Start-up Funding | |
Start-up Expenses to Fund | $20,050 |
Start-up Assets to Fund | $59,950 |
Total Funding Required | $80,000 |
Assets | |
Non-cash Assets from Start-up | $20,000 |
Cash Requirements from Start-up | $39,950 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $39,950 |
Total Assets | $59,950 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $30,000 |
Accounts Payable (Outstanding Bills) | $10,000 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $40,000 |
Capital | |
Planned Investment | |
Investor 1 | $20,000 |
Investor 2 | $20,000 |
Additional Investment Requirement | $0 |
Total Planned Investment | $40,000 |
Loss at Start-up (Start-up Expenses) | ($20,050) |
Total Capital | $19,950 |
Total Capital and Liabilities | $59,950 |
Total Funding | $80,000 |
Our personal goal is to break through the barriers that impede homeownership for those who wish to realize the American Dream. We provide potential and current homeowners the opportunity to find the best mortgage loan for their needs.
We match buyers to loan programs. We have an extensive questionnaire for our buyers to list their wants and needs. We then take this questionnaire and put the supplied information to match buyers to the loan packages matching their criteria.
Due to the strengthening of the area’s economy and lower interest rates, more home buyers today are looking to purchase homes. These changes in attitudes of home buyers are a tremendous boost to real estate firms. Residential construction is booming in the city’s Old Town section. We are poised to take advantage of these changes, and expect to become a recognized name and profitable entity in the city’s real estate market. We chose to locate our office in the area of most revenue potential and where we have close connection to dominant real estate firms. Our targeted market area, the Old Town area, shows stability and growth. We have a beautiful office, centered in the Old Town area.
The first quarter home values were up 12.5 percent from the same period in 2001, the Office of Federal Housing Enterprise Oversight reported. The gain reflects an increase from the previous quarter, when residential real estate values saw growth of 12.1 percent.
The home buyers that Claremont Funding will be serving can be divided into two groups:
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
First-Time Homeowners | 15% | 80,000 | 92,000 | 105,800 | 121,670 | 139,921 | 15.00% |
Residential Refinancing | 10% | 150,000 | 165,000 | 181,500 | 199,650 | 219,615 | 10.00% |
Other Home Buyers | 7% | 60,000 | 64,200 | 68,694 | 73,503 | 78,648 | 7.00% |
Total | 10.87% | 290,000 | 321,200 | 355,994 | 394,823 | 438,184 | 10.87% |
We cannot survive waiting for the customer to come to us. Instead, we must get better at focusing on the specific market segments whose needs match our offerings. Focusing on targeted segments is the key to our future. Therefore, we need to focus our marketing message and our services offered. We need to develop our message, communicate it, and make good on it.
Claremont Funding will focus on the mortgage broker needs in the Old Town section of the city and the surrounding areas. Our target customer will be first-time home buyers and existing homeowners who are interested in refinancing.
The following table and chart give a run-down on forecasted sales. We expect sales to build between January through March with the most growth during the months of March through August. We expect sales to drop off from September till the end of the year.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
First-Time Homeowners | $104,672 | $150,000 | $180,000 |
Other Homebuyers | $52,336 | $75,000 | $90,000 |
Residential Refinancing | $107,839 | $140,000 | $175,000 |
Total Sales | $264,847 | $365,000 | $445,000 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
First-Time Homeowners | $0 | $0 | $0 |
Other Homebuyers | $0 | $0 | $0 |
Residential Refinancing | $0 | $0 | $0 |
Subtotal Direct Cost of Sales | $0 | $0 | $0 |
The accompanying table lists important program milestones, with dates and managers in charge, and budgets for each. The milestone schedule indicates our emphasis on planning for implementation.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Lease Office Space | 12/15/2001 | 12/28/2001 | $3,000 | Maureen | Marketing |
Purchase Office Equipment/Computer, etc. | 12/1/2001 | 12/15/2001 | $3,000 | Maureen | Marketing |
Office Utilities | 12/20/2001 | 12/21/2001 | $250 | Joan | Web |
Answering Service | 12/13/2001 | 12/23/2001 | $200 | Joan | Web |
Stationary | 12/1/2001 | 12/10/2001 | $2,000 | Joan | Admin |
Business Software | 12/15/2001 | 12/28/2001 | $2,000 | Joan | Admin |
Advertising | 12/1/2001 | 12/30/2001 | $2,500 | Maureen | Marketing |
Totals | $12,950 |
Claremont Funding’s competitive edge is that both Joan and Maureen are the most visible lecturers to new home owners in the city. Joan has a weekly column in the city’s daily newspaper and Maureen lectures weekly to the city’s numerous neighborhood councils and civic groups. Together, they represent the most recognizable faces in the city on the subject of home ownership and refinancing a home.
Between them, they have a base of 6,000 satisfied customers who continue to make referrals to the brokers.
The city has been growing by 15% annually for the past 10 years. With the population now at 1.3 million, the new construction in the Old Town section of the city is valued at two billion dollars in home sales next year alone. Claremont Funding is positioned well to grab a large share of the mortgage services demanded by the city’s growth in Old Town.
Claremont Funding is a two member mortgage brokerage firm. Both brokers are equal partners in the firm.
The following table shows the personnel plan for Claremont Funding.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Joan Billings | $60,000 | $80,000 | $90,000 |
Maureen Shoe | $60,000 | $80,000 | $90,000 |
Admin Assistants | $46,000 | $60,000 | $80,000 |
Total People | 3 | 4 | 4 |
Total Payroll | $166,000 | $220,000 | $260,000 |
The financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions. The monthly assumptions are included in the appendix. From the beginning, we recognize that collection days are critical, but not a factor we can influence easily. At least we are planning on the problem, and dealing with it. Interest rates, tax rates, and personnel burden are based on conservative assumptions. Some of the more important underlying assumptions are:
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 30.00% | 30.00% | 30.00% |
Other | 0 | 0 | 0 |
The following table and chart will summarize our break-even analysis.
Break-even Analysis | |
Monthly Revenue Break-even | $19,975 |
Assumptions: | |
Average Percent Variable Cost | 0% |
Estimated Monthly Fixed Cost | $19,975 |
Our projected profit and loss is shown on the following table.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $264,847 | $365,000 | $445,000 |
Direct Cost of Sales | $0 | $0 | $0 |
Other Production Expenses | $0 | $0 | $0 |
Total Cost of Sales | $0 | $0 | $0 |
Gross Margin | $264,847 | $365,000 | $445,000 |
Gross Margin % | 100.00% | 100.00% | 100.00% |
Expenses | |||
Payroll | $166,000 | $220,000 | $260,000 |
Sales and Marketing and Other Expenses | $7,800 | $13,000 | $19,000 |
Depreciation | $0 | $0 | $0 |
Leased Equipment | $200 | $0 | $0 |
Utilities | $2,400 | $2,400 | $2,400 |
Insurance | $2,400 | $2,400 | $2,400 |
Rent | $36,000 | $36,000 | $36,000 |
Payroll Taxes | $24,900 | $33,000 | $39,000 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $239,700 | $306,800 | $358,800 |
Profit Before Interest and Taxes | $25,147 | $58,200 | $86,200 |
EBITDA | $25,147 | $58,200 | $86,200 |
Interest Expense | $2,950 | $2,550 | $2,250 |
Taxes Incurred | $6,659 | $16,695 | $25,185 |
Net Profit | $15,538 | $38,955 | $58,765 |
Net Profit/Sales | 5.87% | 10.67% | 13.21% |
Cash flow projections are critical to our success. The annual cash flow figures are included here and the more important detailed monthly numbers are included in the appendix.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $66,212 | $91,250 | $111,250 |
Cash from Receivables | $187,004 | $269,352 | $330,237 |
Subtotal Cash from Operations | $253,216 | $360,602 | $441,487 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $4,500 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $12,000 | $0 | $0 |
Subtotal Cash Received | $269,716 | $360,602 | $441,487 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $166,000 | $220,000 | $260,000 |
Bill Payments | $90,879 | $99,759 | $124,576 |
Subtotal Spent on Operations | $256,879 | $319,759 | $384,576 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $4,500 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $3,000 | $3,000 | $3,000 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $264,379 | $322,759 | $387,576 |
Net Cash Flow | $5,337 | $37,842 | $53,911 |
Cash Balance | $45,287 | $83,129 | $137,040 |
The balance sheet in the following table shows managed but sufficient growth of net worth, and a sufficiently healthy financial position. The monthly estimates are included in the appendix.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $45,287 | $83,129 | $137,040 |
Accounts Receivable | $11,631 | $16,030 | $19,543 |
Other Current Assets | $20,000 | $20,000 | $20,000 |
Total Current Assets | $76,918 | $119,159 | $176,583 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 |
Total Assets | $76,918 | $119,159 | $176,583 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $2,430 | $8,716 | $10,375 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $2,430 | $8,716 | $10,375 |
Long-term Liabilities | $27,000 | $24,000 | $21,000 |
Total Liabilities | $29,430 | $32,716 | $31,375 |
Paid-in Capital | $52,000 | $52,000 | $52,000 |
Retained Earnings | ($20,050) | ($4,512) | $34,443 |
Earnings | $15,538 | $38,955 | $58,765 |
Total Capital | $47,488 | $86,443 | $145,208 |
Total Liabilities and Capital | $76,918 | $119,159 | $176,583 |
Net Worth | $47,488 | $86,443 | $145,208 |
The following table provides important ratios for the industry, as determined by the Standard Industry Classification (SIC) Index, 7389, Business Services.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 37.82% | 21.92% | 8.50% |
Percent of Total Assets | ||||
Accounts Receivable | 15.12% | 13.45% | 11.07% | 20.90% |
Other Current Assets | 26.00% | 16.78% | 11.33% | 55.70% |
Total Current Assets | 100.00% | 100.00% | 100.00% | 81.60% |
Long-term Assets | 0.00% | 0.00% | 0.00% | 18.40% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 3.16% | 7.31% | 5.88% | 48.20% |
Long-term Liabilities | 35.10% | 20.14% | 11.89% | 15.50% |
Total Liabilities | 38.26% | 27.46% | 17.77% | 63.70% |
Net Worth | 61.74% | 72.54% | 82.23% | 36.30% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 100.00% | 100.00% | 100.00% | 0.00% |
Selling, General & Administrative Expenses | 94.18% | 89.41% | 86.91% | 82.60% |
Advertising Expenses | 2.27% | 2.74% | 3.37% | 0.60% |
Profit Before Interest and Taxes | 9.49% | 15.95% | 19.37% | 1.50% |
Main Ratios | ||||
Current | 31.65 | 13.67 | 17.02 | 1.57 |
Quick | 31.65 | 13.67 | 17.02 | 1.13 |
Total Debt to Total Assets | 38.26% | 27.46% | 17.77% | 63.70% |
Pre-tax Return on Net Worth | 46.74% | 64.38% | 57.81% | 1.90% |
Pre-tax Return on Assets | 28.86% | 46.70% | 47.54% | 5.20% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 5.87% | 10.67% | 13.21% | n.a |
Return on Equity | 32.72% | 45.06% | 40.47% | n.a |
Activity Ratios | ||||
Accounts Receivable Turnover | 17.08 | 17.08 | 17.08 | n.a |
Collection Days | 59 | 18 | 19 | n.a |
Accounts Payable Turnover | 34.28 | 12.17 | 12.17 | n.a |
Payment Days | 31 | 19 | 28 | n.a |
Total Asset Turnover | 3.44 | 3.06 | 2.52 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.62 | 0.38 | 0.22 | n.a |
Current Liab. to Liab. | 0.08 | 0.27 | 0.33 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $74,488 | $110,443 | $166,208 | n.a |
Interest Coverage | 8.52 | 22.82 | 38.31 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.29 | 0.33 | 0.40 | n.a |
Current Debt/Total Assets | 3% | 7% | 6% | n.a |
Acid Test | 26.86 | 11.83 | 15.14 | n.a |
Sales/Net Worth | 5.58 | 4.22 | 3.06 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
First-Time Homeowners | 0% | $2,100 | $2,200 | $5,020 | $8,000 | $10,500 | $15,000 | $18,000 | $22,000 | $10,022 | $5,210 | $3,820 | $2,800 |
Other Homebuyers | 0% | $1,050 | $1,100 | $2,510 | $4,000 | $5,250 | $7,500 | $9,000 | $11,000 | $5,011 | $2,605 | $1,910 | $1,400 |
Residential Refinancing | 0% | $3,000 | $3,000 | $6,640 | $10,000 | $11,000 | $14,000 | $17,000 | $20,000 | $13,000 | $4,322 | $3,222 | $2,655 |
Total Sales | $6,150 | $6,300 | $14,170 | $22,000 | $26,750 | $36,500 | $44,000 | $53,000 | $28,033 | $12,137 | $8,952 | $6,855 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
First-Time Homeowners | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Homebuyers | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Residential Refinancing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Joan Billings | 0% | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 |
Maureen Shoe | 0% | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 |
Admin Assistants | 0% | $3,000 | $3,000 | $3,000 | $3,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $3,000 | $3,000 | $3,000 |
Total People | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | |
Total Payroll | $13,000 | $13,000 | $13,000 | $13,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $13,000 | $13,000 | $13,000 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $6,150 | $6,300 | $14,170 | $22,000 | $26,750 | $36,500 | $44,000 | $53,000 | $28,033 | $12,137 | $8,952 | $6,855 | |
Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Production Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Gross Margin | $6,150 | $6,300 | $14,170 | $22,000 | $26,750 | $36,500 | $44,000 | $53,000 | $28,033 | $12,137 | $8,952 | $6,855 | |
Gross Margin % | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |
Expenses | |||||||||||||
Payroll | $13,000 | $13,000 | $13,000 | $13,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $13,000 | $13,000 | $13,000 | |
Sales and Marketing and Other Expenses | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Leased Equipment | $200 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Utilities | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Insurance | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Rent | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
Payroll Taxes | 15% | $1,950 | $1,950 | $1,950 | $1,950 | $2,250 | $2,250 | $2,250 | $2,250 | $2,250 | $1,950 | $1,950 | $1,950 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $19,200 | $19,000 | $19,000 | $19,000 | $21,300 | $21,300 | $21,300 | $21,300 | $21,300 | $19,000 | $19,000 | $19,000 | |
Profit Before Interest and Taxes | ($13,050) | ($12,700) | ($4,830) | $3,000 | $5,450 | $15,200 | $22,700 | $31,700 | $6,733 | ($6,863) | ($10,048) | ($12,145) | |
EBITDA | ($13,050) | ($12,700) | ($4,830) | $3,000 | $5,450 | $15,200 | $22,700 | $31,700 | $6,733 | ($6,863) | ($10,048) | ($12,145) | |
Interest Expense | $248 | $246 | $244 | $279 | $277 | $275 | $235 | $233 | $231 | $229 | $227 | $225 | |
Taxes Incurred | ($3,989) | ($3,884) | ($1,522) | $816 | $1,552 | $4,478 | $6,739 | $9,440 | $1,951 | ($2,128) | ($3,083) | ($3,711) | |
Net Profit | ($9,309) | ($9,062) | ($3,552) | $1,905 | $3,621 | $10,448 | $15,725 | $22,027 | $4,551 | ($4,965) | ($7,193) | ($8,659) | |
Net Profit/Sales | -151.36% | -143.84% | -25.06% | 8.66% | 13.54% | 28.62% | 35.74% | 41.56% | 16.24% | -40.90% | -80.35% | -126.32% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $1,538 | $1,575 | $3,543 | $5,500 | $6,688 | $9,125 | $11,000 | $13,250 | $7,008 | $3,034 | $2,238 | $1,714 | |
Cash from Receivables | $0 | $154 | $4,616 | $4,922 | $10,823 | $16,619 | $20,306 | $27,563 | $33,225 | $39,126 | $20,627 | $9,023 | |
Subtotal Cash from Operations | $1,538 | $1,729 | $8,159 | $10,422 | $17,511 | $25,744 | $31,306 | $40,813 | $40,233 | $42,160 | $22,865 | $10,737 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $4,500 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $12,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $1,538 | $1,729 | $20,159 | $14,922 | $17,511 | $25,744 | $31,306 | $40,813 | $40,233 | $42,160 | $22,865 | $10,737 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $13,000 | $13,000 | $13,000 | $13,000 | $15,000 | $15,000 | $15,000 | $15,000 | $15,000 | $13,000 | $13,000 | $13,000 | |
Bill Payments | $10,082 | $2,455 | $2,441 | $4,801 | $7,130 | $8,226 | $11,127 | $13,365 | $15,724 | $8,336 | $4,070 | $3,124 | |
Subtotal Spent on Operations | $23,082 | $15,455 | $15,441 | $17,801 | $22,130 | $23,226 | $26,127 | $28,365 | $30,724 | $21,336 | $17,070 | $16,124 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $4,500 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | $250 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $23,332 | $15,705 | $15,691 | $18,051 | $22,380 | $23,476 | $30,877 | $28,615 | $30,974 | $21,586 | $17,320 | $16,374 | |
Net Cash Flow | ($21,794) | ($13,977) | $4,468 | ($3,129) | ($4,869) | $2,267 | $430 | $12,198 | $9,260 | $20,574 | $5,546 | ($5,637) | |
Cash Balance | $18,156 | $4,179 | $8,647 | $5,518 | $649 | $2,916 | $3,346 | $15,544 | $24,803 | $45,378 | $50,923 | $45,287 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $39,950 | $18,156 | $4,179 | $8,647 | $5,518 | $649 | $2,916 | $3,346 | $15,544 | $24,803 | $45,378 | $50,923 | $45,287 |
Accounts Receivable | $0 | $4,613 | $9,184 | $15,195 | $26,773 | $36,013 | $46,769 | $59,463 | $71,650 | $59,450 | $29,427 | $15,513 | $11,631 |
Other Current Assets | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 |
Total Current Assets | $59,950 | $42,768 | $33,363 | $43,842 | $52,291 | $56,661 | $69,685 | $82,808 | $107,194 | $104,253 | $94,804 | $86,437 | $76,918 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Assets | $59,950 | $42,768 | $33,363 | $43,842 | $52,291 | $56,661 | $69,685 | $82,808 | $107,194 | $104,253 | $94,804 | $86,437 | $76,918 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $10,000 | $2,377 | $2,283 | $4,564 | $6,859 | $7,858 | $10,684 | $12,832 | $15,441 | $8,199 | $3,965 | $3,040 | $2,430 |
Current Borrowing | $0 | $0 | $0 | $0 | $4,500 | $4,500 | $4,500 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $10,000 | $2,377 | $2,283 | $4,564 | $11,359 | $12,358 | $15,184 | $12,832 | $15,441 | $8,199 | $3,965 | $3,040 | $2,430 |
Long-term Liabilities | $30,000 | $29,750 | $29,500 | $29,250 | $29,000 | $28,750 | $28,500 | $28,250 | $28,000 | $27,750 | $27,500 | $27,250 | $27,000 |
Total Liabilities | $40,000 | $32,127 | $31,783 | $33,814 | $40,359 | $41,108 | $43,684 | $41,082 | $43,441 | $35,949 | $31,465 | $30,290 | $29,430 |
Paid-in Capital | $40,000 | $40,000 | $40,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 | $52,000 |
Retained Earnings | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) | ($20,050) |
Earnings | $0 | ($9,309) | ($18,371) | ($21,922) | ($20,018) | ($16,397) | ($5,949) | $9,776 | $31,803 | $36,354 | $31,389 | $24,197 | $15,538 |
Total Capital | $19,950 | $10,641 | $1,579 | $10,028 | $11,932 | $15,553 | $26,001 | $41,726 | $63,753 | $68,304 | $63,339 | $56,147 | $47,488 |
Total Liabilities and Capital | $59,950 | $42,768 | $33,363 | $43,842 | $52,291 | $56,661 | $69,685 | $82,808 | $107,194 | $104,253 | $94,804 | $86,437 | $76,918 |
Net Worth | $19,950 | $10,641 | $1,579 | $10,028 | $11,932 | $15,553 | $26,001 | $41,726 | $63,753 | $68,304 | $63,339 | $56,147 | $47,488 |
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Company overview.
Integrity Home Loans, based in Taylorsville, UT, is a forward-thinking mortgage brokerage firm dedicated to guiding our clients through the home buying process with transparency and expertise. Our company’s foundation is built on providing personalized mortgage solutions that cater to the diverse needs of our community, from first-time homebuyers to seasoned real estate investors. By leveraging the latest in financial technologies and maintaining strong relationships with a wide array of lenders, we ensure our clients receive competitive rates and terms tailored to their unique situations. Our goal is to make homeownership accessible and affordable to individuals and families in Taylorsville and the surrounding areas, fostering long-term relationships and contributing to the growth and prosperity of our community.
Our success is driven by our commitment to client satisfaction, comprehensive industry knowledge, and the strategic use of technology to streamline the mortgage process. We’ve already made significant strides in establishing a robust presence in the Taylorsville market, underpinned by our team’s extensive experience and our ability to adapt to the ever-changing financial landscape. Our accomplishments to date include building a diverse portfolio of lending options, developing a user-friendly online platform for easier client interactions, and forming strategic partnerships with local real estate professionals, positioning us as a leading mortgage brokerage in our community.
The mortgage brokerage industry is highly competitive and influenced by economic factors, interest rates, and housing market trends. In recent years, there has been a significant shift towards digitalization, with more consumers starting their mortgage search online. This trend underscores the importance of mortgage brokers adopting technology to enhance their service offerings and improve operational efficiency. Additionally, regulatory changes continue to shape the industry, requiring brokers to stay informed and compliant. Despite these challenges, the industry presents substantial opportunities for growth, particularly for brokers who can offer tailored, customer-centric services and leverage technology to differentiate themselves from competitors.
Our primary target market comprises local residents of Taylorsville, UT, including first-time homebuyers, existing homeowners, and real estate investors. We recognize the unique needs of young professionals and families seeking affordable housing options within a familiar community. Our services are designed to provide them with the financial solutions and guidance needed to make homeownership achievable. For homeowners considering refinancing, we offer expertise in the latest mortgage options to help them lower their payments or tap into home equity. Real estate investors in Taylorsville will find value in our competitive rates and tailored investment property loans, supporting their goals of portfolio expansion and financial success.
Top competitors in the Taylorsville area include both national chains and local mortgage brokers. However, Integrity Home Loans distinguishes itself through a client-centric approach, leveraging technology to simplify the mortgage process and offering personalized, transparent service. Our competitive advantages lie in our deep understanding of the local market, the relationships we’ve built within the community, and our commitment to providing a seamless, supportive experience for every client.
Our marketing strategy emphasizes a blend of online and traditional methods to reach potential clients in Taylorsville and beyond. We will leverage social media, SEO, and email marketing to connect with our audience, sharing valuable content and engaging directly to build trust and credibility. Pay-per-click advertising will target those actively seeking mortgage services, while community engagement through events and partnerships with local real estate agencies will strengthen our local presence. Traditional print ads and direct mail campaigns will complement our digital efforts, ensuring broad exposure. This multi-faceted approach aims to not only attract new clients but also establish Integrity Home Loans as a trusted, accessible mortgage brokerage in our community.
Key operational processes include streamlining loan application and approval procedures, maintaining strong lender relationships, and continuously enhancing our technology platform for improved client service. Our milestones are focused on expanding our client base, increasing loan volume, and continuously improving client satisfaction. Achieving these milestones will involve regular training for our team, adopting new technologies, and refining our marketing strategies to adapt to changing market conditions and client needs.
Our management team comprises experienced professionals with a deep understanding of the mortgage industry and a shared vision for making homeownership accessible to more people in Taylorsville. Their expertise spans financial analysis, customer service, technology implementation, and strategic partnerships, ensuring Integrity Home Loans is well-positioned for growth and success.
To achieve our growth goals, Integrity Home Loans requires funding to expand our operations, enhance our technology platform, and increase our marketing efforts. This investment will enable us to serve more clients, offer more competitive rates, and continue building our reputation as a leading provider of mortgage solutions in Taylorsville and the surrounding areas.
Below is an overview of our expected financial performance over the next five years:
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | |
---|---|---|---|---|---|
Revenues | $2,782,475 | $3,012,948 | $3,262,511 | $3,532,745 | $3,825,363 |
Direct Expenses | $1,283,822 | $1,349,227 | $1,417,964 | $1,490,202 | $1,566,121 |
Gross Profit (%) | 53.9% | 55.2% | 56.5% | 57.8% | 59.1% |
Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 |
Depreciation | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 |
Amortization | $0 | $0 | $0 | $0 | $0 |
Interest Expense | $28,000 | $28,000 | $28,000 | $28,000 | $28,000 |
Income Tax Expense | $473,748 | $530,491 | $592,718 | $660,922 | $735,639 |
Integrity Home Loans is a new Mortgage Brokerage serving customers in Taylorsville, UT. We are proud to introduce ourselves as a local mortgage brokerage business dedicated to filling the gap in high-quality mortgage brokerage services within the area. Understanding the unique financial needs of our community, we are committed to providing personalized and efficient mortgage solutions to our clients.
At Integrity Home Loans, our services are designed to simplify the home buying process for our clients. We specialize in loan sourcing and comparison, offering a broad range of options to ensure our clients find the best rates and terms to suit their needs. Our team provides comprehensive mortgage application assistance, guiding our clients every step of the way. We also engage in negotiations with lenders on behalf of our clients to secure favorable loan conditions. Recognizing the importance of long-term financial health, we offer financial advice and planning services tailored to each client’s unique situation. Additionally, we coordinate loan settlement, ensuring a smooth and hassle-free closing.
Located in Taylorsville, UT, Integrity Home Loans is strategically positioned to serve the residents of Taylorsville and the surrounding areas. Our local presence enables us to maintain a deep understanding of the market dynamics and community needs, allowing us to offer services that are truly beneficial to our clients.
Our success is built on a solid foundation. The founder of Integrity Home Loans brings a wealth of experience from previously running a successful mortgage brokerage business. This experience, combined with our superior loan sourcing and comparison capabilities and an expanded range of mortgage brokerage services, positions us uniquely in the market. We are confident in our ability to deliver exceptional service and value to our clients.
Since our inception on January 3, 2024, Integrity Home Loans has achieved significant milestones. We have successfully developed our company name, designed our logo, and secured a prime location for our operations. As a S Corporation, we are committed to upholding the highest standards of integrity and professionalism in all our dealings. Our accomplishments to date reflect our dedication to establishing a trusted and respected mortgage brokerage in Taylorsville.
The Mortgage Brokerage industry in the United States is currently a significant player in the overall real estate market. With a market size of approximately $11 billion, the industry continues to thrive due to the increasing demand for mortgage services among homebuyers and refinancers. This sizeable market presents ample opportunities for new entrants like Integrity Home Loans to establish a foothold and capture a share of the market.
Furthermore, the Mortgage Brokerage industry is expected to experience steady growth in the coming years. Market analysts project a compound annual growth rate of 3.5% over the next five years, driven by factors such as low interest rates, rising home prices, and a growing number of millennials entering the housing market. This optimistic growth outlook indicates a favorable environment for Integrity Home Loans to expand its operations and attract more customers in Taylorsville, UT.
Recent trends in the Mortgage Brokerage industry, such as the increasing use of technology for streamlined processes and enhanced customer experience, bode well for Integrity Home Loans. By leveraging digital tools and data analytics, the company can differentiate itself from competitors and offer innovative solutions to its clients. Additionally, the industry’s shift towards personalized and customer-centric services aligns with Integrity Home Loans’ commitment to providing tailored mortgage solutions to meet the unique needs of homebuyers in Taylorsville, UT.
Below is a description of our target customers and their core needs.
Integrity Home Loans will primarily target local residents of Taylorsville, UT, who are in the market to purchase their first home. This segment includes young professionals and families looking for affordable housing options in a community they are already familiar with. Our services will tailor specifically to their needs, providing them with the guidance and financial solutions to make homeownership a reality.
We will also focus on existing homeowners interested in refinancing their current mortgage. With the ever-changing financial landscape, these customers seek to lower their monthly payments, tap into their home equity for major expenses, or adjust their loan terms. Our expertise in the latest mortgage options and refinancing strategies will cater to their specific financial situations.
Additionally, Integrity Home Loans will target real estate investors looking to purchase properties in Taylorsville, UT. This segment is keen on expanding their portfolios with residential properties, including single-family homes and multi-unit buildings. We will provide them with competitive mortgage rates and investment property loans that cater to their unique needs, ensuring their ventures are financially viable and successful.
Integrity Home Loans understands that customers seek transparency and trust when navigating the complex process of securing a mortgage. Clients expect high-quality loan sourcing and comparison, ensuring they can make informed decisions tailored to their unique financial situations. This brokerage dedicates itself to providing clear, comprehensive information on various loan options, enabling clients to find the best rates and terms for their needs.
Moreover, Integrity Home Loans recognizes the importance of personalized service. Each client has distinct financial goals and circumstances, which means they require customized advice and solutions. The firm’s commitment to understanding individual needs ensures that clients receive guidance that aligns with their long-term financial objectives, fostering a sense of confidence and security throughout the loan acquisition process.
Accessibility and responsiveness are also key customer needs that Integrity Home Loans addresses. In today’s fast-paced world, clients expect prompt answers to their inquiries and efficient processing of their loan applications. By prioritizing customer service and leveraging technology, Integrity Home Loans ensures that clients can easily access the information and support they need, when they need it, making the path to homeownership smoother and more enjoyable.
Direct competitors.
Integrity Home Loans’s competitors include the following companies:
Marylee Gilchrist – Cardinal Financial Marylee Gilchrist, operating under Cardinal Financial, offers a broad range of mortgage products including conventional loans, FHA loans, VA loans, and refinancing options. Pricing varies based on the loan type, term, and borrower’s credit history, aiming to offer competitive rates within the industry. Cardinal Financial generates revenue by originating loans, with a focus on personalized service to ensure customer satisfaction. The company operates primarily online with a focus on the Taylorsville, UT area, though it serves clients nationwide. It targets a wide customer segment, from first-time homebuyers to those looking to refinance their existing mortgages. Key strengths include a user-friendly online platform and a wide array of loan products. However, its reliance on digital interactions might deter customers preferring face-to-face service.
Jennyfer Callahan – Kairos Mortgage Jennyfer Callahan, through Kairos Mortgage, specializes in providing customized mortgage solutions including jumbo loans, conventional loans, FHA, VA, and USDA loans. The company prides itself on competitive pricing and personalized loan options tailored to each client’s needs. Kairos Mortgage’s revenue comes from loan origination and processing fees. Kairos Mortgage serves customers in and around the Taylorsville, UT area, with a focus on offering a highly personalized service experience. The customer segment includes high-income individuals seeking jumbo loans, veterans, and first-time buyers. A key strength is their personalized customer service and expertise in a wide range of loan products. A potential weakness is the niche focus, which might limit their appeal to a broader market.
U.S. Bank Branch U.S. Bank Branch offers a comprehensive suite of mortgage products, including fixed-rate and adjustable-rate mortgages, FHA and VA loans, jumbo loans, and refinancing options. Their pricing is competitive, aiming to attract a broad customer base. As a large banking institution, U.S. Bank generates significant revenue from its mortgage lending operations, complemented by other financial services. With multiple locations, including branches in the Taylorsville, UT area, U.S. Bank serves a diverse geography and a wide range of customer segments, from first-time homebuyers to experienced real estate investors. Key strengths include a widespread physical presence and the ability to offer a full range of financial services beyond mortgages. A weakness could be the potentially impersonal service experience due to its size and scope, which might not match the tailored approach of smaller brokerages.
At Integrity Home Loans, we take pride in our ability to offer superior loan sourcing and comparison services compared to our competitors. Our dedicated team employs a meticulous process to evaluate a wide range of loan options, ensuring that our clients receive the best possible terms and rates to meet their unique needs. This comprehensive approach allows us to tailor financing solutions that are not only competitive but also perfectly aligned with our clients’ financial objectives. By leveraging our extensive network of lenders, we can access exclusive deals and negotiate more favorable terms, providing our clients with significant advantages in the mortgage market.
Moreover, our suite of mortgage brokerage services sets us apart in the industry. We understand that navigating the mortgage process can be daunting, which is why we offer end-to-end support, from initial consultation to closing. Our expertise extends beyond traditional mortgage products, encompassing a broad spectrum of financing solutions including refinancing options, investment property loans, and more. This versatility ensures that we can cater to a diverse range of client needs, making home ownership more accessible and affordable. Our commitment to transparency, integrity, and personalized service further solidifies our position as a trusted partner for homebuyers and investors alike.
Our marketing plan, included below, details our products/services, pricing and promotions plan.
Integrity Home Loans offers a comprehensive suite of services designed to meet the varied needs of homebuyers and homeowners looking to refinance. At the heart of their offerings is Loan Sourcing and Comparison, a critical service for anyone in the market for a new home loan or refinancing options. This service allows customers to access a wide array of loan options, ensuring they find the best rates and terms available. The average selling price for this service reflects the value it provides, typically ranging from $500 to $1,000, depending on the complexity of the customer’s needs and the scope of the search.
Another pivotal service is Mortgage Application Assistance, where clients receive help in preparing and submitting their mortgage applications. This service is invaluable for navigating the often-complicated mortgage landscape, ensuring that applications are filled out correctly and submitted promptly. Customers can expect to pay between $300 and $600 for this service, a price that reflects the personalized support and expertise provided.
Negotiation with Lenders stands out as a critical service, especially for those seeking the best possible terms for their loans. Integrity Home Loans acts as an advocate for its clients, negotiating interest rates, repayment terms, and other critical loan aspects. This service is priced based on the loan amount and complexity of the negotiation, usually costing around 0.5% to 1% of the loan amount. This fee is often offset by the savings achieved through better loan terms.
Financial Advice and Planning is another cornerstone of Integrity Home Loans’s offerings, providing clients with strategic advice on managing their finances, both in the context of securing a mortgage and in their broader financial life. This service, which can cost between $200 and $500, is tailored to each client’s unique situation, offering personalized advice that can save significant money over time.
Finally, Loan Settlement Coordination ensures that the closing process goes smoothly, coordinating between lenders, real estate agents, and other parties involved in the loan settlement. This service, essential for a hassle-free closing, typically costs between $250 and $500. It covers the management of paperwork and deadlines, ensuring that the settlement process is concluded efficiently and without unnecessary stress for the client.
In summary, Integrity Home Loans provides a valuable suite of services aimed at simplifying the mortgage process. Their pricing reflects the personalized, expert assistance they offer, helping clients navigate the complexities of mortgage sourcing, application, negotiation, and settlement with confidence.
At Integrity Home Loans, we understand the importance of a comprehensive promotional strategy to attract customers and establish our presence in the mortgage brokerage industry. To achieve this, we will deploy a variety of promotional methods, focusing heavily on online marketing while incorporating traditional methods to ensure wide-reaching exposure and engagement with potential clients.
Online marketing stands at the forefront of our promotional efforts. We will leverage social media platforms such as Facebook, Instagram, and LinkedIn to connect with our audience, share valuable content, and engage with potential and current clients. These platforms offer a direct line of communication and enable us to build trust and credibility by responding to inquiries, sharing testimonials, and highlighting our unique value propositions. Additionally, we will utilize search engine optimization (SEO) strategies to increase our visibility on search engines like Google. By optimizing our website content with relevant keywords, we expect to rank higher in search results, making it easier for potential clients to find us when searching for mortgage brokerage services in Taylorsville, UT, and surrounding areas.
Email marketing will also play a critical role in our promotional strategy. By developing targeted email campaigns, we will keep our subscribers informed about the latest mortgage rates, industry news, and personalized offers. This approach not only helps in nurturing leads but also in keeping our brand top-of-mind among potential clients.
Furthermore, we will invest in pay-per-click (PPC) advertising to reach potential clients actively searching for mortgage services. PPC campaigns will allow us to display ads to a highly targeted audience, increasing the likelihood of attracting qualified leads to our website.
Aside from online marketing, we will engage in community events and partnerships with local real estate agencies in Taylorsville, UT. Participating in local events and hosting seminars on home buying and mortgage processes will help us establish a strong local presence and build personal relationships with potential clients. Collaborating with real estate agencies will create a referral network, thereby expanding our reach and credibility within the community.
Lastly, we will utilize traditional marketing methods such as print advertisements in local newspapers and magazines, along with direct mail campaigns, to reach a broader audience. These methods complement our digital efforts by targeting potential clients who prefer more traditional forms of communication.
In conclusion, Integrity Home Loans will implement a multi-faceted promotional strategy that combines the power of online marketing with traditional marketing methods and community engagement. By diversifying our approach, we expect to effectively reach and attract clients in Taylorsville, UT, and position ourselves as a trusted and reliable mortgage brokerage.
Our Operations Plan details:
To ensure the success of Integrity Home Loans, there are several key day-to-day operational processes that we will perform.
Integrity Home Loans expects to complete the following milestones in the coming months in order to ensure its success:
Our management team has the experience and expertise to successfully execute on our business plan.
Gabriel lopez, president.
Gabriel Lopez, President , brings a wealth of experience and proven leadership to Integrity Home Loans. With a solid track record in the mortgage industry, Gabriel has previously led a mortgage brokerage business to success, demonstrating his ability to navigate the complexities of the mortgage market. His deep understanding of both the operational and customer service aspects of the business makes him uniquely qualified to guide Integrity Home Loans toward achieving its goals. Gabriel’s leadership is characterized by a strategic approach to business planning and development, ensuring that the company not only meets but exceeds the expectations of its clients and stakeholders.
Funding requirements/use of funds.
To accomplish our growth goals, Integrity Home Loans needs $280,000 in funding. Key uses of this funding will be as follows:
Capital Investments | |
---|---|
Location Buildout | $50,000 |
Furniture | $20,000 |
Equipment, Machines, and Computers | $30,000 |
Non Capital Investments | |
---|---|
Working Capital | $50,000 |
Initial Rent/Lease | $10,000 |
Staff Salaries for the First 3 Months | $90,000 |
Initial Marketing and Advertising | $20,000 |
Supplies | $5,000 |
Insurance | $5,000 |
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
Revenues | ||||||
Revenues | $2,782,475 | $3,012,948 | $3,262,511 | $3,532,745 | $3,825,363 | |
Direct Costs | ||||||
Direct Costs | $1,283,822 | $1,349,227 | $1,417,964 | $1,490,202 | $1,566,121 | |
Salaries | $72,814 | $75,023 | $77,299 | $79,644 | $82,060 | |
Marketing Expenses | $6,067 | $6,251 | $6,441 | $6,637 | $6,838 | |
Rent/Utility Expenses | $6,067 | $6,251 | $6,441 | $6,637 | $6,838 | |
Other Expenses | $12,135 | $12,503 | $12,883 | $13,274 | $13,676 | |
Depreciation | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | |
Amortization | $0 | $0 | $0 | $0 | $0 | |
Interest Expense | $28,000 | $28,000 | $28,000 | $28,000 | $28,000 | |
Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Taxable Income | $1,353,567 | $1,515,690 | $1,693,481 | $1,888,350 | $2,101,827 | |
Income Tax Expense | $473,748 | $530,491 | $592,718 | $660,922 | $735,639 | |
Net Profit Margin (%) | 31.6% | 32.7% | 33.7% | 34.7% | 35.7% |
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
Cash | $958,149 | $1,949,365 | $3,054,797 | $4,291,845 | $5,380,243 | |
Other Current Assets | $238,837 | $258,620 | $280,042 | $294,395 | $318,780 | |
Intangible Assets | $0 | $0 | $0 | $0 | $0 | |
Acc Amortization | $0 | $0 | $0 | $0 | $0 | |
Fixed Assets | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | |
Accum Depreciation | $20,000 | $40,000 | $60,000 | $80,000 | $100,000 | |
Preliminary Exp | $0 | $0 | $0 | $0 | $0 | |
Current Liabilities | $117,168 | $122,968 | $129,059 | $133,032 | $139,628 | |
Debt outstanding | $280,000 | $280,000 | $280,000 | $280,000 | $0 | |
Share Capital | $0 | $0 | $0 | $0 | $0 | |
Retained earnings | $879,818 | $1,865,017 | $2,965,780 | $4,193,207 | $5,559,395 | |
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
Net Income (Loss) | $879,818 | $985,198 | $1,100,762 | $1,227,427 | $1,366,187 | |
Change in Working Capital | ($121,669) | ($13,982) | ($15,330) | ($10,380) | ($17,789) | |
Plus Depreciation | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | |
Plus Amortization | $0 | $0 | $0 | $0 | $0 | |
Fixed Assets | ($100,000) | $0 | $0 | $0 | $0 | |
Intangible Assets | $0 | $0 | $0 | $0 | $0 | |
Cash from Equity | $0 | $0 | $0 | $0 | $0 | |
Cash from Debt financing | $280,000 | $0 | $0 | $0 | ($280,000) | |
Cash at Beginning of Period | $0 | $958,149 | $1,949,365 | $3,054,797 | $4,291,845 | |
A mortgage brokerage business plan is a document that outlines the strategies you have developed to start and/or grow your mortgage brokerage business. Among other things, it details information about your industry, customers and competitors to help ensure your company is positioned properly to succeed. Your mortgage brokerage business plan also assesses how much funding you will need to grow your business and proves, via your financial forecasts, why the business is viable.
A business plan is required if you are seeking funding for your mortgage brokerage business. Investors and lenders will review your plan to ensure it meets their criteria before providing you with capital. In addition, a mortgage brokerage business plan helps you and your team stay focused. It documents the strategies you must follow and gives you financial projections you should strive to achieve and against which you can judge your performance.
Download our Mortgage Brokerage Business Plan PDF to help guide you as you create your business plan for your own mortgage brokerage business.
It’s a never-ending battle to come up with new ways to improve the company. Corporate think tanks conduct extensive market research to assist executives in making important decisions. Report documents are always on people’s desks, urging them to make changes. With all of the facts and figures in hand, planning begins to ensure that the present and future situations are under control. Consider the mortgage broker business, which is always looking for new ways to increase profits, gain more partners, improve their small marketing strategies , and even expand to serve more people. Also, make sure that planning will never stop in your industry.
1. mortgage broker business plan template.
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A sample business plan contains a list of guidelines and processes that assist businesses in achieving their goals. Some business plans are in place for years, while others are only in place for a few months. Mortgage business plans follow the same path but with more specifics. The strategy focuses on methods and systems that make mortgage programs, projects, and proposals relevant to the target market—homebuyers and property investors . The primary goal of most mortgage business plans is to increase sales while reducing losses.
Being a mortgage broker entails being in the thick of the transaction. You have clients or customers on the one hand and lending companies on the other. The lending agencies could be a commercial real estate company or a bank that makes bank loans. Additionally, as a broker, you serve as a convenient intermediary. Therefore, begin by presenting your business plan to agencies by following the simple steps outlined below.
When you know who you’re dealing with, you’ll be able to make property investments and get financial assistance. You can change your plans depending on the nature of the institution, whether it’s a local bank, a rental property agency, or a real estate company. Make sure you understand their process so you can properly align your comprehensive proposals .
Any business suffers from chaotic and incomprehensible branding. If your customers and viewers are unclear about the purpose of your advertisement or the contents of your website, you will lose credibility and, unfortunately, audiences. So, plan and develop a well-organized and professional brand for your company. Before your launch dates, choose your color palettes and create your logo. Then, using the selected color patterns as a guide, create alternate outputs. When creating flyers or leaflets, make sure that the advertising materials have a specific direction.
Each marketing strategy and advertising campaign serves as the super-strong thread that connects the business plan. These strategies—approaches that mortgage businesses must adhere to are the business’s driving force. Through these concepts, companies gain a clear understanding of the path forward for the enterprise’s development. However, keep in mind that the marketing and advertising strategies chosen for the business plan should align with the company’s vision.
An impossible plan isn’t worth making, and it’s certainly not worth sharing. You may have objectives, but keep both feet on the ground so that the implementation phase is the next priority. You can either run a feasibility test or give it a dose of common sense. Your ideas must produce results, and the best course of action is to make them feasible. Whether it’s a strategic plan or an action plan , your company deserves to know where it’s going. Don’t forget to set aside time to plan for improvement and betterment, as this will benefit everyone.
During the recession, many brokers were forced to close their doors. Many people declared mortgage brokers to be a dying breed. Today, however, reality contradicts them. Brokers are becoming increasingly important in the housing market because they bridge the consumer and the appropriate lending institution gap.
When shopping for a loan, you’ll come across a dozen different types of mortgage fees — and sometimes even more. Most of them, however, can be negotiated by asking for a lower price or a waiver.
For three years, a broker must retain copies of all documents relating to transactions, trust accounts, and other documents executed or obtained in connection with any transaction requiring a broker’s license.
A mortgage company requires a foolproof and efficient business plan in addition to hard work and dedication. Businesses must set goals, objectives, and standards to ensure proper management sample. In some ways, business plans serve as a blueprint for how to run a company. Companies should use this information to create a business plan that fits their needs and proposed end goals. Have you gained any insight from the advice given above? So, what exactly are you waiting for? Now is the time to get the templates !
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Complete guide to loan officer business planning.
At APM, we set aside time every year for strategic planning on how we’re going to succeed in the coming year, and we encourage all mortgage loan officers to do the same. The more intentional we are with what we want to accomplish, the more likely we are to achieve our goals.
In a rapidly changing industry, you need to outline your business objectives, set strategic goals, and review and reaffirm these plans every 90 days. That’s why we encourage our loan originators to set a 90-day plan each quarter that helps them achieve their long-term goals.
At APM, we’ve built a six-step process for mortgage loan officers to craft an effective business plan:
Focusing on these six areas ensures that you’re covering every aspect of your work and personal life in your strategic planning, maximizing your chances for long-term success.
We’ve created a free guide that makes loan officer business planning simple and will help you evaluate your performance and set goals with action items to help achieve them.
Click here to download the APM Guide to Loan Officer Business Planning.
Breaking your goal down into strategies with action items will help you achieve your overall goal. Here’s how to look at it:
Before we dive into the specifics of loan officer business planning, it’s time to do an honest review of your performance over the past year. So consider what went well and what you need to tweak moving forward.
For more help, click here to download our comprehensive loan officer business planning guide .
First you’ll decide on your goals for each of the areas below for the new year. Then you’ll set one to three strategies for each of those goals every 90 days and identify the action items that will help you implement your strategies.
Strategies are simply things to keep doing, things to change, and things to start. By working your strategies with this discipline, it won’t feel so daunting to come up with something new every 90 days. Possibly it’s a small adjustment to an already-great strategy that will make all the difference.
Every 90 days, you’ll adjust as needed and plan your next 90 days. This allows you to make large goals but break down the things you need to do to achieve them without getting overwhelmed. It also builds in a specific time for you to review and reset course, which is important in the current market.
Here are the six areas to look at.
How will you grow your relationship with strategic partners in the new year? It’s all about adding value, and here are a few of the strategies we recommend:
When you’re looking for new clients, prospecting and marketing strategies are key to sourcing, transacting, and earning new business. Here are some ideas we recommend to our mortgage loan originators at APM:
So much of what makes you successful as a loan officer isn’t the type of mortgage you offer. Instead, it’s the experience you provide the people who come to you for help with their loan options. At APM, we call this “Creating Experiences That Matter.”
That might translate into creating raving fans and referral partners for your business. Setting goals about the customer experience ensures that you never forget how important that is.
Here are some ways you could focus on your customer experience in the coming year:
There are a number of ways to improve your customers’ experience and make their transactions meaningful. The important thing is to make sure you’re tailoring the experience to what your specific customers want, and that won’t look the same for every loan officer.
Loan officers can’t afford to take their eyes off professional development and mastering their craft. There are always additional things to learn, whether it’s new types of loans, mortgage officer regulatory guidelines, or a new sales technique.
In today’s high interest rate environment, your expertise is what will win you business. Here are a few action items you’ll want to have on your radar:
Keeping the clients you already have is vital to loan officer business planning. Here are some action items in this area:
It’s hard to do excellent work as a mortgage loan officer if you’re not also thriving in your personal life. That’s why one of our areas for loan officer business planning focuses on personal development. That includes setting strategic goals around several main areas of your life, including:
There are no right or wrong answers when it comes to your personal goals. What matters is that you take the time to be intentional about what’s working and what’s not and how you can make positive changes in the coming year.
By focusing on these areas of loan officer business planning and business strategies, you’ll find that you accomplish more than you ever have before and feel better while doing it. For more help with your 2024 loan officer business plan, make sure to download our 2024 business planning book here !
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The established and most talked about brands you notice while scrolling down your Facebook timeline or while browsing the latest Vogue magazine all started from the bottom. Through different forms of plans, especially business plans, these companies became household names. With that, businesses with similar visionary goals have to utilize various tools to reach their highest potential. Luckily, this method applies to all sorts of companies privately owned, commercial, or even small business types. In particular, real estate firms engaged in mortgage programs need to create professionally written business plans to ensure hefty returns from the investment. After all, the business plan is one of the foundations for a successful run in the industry.
Step 2: clearly define the branding of your business, step 3: choose your marketing or advertising schemes, step 4: discuss the loan programs and requirements, step 5: use a referral system and word of mouth for more audience reach, more in mortgage templates.
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Learn how to future-proof your mortgage broker business using these 5 business plan basics., 14 minute read.
With attractive income potential and flexible lifestyle factors, the mortgage broking business can be an enticing career choice. A career in broking offers fluidity of hours in a diverse role but to succeed you’ll need the foresight to set long term goals, and an actionable plan to help you reach them. The first step to all of this is having an airtight mortgage broker business plan.
Here we show you how to create a mortgage broking business plan to set your brokerage up for success. As a mortgage broker, you’ll be providing an important service to clients all over the country. By being the best mortgage broker business you can be you are helping Australians achieve their dream of owning a home.
Before starting a mortgage broker business, it’s important to reflect on your key values, technical skills and natural aptitudes, in addition to your personality type and interests. As a mortgage broker, you’ll be helping consumers navigate life-changing decisions, providing informed guidance in what can often be stressful times. It’s a challenging role requiring a unique blend of soft and hard skills.
It might seem basic but the first step in any business plan for mortgage brokers is asking yourself the right questions. A SWOT analysis will help you weigh up the pros and cons of a mortgage broking career, and provide clarity on your target market, business size, and long term growth plan. This can go a long way to prematurely jumping into any bold decision.
The first and foremost quality that defines a good broker is an authentic desire to help customers find the ideal solutions. Successful mortgage brokers are customer-oriented, have a knack with numbers, and can set long-term goals. Planning is everything, because the nature of mortgage broking means that you’ll be solving complex problems whilst also managing long-term relationships. To succeed, you’ll need the foresight to set long-term results-focused goals, and that means a mortgage broker business plan that extends to the next 3 years and beyond is vital.
It is worth noting, mortgage brokers are not alone in this journey and are also able to look for help outside their organisation to support their business practices. For this reason, it is worthwhile considering how you can engage with a company such as MBW to handle your marketing needs including logo design , website design and even mortgage broker lead generation .
Creating a mortgage broker marketing plan to complement your business plan before beginning your life as a broker is also useful to consider how you can develop a sustainable pipeline of leads. In particular, it will inform you of the costs associated with generating new opportunities and prospects on an ongoing basis.
Many aspiring mortgage brokers are taken by surprise when faced with setup costs, and it’s crucial not to overlook any expenses when writing a mortgage broker business plan. Independent mortgage brokers undoubtedly pay the largest setup and ongoing costs, but this is not the only way to become a mortgage broker and the right decisions on business structure and aggregator can save you money over the long run.
If you join an existing brokerage you’ll have some support to cover the costs of getting started such as branding and marketing, but more significantly, existing firms usually cover many overheads should you join the right one. It is for this reason that mortgage brokers can save thousands with the right partners and aggregator groups.
If however, you are looking to become your own boss, then starting your own mortgage broking business has its benefits too. Investing in your own brand can lay the foundation for financial independence over the long-run as your brand will eventually do the work for you.
Whether you’re new-to-industry or starting a mortgage broking business, it’s worth familiarising yourself with the various certifications, licensing and membership and insurance fees required. Calculating setup costs is an important step in any mortgage broker business plan.
This checklist covers some of the start-up essentials you won’t want to overlook.
On top of this, you should also consider the costs associated with marketing your brokerage. While these costs can vary significantly, it is worth noting that spending on marketing and lead generation can help you to attract new customers on an ongoing basis.
3. decide on your mortgage broker business structure.
A key decision when making your mortgage broker business plan is whether you’ll be working for a brokerage as a contractor, on a PAYG basis (employee), or striking out as a sole trader. With the right brokerage agreement, PAYG mortgage brokers have the potential to save thousands on operating costs, training, support staff and systems, in addition to guaranteed leads each month. For this reason, researching existing brokerage firms to join should be high on the list for a successful mortgage broker business plan. As a contractor or PAYG employee, a good brokerage will help you maximise your profits.
As a self-employed broker on the other hand, you get to decide your own fortune through your own efforts. This means flexible work hours, control over your earnings and commission, and complete autonomy on marketing and business decisions. There are however, a number of additional expenses to factor into your mortgage broker business plan if you are planning to operate your broker business under your own banner.
Failing to plan ahead for these running costs is what leads most new Australian businesses to fail in the first few years. As a self-employed broker, having a thorough mortgage broker business plan could be what makes or breaks your business. For independent mortgage brokers for example, some basic running costs may include:
To become a certified mortgage broker, you’ll first need to complete a Certificate IV in Finance and Mortgage Broking (FNS40815) as a minimum requirement. Next, depending on the aggregator and industry body you join, you may be required to complete a Diploma in Finance and Mortgage Broking Management (FNS50315). Each course takes about 6 months to complete, and you can complete both in a year via distance education so you may want to consider your options when you make your business plan for mortgage broking.
Rather than engaging solely in an online course, which can feel sterile and un-motivating, many experienced mortgage brokers recommend workshops designed to streamline the study process by guiding you through the learning material. For the Cert IV, workshops are typically 3 days depending on the training provider, and Diploma workshops are an additional 2 days.
For credit officers and other finance industry professionals looking to gain formal qualifications, Recognition of Prior Learning (RPL) discounts may be available, so it’s worth researching this when you’re choosing a Registered Training Provider (RTO) to study with. Different RTOs have varying fees, and it’s worth researching the reputation of an RTO before committing to a mortgage broking business plan. A Certificate IV in Finance and Mortgage Broking (FNS40815) can be up to $585, and a Diploma in Finance and Mortgage Broking Management (FNS50315) can be as high as $1090. Fortunately for new-to-industry mortgage brokers, brokerages often partner with RTOs to provide discounts for their employees.
An aggregator, also called a ‘franchisor’, effectively serves as a middleman between the banks and the mortgage broker. In addition to providing access to their panel of lenders, aggregators also provide software and commission processing functions. Some aggregators also offer branding, leads and training amongst other things. Starting a mortgage broker business by aligning with the right aggregator can save you time and money.
On average, aggregators have between fifteen to forty lenders on their panel, and it’s helpful to note that the top mortgage brokers in Australia all have access to at least ten lenders at any one time. Some of the biggest aggregators in Australia include:
Choosing an aggregator shouldn’t be seen as just another regulatory requirement to meet when writing your mortgage broker business plan. It’s essential for your success as a mortgage broker that the aggregator fee structure and their panel of lenders are the right fit for your business.
Aggregator fees fall into two basic categories: commission split, and the fee-based model. To help you weigh the options and determine which model is the most beneficial for your mortgage broker business plan, read more about each structure below or get in touch and we’ll connect you with an aggregator that can help.
This model involves the mortgage broker giving the aggregator a percentage of the commission payment, typically 90% to the broker and the remaining 10% to the aggregator, and a percentage of the trail commission. Because the aggregators only take a cut of commission once the payment is received, this model is preferable for brokers who are just starting their mortgage broking business.
This model involves a monthly capped fee paid to the aggregator in exchange for access to lenders, being a flat-rate trail fee based on the loan amount. This means the more loans you write, the more you earn – because you won’t have to pay out commissions on each individual mortgage. However, this model is only beneficial if you’re writing enough loans to justify the monthly fee. As part of any business plan for mortgage brokers you should examine your expectations around leads and sales to decide on the best model for you.
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A free example of business plan for a mortgage brokerage firm. Here, we will provide a concise and illustrative example of a business plan for a specific project. This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary.
Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a mortgage brokerage business plan, your marketing plan should include the following: Product: In the product section, you should reiterate the type of mortgage brokerage that you documented in your Company Analysis.
Develop A Mortgage Broker Business Plan - The first step in starting a business is to create a detailed mortgage broker business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
Writing a mortgage broker business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready ...
11+ Mortgage Broker Business Plan Templates in DOC | PDF. Finding innovative ways to improve the business is a constant ordeal. You have corporate think tanks doing their substantial analysis about the market to help the executives create big decisions. Report documents are always on the desks that will urge the need for changes. With all the facts and figures, planning steps in to ascertain ...
Below are the sales projection for Pentagon Mortgage Brokerage Firm, LLC, it is based on the location of our business and the wide range of mortgage brokerage and loan services that we will be offering; First Fiscal Year-: $250,000. Second Fiscal Year-: $550,000. Third Fiscal Year-: $950,000.
Mortgage Broker Business Plan Template Download this free mortgage broker business plan template, with pre-filled examples, to create your own plan. ... Download as PDF Finish your business plan with confidence. Step-by-step guidance and world-class support from the #1 business planning software. Get 50% off LivePlan Now ...
How to Write a Mortgage Brokerage Business Plan in 7 Steps: 1. Describe the Purpose of Your Mortgage Brokerage Business. The first step to writing your business plan is to describe the purpose of your mortgage brokerage business. This includes describing why you are starting this type of business, and what problems it will solve for customers.
Specify how much funding you'll need, any terms you'd like applied, and the timespan your request will cover. You'll also want to add a detailed account of how you plan to use the funds. Whether you plan to request funding or not, you will need to include financial projections. While your broker business isn't yet established, analyze ...
The following Mortgage Broker business plan template gives you the key elements to include in a winning loan officer business plan. ... Below are links to each of the key sections of a sample mortgage broker business plan. Once you create your plan, download it to PDF to show banks and investors. I. Executive Summary II. Company Overview III ...
Claremont Funding offers high-quality mortgage brokerage services to residential and business customers. Our aim is to provide our customers with fair mortgage rates at reasonable prices, while keeping our clients informed and educated throughout the process. We will become friends and mentors to our customers as well as quality service ...
Download this Mortgage Broker Business Plan Template Design in Word, Google Docs, PDF, Apple Pages Format. Easily Editable, Printable, Downloadable. A professional business plan specifically tailored for a mortgage brokerage firm. It encompasses market analysis, lead generation strategies, and financial projections.
The purpose of this business plan is to raise $250,000 from an investor. The Mortgage Broker Company ("the Company") is a business devoted to providing mortgage and lending services to a diverse market of people. The Team The Management team of the Company is an extremely knowledgeable, qualified, and
A mortgage brokerage business plan is a document that outlines the strategies you have developed to start and/or grow your mortgage brokerage business. Among other things, it details information about your industry, customers and competitors to help ensure your company is positioned properly to succeed.
Consider the mortgage broker business, which is always looking for new ways to increase profits, gain more partners, improve their small marketing strategies, and even expand to serve more people. Also, make sure that planning will never stop in your industry. 5+ Mortgage Broker Business Plan Examples 1. Mortgage Broker Business Plan Template
Mortgage Broking Business Plan Business goals and objectives for next 12 months: What are your business goals and objectives you have set over the coming year? What are your goals for ... What are all the reasons why a customer would select you over another mortgage broker? How will you acquire new customers? How will you generate leads? How do ...
A business plan has 2 main parts: a financial forecast outlining the funding requirements of your mortgage broker and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.
1830 College Parkway, Suite 100 Carson City, NV 89706 (775) 684-7060 Fax (775) 684-7061 www.mld.nv.gov. MORTGAGE BROKER BUSINESS PLANAll applicants are required to provide a general business plan indicating how they plan to conduct business and a description of the policies and procedures that the mortgage broker and its mortgage agents will ...
Mortgage Broker Business Plan - Free download as PDF File (.pdf), Text File (.txt) or read online for free. An effective mortgage broker business strategy is essential for realizing homeownership goals. It's a tactical manual that delves deeply into comprehending the industry, building relationships with customers, and managing regulatory environments.
Loan Officer Business Plan Worksheet. Loan Officer Business Plan Worksheet. Step 1: KNOW YOUR NUMBERS. During this exercise we will walk you through the process of quantifying your plan, all the way from the number of leads you will need to the number of loans you will need in order to reach your annual income goal. 1.
Mentor with a top producing mortgage broker or business coach to learn the disciplines, practices, and tactics that bring success. Implement the learnings from these coaching sessions, and amend the strategies as needed. 5. Retaining clients and earning repeat business. Keeping the clients you already have is vital to loan officer business ...
12+ Trading Plan Templates in PDF | DOC. 10+ Mortgage Fee Agreement Templates in PDF | Word. 11+ Mortgage Amortization Schedule Templates in PDF | DOC. 5+ Mortgage Buyout Agreement Templates in DOC | PDF. 11+ Mortgage Broker Business Plan Templates in DOC | PDF.
Calculating setup costs is an important step in any mortgage broker business plan. This checklist covers some of the start-up essentials you won't want to overlook. Aggregator joining fee: $0 to $50,000 for a franchise. Monthly aggregator fee: approximately $500 per month taken from your commission.
means of a note and mortgage given to HTFC by the low-income household being assisted. A standard form of the note and mortgage is provided to LPA's by HTFC. The amount of the note and mortgage is the "direct HOME subsidy". Direct HOME subsidy is defined as: the amount of HOME assistance, including any program income that
Mortgage or student loan interest paid to you. Other types of payment. • Wages. • Distributions from a pension, annuity, profit-sharing or stock bonus plan, any IRA, an owner-employee plan, or other deferred compensation plan. • Distributions from a medical or health savings account and long-term care benefits. •