1. Loan Options Which loan is best for you? Team 7
By: Guy Canedo, Nathan Sheagley, Thomas Nashed

2. Responsibilities
Thomas Nashed - Organizer He will be gathering the information regarding each loan, and their differences.
Guy Canedo – Summarizer He will be taking the information and comparing and analyzing the data.
Nathan Sheagley – Techie He will take the analyzed data and present it graphically and understandingly on PowerPoint.

3. What Are We Doing?
When buying a house, one comes across several different loan options. We will distinguish the differences between them and give each ones advantages and disadvantages. The loan options we will cover are:
Fixed Rate Loan
Interest Only Loan
Adjustable Rate Mortgage (ARM)

4. Scenario
Assuming we want to buy a $500,000 house in Pomona, California.
Which loan would be best if we decided to only live there for a few years.
Which loan would be best if we wanted to live there for a long term.
Which loan would be best if we didn’t know the term of our stay.

5. Resources Interest Rate Quotes from the Bank
Internet research on appreciation of house values.
Interview with a former Mortgage consultant.