuring that you are selecting the best product [and yes, a mortgage is a product] for yourself and your family.

As we’ve said before, our ultimate goal is to provide you with multiple approvals for your mortgage loan, placing you in a position to choose who you give your business to, based on who’s offering the BEST RATES and BEST TERMS. We are here whenever you need us…. “Real Solutions, Real Time©!”

Are you thinking RIPE?

I’m sure that you may not have been asked this question before and you may be taken- a- back by it. You may not even understand what I’m talking about. But Does Your Life Include a RIPE Plan? — Do you have concrete plans in place for your Retirement, Investing, Protection, and Estate Planning?

Most times we feel that these only apply to the aged, wealthy and person who are ready to die. But no matter your age or how long you’ve been working it’s never too early to get RIPE!

As a matter of fact, the younger you are, the greater the chance you will have of becoming financially independent at an early age. Being RIPE is a sure bet to helping you avoid ending up in the “poor house” and it’s very easy to end up there if you don’t watch what you are doing and start PLANNING for your future.

Today we’ll look at the first step in getting RIPE – Retirement. Realizing that no matter your age or how long you may have been working that it’s never too soon to start planning for your retirement.

It may surprise you to learn that you may be spending more time in retirement than the years you have spent working. That’s right; your retirement can last for 40 years!

With the advances in modern medicine and technology most of us can expect to live to a ripe old age. This can be a “wonderful opportunity” or it can be a “huge problem.”

On average, you know that we will be living longer but are you aware of the financial impact this increased life expectancy will have on your retirement plans?

A retirement of 20/30 years or more will require a significant amount of money, and that is why it is so important that you think about and plan for your retirement.

What kind of lifestyle would you like to have?
What income will you need to support that lifestyle?
What sources of income will you have and how much will they provide?
Will these sources increase with inflation?
Will you have to or want to work beyond your normal retirement age?
What will you be able to do to produce additional income?

Remember, when our National Insurance Plan was implemented in 1974, life expectancy was less than 65 years. The actuarial numbers that the experts give us vividly illustrate the importance of building an adequate retirement fund and also designing a smart strategy for withdrawing those funds so that you won’t “run out of dollars before you run out of days.”

That is why it’s important for you to start planning today!

You wouldn’t go on a week’s vacation without thinking about the clothes you should pack, how much money you should take or making hotel and car reservations, would you? If you did your trip could be ruined. Similarly, your retirement journey maybe jeopardized by your ill-preparedness.

Glenn S. Ferguson is a Speaker, Coach & Syndicated Writer, helping you too painlessly spend, save, invest, insure and plan wisely to create wealth for you and your family. Email to: glen@coralwave.com Website: www.investinginyou.org Tel: 242-327-2453 Fax: 242-327-2457.

From the President’s desk….

Troy Sampson
Troy Sampson, President & CEO

Having read our inaugural newsletter last month, I will assume that you have gotten over the shock of my departure from my previous company. With that behind us, I would like to venture a little more into what the planned impact of XM LOANS Ltd. will be regarding mortgage lending in the Bahamas and Caribbean.

Let me just say that, as impressed as you may be with the current iteration of our website and qualification platform, the best is yet to come. XM will, in the coming months, continue to morph into a more user friendly tool for clients. In the not to distant future, you will experience the integration of related products and services into this process as well.

The future of home ownership in a more modern and convenient way is now. The paradigm has shifted, and those who do not realize this will experience a strategic inflection point that may signal a significant change in their business. But we are hopeful that the “rising tide that is XM Loans, will lift all boats”. However, we are ultimately committed to the best interest of our clients, and will do everything to secure their dreams.

We invite you therefore to take this journey with us as it is our sincere belief that we will help to re-shape a stagnant industry that has operated according to the status quo for the past 25 years. XM Loans, we are here when you need us!

Your monthly mortgage tip!

Homeowners

Further to last month’s tip, you now realize that you have to start at the beginning. With that concept in place, where do we go next?

In order to make the most of the consultation with your mortgage broker, you must have done some preparatory work as well. What do we mean by that? As our grandmothers' sometimes say, “talk is cheap, money buy land”. This old adage simply refers to the fact that anything worthwhile will require you to expend your financial resources.

Once we have met to determine how much house you can afford, the next step will be to ensure that you have the required down payment to place on the house, property or apartment, otherwise we can go no further.

Therefore, a disciplined savings plan must be a part of your preparation for home ownership. Generally, your upfront cost will be five (5%) percent of the price of the property under consideration. After your mortgage has been approved, there is more money to pay in the form of “Closing Costs”. The closing cost can total approximately seven and a half percent (7.5%) of the mortgage amount and in some cases it may be less. In any event, you can see that getting a mortgage is a cash intensive proposition, so having a adequate savings is very important.

No seller or realtor will take your request to purchase property seriously unless you can commit a down payment. To find out how much can afford and how much money you will require. Click here to submit your information and we will email you your down payment and closing cost estimates.

HAVING ADEQUATE SAVINGS IS CRITICAL TO HOME OWNERSHIP – MAKE SURE YOU HAVE A SAVINGS PLAN!

1(242) 225-3873 or 1(800) 303-3934
www.xmloans.com

The material contained in this newsletter has been prepared by XM Loans Ltd. 404 Bay Street, PO Box N-4443, Nassau, Bahamas and independent feature contributors. The material provided is for informational and educational purposes only and should not be construed as investment, financial, real estate and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.

As your Trusted Advisor, we always want to make sure you are clear on all details of the home financing process. If you or someone you know are interested in purchasing or refinancing a home, give us a call today! XM Loans Ltd. is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. The Mortgage Optimizer does not grant to the recipient or distributor a license to any content, features or materials in this email. You may not download, or save a copy of any of the content except as otherwise provided in our Terms and Conditions.

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