Informative Speech on Types of Mortgage Loans

Different Types of Home Mortgage Loans
Specific Purpose: After listening to my speech the audience will know what a mortgage is and understand the basic concept of the different types of home loans available today.
Thesis Statement:
Today I hope to be able to help the audience have a basic understanding of the different types of home mortgage loans.
INTRODUCTION:
I. Attention: A home mortgage is probably the single largest financial commitment that you will ever make; so selecting the right mortgage could make a huge difference in your monthly payments and the overall cost of your loan.(Psychological personal impact and Economic personal impact) II. Introduce Topic: I believe In order to make sure you are choosing the right type of loan that is right for you and meets your financial goals, you must first understand the different types of mortgages available to you and how each one may change your monthly payments in the future. (Psychological personal impact and Economic personal impact) III. Relate Topic to Audience: I bet most of you in this audience today either own a home already, or have intentions of owning a home in the future. (Psychological personal impact) IV. Speaker Ethos: I have been in the mortgage industry for almost 12 years and I am currently a processing and underwriting supervisor who overlooks the overall loan process from start to finish. V. Preview of Main Points: a. What is the definition of a Mortgage and a promissory note? (Fannie Mae mortgage basics) (Merriam-Webster) b. Conventional Mortgages (Home Loans 101) c. Government Mortgages (Home Loans 101) (So now I am going to give a brief overview of what a mortgage is)

BODY I. What is the definition of a Mortgage and a promissory note? a. Mortgage (also known as: mortgage deed) a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms. (Fannie Mae mortgage basics)

Bibliography: Fannie Mae mortgage basics. (n.d.). Retrieved March 20, 2013, from Fannie Mae: http://www.knowyouroptions.com/buy/buying-process/qualify-for-a-mortgage/mortgage-basics Federal Housing Finance Agency - Conforming Loan Limit. (n.d.). Retrieved March 20, 2013, from Federal Housing Finance Agency : http://www.fhfa.gov/Default.aspx?Page=185 Home Equity basics. (n.d.). Retrieved March 20, 2013, from Bankrate.com: http://www.bankrate.com/finance/home-equity/what-home-equity-debt-is-1.aspx Home Loans 101. (n.d.). Retrieved March 20, 2013, from home buying institute: http://www.homebuyinginstitute.com/mortgagetypes.php Merriam-Webster. (n.d.). Merriam-Webster. Retrieved March 20, 2013, from Merriam-Webster: http://www.merriam-webster.com/dictionary/promissory+note?show=0&t=1363820225 USDA Rural Development-HSF Single Family Housing Guaranteed Loan Program. (n.d.). Retrieved March 20, 2013, from USDA Rural Development: http://www.rurdev.usda.gov/HSF-About_Guaranteed_Loans.html