Conventional Mortgage – This mortgage, which is also known as a fixed-rate mortgage, is the one that is thought of when most people think about buying a home. These types of mortgages can run from 10 years to as much as 50 years, in some cases. They are completely amortized, or paid in full, at the end of the contract period.
In todays market most of these loans require between 20% to 30% cash down payment depending on the credit score of the borrower. Closing costs add to the amount of cash that a fixed-rate mortgage will require. Usually this will run about $3,000.00 to $5,000.00 for the average loan. This is above and beyond the down payment.
FHA Insured Mortgage – The FHA doesnt make loans or build houses. It only insures loans offered by private lenders. Mortgage insurance protects lenders against losses that result from defaults on home mortgages by the buyers. This insurance makes it possible for a buyer who cannot qualify for a conventional loan to still be able to buy a house or condominium. Townhouses and condos must be in a HUD approved complex to qualify for FHA insurance. Currently a little over one third of all home purchases in the U.S. are backed by an FHA loan.
The FHA loan programs normally require 3.5% down although in some cases a down payment as low as 0.0% can be worked out. Closing costs are quite low and in some cases no closing cost will be required. The maximum loan amount will vary and will depend on what state and county the property is located – check the FHA website to see the loan limitations for your state www.fha.gov .
A common misconception is that the FHA buyer assistance programs are only for first time buyers. This is not the case. Any prospective home buyer can use an FHA insured loan as long the buyer doesnt have a current FHA insured loan in their name. If they do have an FHA insured loan in their name that loan must have a Loan-to-Value (LTV) ratio of 75% or less. To find your LTV ratio divide the total amount of money that you owe on your home by the appraised value of your home.
A buyer can qualify for an FHA insured loan with a much lower credit score than a conventional loan requires. FHA rules governing credit scores state that any application made after October 4, 2010 where the applicant has a credit score of 580 or above is eligible for the maximum amount of FHA financing available. Borrowers with credit scores of 500 579 are eligible for 90% LTV.
VA Backed Mortgage – The main advantage for using this loan program is the 0.0% down payment that is required by the VA. It should be noted that the lender can require a down payment at his discretion. This determination is usually based on the borrowers credit score. A down payment can also be required if the loan is made with graduated payments or if the purchase price of the home is more than the reasonable value of the property as determined by the VA.
There are limitations on the amount of closing cost that the lender can charge. As this is subject to change please check the VA website, http://VA.Gov , for the current status.
Applicants with other than honorable discharges will usually require further investigation by the VA. This is necessary to determine if the separation from active duty was under other than dishonorable conditions. To see a complete list of eligibility requirements please check the VA web site.
Interest Only Mortgage – Labeling a mortgage as “Interest Only”, in most cases, is a misnomer. These loans are usually not really a loan in which the borrower only pays the interest and nothing more. “Interest Only” loans normally have a provision to let the borrower make an interest payment(s) at a specified time(s). There are some of these loans that let the borrower make only interest payments for the life of the loan and then require a balloon payment of the original loan amount at the end of the payment schedule. This type of mortgage is not a good option for most borrowers.
Adjustable-Rate Mortgage – There are many pitfalls to these types of home loans. With this loan the borrower does not know what the monthly house payment will be in the future. If interest rates go down the payment will go down but if rates go up so does the payment. As it is impossible to gage what interest rates will do over the life of a 30 year mortgage this is quite a gamble.
Just one example – A home bought for $300,000.00 on an ARM with a starting interest rate of 4% will have payments of about $1,432.25 per month to cover principal and interest. If the interest rate adjusted to 6.5% the payment would go up to $1,896.20 and if interest went to 9% that payment would jump to $2,413.86. Not many people can afford a $1,000.00 a month jump in house payments so be cautious of ARMs.
FHA 203K Program – When a borrower wants to purchase a house that needs repairs or modernization he/she will usually have to obtain financing first to purchase the home and then additional financing to do the repairs. They will then have to obtain a permanent mortgage when the work is completed to pay off the interim financing. Often this financing, the purchase and repair loans, can involve relatively high interest rates and short payoff periods.
The FHA 203(k) program was made to address this situation. The borrower can get one mortgage, at a long-term and competitive fixed rate, to finance both the purchase and rehabilitation of the property. To provide funds for the repairs, the mortgage amount is based on the projected value of the property with the repairs done and taking into consideration the cost of the work. This is a great program if the buyers are buying a “Fixer-Upper”, they want to make any special needs renovations or any other repairs or upgrades that the buyer requires or desires.
Specialty Type Mortgages
Combo or Piggyback Mortgage – This is actually 2 separate loans used to purchase 1 home. These are harder to come by in todays mortgage market. To pull off a piggyback mortgage package the borrower must have an excellent credit history. He/she will take out a 1st and 2nd mortgage on the property at the time of purchase. These mortgages can be conventional or ARM or a combination of both. One of the reasons to use a piggyback type mortgage program is to try and eliminate the requirement for mortgage insurance when the borrower has less that 20% down payment.
Equity or Second Mortgage – These are nothing more than a second or junior mortgage. They are in addition to an original mortgage and are in a lesser position. They use the equity in a home to secure a loan. These loans can be fixed rate, ARM or even a line of credit. To qualify for this type of loan most borrowers need to have equity in their home of a greater amount than the loan they are applying for.
Bridge or Swing Loan – These loans are used when a borrower wants to buy a home while an excising home is on the market but not yet sold. Equity in the borrowers current home is used to secure the bridge loan. This loan is typical paid off with proceeds from the sale of the current home.
Reverse Mortgage – These are available to anyone over the age of 62. The home owner must have enough equity in his house to meet the lenders requirements. These vary from lender to lender so the borrower will have to contact the lender to see if their home equity will meet the lenders requirements.
These are a mortgage where the lender makes monthly payment to the home owner as long as the home owner lives in the mortgaged home. The interest that is paid by the home owner can be fixed-rate or adjustable.
The advantage with this program is that, unlike a second mortgage, there is no payment due until you vacate the home or it is sold. The interest is only charged on the money you have received not a lump sum.
Interest rates on all these mortgage options are subject to rapid change and therefore are not quoted. Check with a lender, broker or agent to get the latest rates.
In general there are 3 basic types of dwellings that qualify for these mortgages. These are all Single Family Real Estate Homes (SFR) – they include Manufactured Homes (Mobile Homes), Condominiums or Townhouses and Public Urban Developments (PUD). It should be noted that to acquire a FHA or VA mortgage for a Condominium or Townhouse the Condo or Townhouse must be in a HUD approved complex or community.
This article was based on guidelines at the time this article was written January 12, 2012. Please check with the applicable agent or agency to ensure that they are still current before making any buying decisions.
Commercial refinancing is a loan option where business owners are given the option of refinancing their loans after a period of time. This helps them to consolidate already existing loans which in turn allows them to make a single payment on the loan. Business owners need to be aware of certain matters before they take out a commercial refinancing loan. These encompass the various needs and requirements as well as his capability to pay off the loan.
The chief consideration taken into account by lenders before the approval of a loan is the purpose of that loan as well as the potential for profit. They often do not have a pre-conceived set of conditions regarding the size or efficiency of the business. A number of documents are required to be provided by the borrower so as to evidence the growth viability of the business. These documents are furnished with the objective of speeding up the loan process and eliminating any ambiguities therein.in.
Great flexibility is offered since lenders have taken to the custom of formulating tailor-made plans suited for the specific requirements of each borrower. Secured and Unsecured are the main categories of the loan. Secured loans are taken against immoveable property while unsecured loans are taken without any security. This form of categorization has paved the way for the emergence of new and budding entrepreneurs. Placing of security normally avails higher loan amounts. This sort of security ranges from home, real estate or any other asset that may be valuable. Unsecured loans, on the other hand, normally attract smaller loan amounts due to their nature.
The benefit of commercial refinance loans is the allowing of borrowers to gain from relaxed terms and conditions attaching to a new loan.
In fact borrowers will take out a commercial refinancing loan if they feel that the terms and conditions are available in the market with the other lenders. Borrowers who have a bad credit history should rest assured since they are also viable candidates for commercial refinancing loans. The only point that the borrowers need to show to the lenders is that the business venture in issue has the capacity to grow and make profit in the near future. If they can do this, then they will be able to take out a loan with no hassles whatsoever. The availability of these loans is good for the sorting out of problems which may come up in the borrower’s business. A number of these problems are involved with brand extension, line extension and starting of a new venture. It is also beneficial in the provision of required capital for assembling the required infrastructure, machines and raw materials.
Presently, the business environment is expanding and developing rapidly. This sort of climate has spurred the development of these commercial refinance programs.
Buying Turkish jewelry or Turkish Real Estate is a wise investment. Turkey is noted for its naturally beautiful and historical landmarks. It is also famous for its gold deposits which outdistance the puny 19K in the U.S. or Canada; Turkish gold is 22K, 23K, and 24K. investing in either jewelry or Turkish real estate can double your investments.
Turkey is fast becoming one of the worlds emerging leaders in the export of jewelry and precious metals, rivaling Italy. The country can produce 200 tons of silver and 400 tons of gold annually, but this capacity has not been fully exploited. The top producers of jewelry are in the Anatolia area, Ankara, and Izmir, but the center for jewelry production is found in Istanbul. The growth of the jewelry industry in Turkey has grown to employ some 250,000 people.
Turkish gold and silver jewelry are ornamented with precious and semi-precious stones. These are usually designed with Anatolian or Turkish influences, which make Turkish jewelry distinctive. Expect architectural and textile designs on bracelets, rings, and necklaces. But there are newer designs to cater to modern taste.
With a reputed jeweler, tourists can get the best gold jewelry with less the cost back home and a certificate will be provided for every purchase of jewelry to authenticate its value.
Turkey is also famous for its precious stonesblack amber and iridized opal. Black amber in the Turkish region and nearby areas dates back to 130 million years ago and is prized for the unusual color. Opal, another precious stone, is iridized to give it a shine.
A popular jewelry piece is the silver and gold gilded necklaces and bracelets highlighted with semi-precious stones in varying colors, earrings of black amber and opal set in gold, multi-colored opal bracelets, silver and gold double chokers and bracelets in lacy designs, handcrafted anklets, and Evil Eye bracelets.
Turkey’s Real Estate Industry
Purchase of real estate property is restricted to twenty-four countries; among these are U.S. and Canada. Other countries are mostly European countries and it takes one to two months before the title deed is given to the buyer.
There is an assortment of Turkish real estate properties on the market ranging from golf apartments or villas, hotels, vacation homes, apartments, and land. Prices vary according to upscale and provincial locations for 200,000 or 29,000. Buyers can choose any location and type of property in any part of Turkey.
Properties on sale can be viewed online but before a purchase is made, an ocular inspection is advised to ensure that the property is in good condition and the documents are in order. A reliable online broker can be trusted to handle the transaction. But when personally buying the property, a reservation has to be made. The customer’s passport will be submitted to the Land registry Office.
The papers of the property will be inspected by the Military Head Office to check if the property is not located in a military zone. Taxes and fees have to be paid to the tax office and the authorized bank. The payments are announced during the final transaction in the office of the land registry before the seller and buyer sign the land registry book.
The Thailand Condominium Act divides foreign heirs of condos in qualified and unqualified for ownership of the inherited condominium unit. Unless the foreign heir or legatee is qualified for ownership under section 19 of the Condominium Act; any foreigner who acquires a condominium unit by inheritance in Thailand must dispose of the unit within one year of acquisition of the unit (section 19 septum Condominium Act). The fact of heirship, either under will or as a statutory heir, does not qualify the foreigner for registering of ownership at the Land Department. Under the Condominium Act the successors and assigns of a diseased foreign condominium owner must meet the same criteria as any other foreign purchaser (i.e. a foreigner must qualify under section 19 of the Condominium Act for ownership).
The following foreign natural or juristic persons are qualified to register ownership under section 19 of the Condominium Act:
(1) Aliens permitted to have residence in the Kingdom under the Immigration law;
(2) Aliens permitted to enter into the Kingdom under the investment promotion law;
(3) Juristic persons as provided in Section 97 and 98 of the Land Code and registered as juristic persons under Thai law;
(4) Juristic persons which are aliens under the Announcement of the National Executive Council No.281 dated November 24, B.E. 2515 and have obtained promotion certificate under investment promotion law;
(5) Aliens or juristic persons regarded by law as aliens who have brought in foreign currency into the Kingdom or withdraw money from Thai baht account of the person who have residence outside the Kingdom or withdraw money from a foreign currency account.
Only the above foreigners are eligible to register freehold ownership of a condominium unit in Thailand, as long as it remains within the 49% foreign ownership quota as specified in section 19 bis of the Condominium Act B.E.2522.
Generally foreign heirs are not eligible under section 19 of the Condominium Act and are required by law to dispose of the unit within 1 year of acquisition. It is not unusual for foreign heirs obtaining ownership of a condominium by inheritance to encounter problems having to deal with transferring ownership of the condominium at the Thailand Land Department or even selling the unit in time. Foreigners owning a condominium could prevent problems by planning succession of their unit in a Thai last will, and foreign heirs of a condo unit should obtain legal advice and assistance to have their rights and duties under the Thailand Condominium Act explained in an early stage of obtaining ownership of the unit by legal professionals familiar with condominium conveyancing procedures
Sabona copper bracelets are not only worn for their stylish and fine elegant looks, they are also worn for the many health benefits that they possess. No matter what style Sabona copper bracelet you choose, whether it is one that can be worn on any occasion or a high end bracelet suited for special occasions, users agree that these bracelets will ease pains. Pains from wounds, sprains, arthritis a rheumatism.
Sportsman and woman such as golfers or athletes whose arms have been injured in a game are known to wear these bracelets to aid recovery. Wearing bracelets is also said to provide a general sense of well being. Moreover, no matter what the sport is, this helps to ensure that athletes are always at the top of their game.
The question is how these bracelets can affect your health in a positive way. It is believed that copper is required for the human body to correctly function. Our blood contains copper. Even the ancients recognized this. Ancient Egyptians would sterilize wounds with copper. Aztecs commonly treated sore throats with a copper mixture.
The human body does not make copper, so it must be absorbed from what we consume. The problem with modern day diets is sufficient doses of copper are not included. While wearing a Sabona copper bracelet, some of the copper can be absorbed into our body and bloodstream through the skin .
This absorption of additional copper is thought to give the body what it needs to produce the health improvements heretofore described. If copper bracelets do perform as theory and research says, then Sabona bracelets would be at the top of the list of all copper bracelets sold because of its quality and efficiency. Why Sabona bracelets? Sabona bracelets are high quality and made of the purest copper available, which in turn delivers a much needed dose of copper to our bodies.
Many wearers of Sabona copper bracelets assert that they possess unique properties that help to relieve some of the worst symptoms associated with both arthritis and rheumatism. Whether a person will really experience these benefits if they were to wear one remains an issue of much debate. But even it one does not feel an improvement in health, the bracelet will still make an impeccable dress accessory.
In conclusion, let us note that wearers of the Sabona copper bracelet assert that it possesses unique properties that help to relieve some of the worst symptoms associated with both arthritis and rheumatism. Injuries are also said to heal more quickly.
Developing your own film and prints is one of the many fun parts of being a photographer as well as a great way to have some quiet time expanding your photographic skills. There’s something to be said about a door that literally cannot be opened and the impact of having no interruptions can have on your work. Unfortunately, few people have access to a local darkroom, so the best alternative for developing your own prints is to create a darkroom at home.
The Location Really Does Matter
Garages, sheds, basements and extra rooms are all great places to have a darkroom. Just remember before choosing a location that you’ll need access to running water and that the chemicals are hazardous and smelly. Additionally, since the room you choose will have to be completely sealed of light, it’s a good idea to choose a room with no windows that you don’t mind removing from normal life – once you make a room a darkroom it’s not going to serve as anything else. That’s why sheds or basements are common darkroom locations because they can be used just for that purpose and have running water and electricity. You can also set up a darkroom in an unused bathroom however this might be a bit cramped.
The Must-Have Darkroom Supplies
Most darkroom supplies are rather basic and won’t cost you much to get started. Excluding whatever it takes to lightproof the room you use, you can get by with the following:
* 3 Trays big enough for 8×10 paper
* 3 Sets of tongs
* Chemicals (see below)
* Enlarger and timer (see below)
* Darkroom light
The only expensive things you need are the enlarger, which you fortunately only need to purchase once, and the chemicals, which will need to be refreshed now and again. You can buy a photo enlarger for around $200 and a basic timer for about $150 or you can search online for some used equipment.
The chemicals are a bit more complicated. You can get most chemicals in either powder or liquid form. Powders are easier to store but will require mixing and sometimes can become airborne, while liquids are a little easier to deal with but take up more space and are often more expensive.
At a minimum, you’ll need to buy some developer, fixer and some stop bath. It’s a good idea to buy small quantities, or if using a powder only mix small amounts at a time, as the chemicals will go bad over time. You’ll also want to keep the chemicals in the dark in plastic bottles as glass can easily break when you’re working in the dark. A darkroom light will help you see while working with your paper but please know that a darkroom light can still ruin undeveloped film so only develop your film in complete darkness.
How to Set Up Your Darkroom
Once you have the chemicals sorted and all of your supplies in order, you’re good to go. The best darkroom layout will have a dry side and a wet side – do your cutting and enlarging on a workbench or table, then have another bench or table with your developer, stop bath, and fixer laid out and ready to go. If you have the budget, it’s best if you can have a special darkroom sink that is “always running, always full” so you can make sure that your prints are fully clean from chemicals. You may also want to consider adding a lock to the door to prevent accidental door openings while your working. However if you lock the door, just make sure that you can easily open it from inside in case of an emergency.
Once you have all of the supplies you need, you can really set up your darkroom in any place that’s protected from light. Just find a setup that works for you and before long, you’ll be developing and printing your images and will be proud to tell your friends you did it all from the comfort of your own darkroom!
If you own a business that requires extensive storage facilities, it will be necessary for you to search for a warehouse. Leasing or renting a suitable building can provide an effective solution to your space problems. If you want to find the right type of commercial property, there are a number of factors that you have to keep in mind.
You have to decide whether to lease or to rent warehouse space. A rental agreement should satisfy your needs if you just need the space for a few months. This should provide you with the flexibility that you need. If you will be using the property for many years, it is better to look for a place that you can lease.
The location of the property is another crucial consideration. If it is close to your premises, your transportation costs will be lower. Other factors that will affect accessibility must also be put into consideration. The proximity of the building to major roads, seaports or airports has to be considered.
Make sure the property that you choose has enough space for the goods that you plan to store there. The size should be chosen according to the nature and number of items that you want to store. You should also make provision for the growth of your business in the immediate feature. This will make it unnecessary for you to relocate to another place when your needs increase.
You have to investigate the security of the facility carefully. The best storage facilities are those that are equipped with secure doors, loading docks, fire alarms, video cameras and other necessary security features. Some will also provide 24-hour security patrol as an extra security measure.
The cost of the lease or rent is also important. It is necessary to compare the cost of renting different facilities before settling for the most suitable. You can really save a substantial amount of money if you take some time to compare different facilities. You should however know that depots that are very cheap may not give you quality service.
The type of utilities that are available at the San Francisco warehouse should be considered. Climate control will be an issue if you have goods that have to be kept at particular temperatures. For instance, fine textiles or sensitive electronic components should not be exposed to temperature extremes. This makes it necessary to find out the type of air conditioning and heating systems that are available.
When people think of Panama City Beach Florida, most think of the city’s fame among college students. The city receives a large number of young tourists annually as college students make a pilgrimage here during spring break. During the festive months of March and April, the young adult population takes over most of the beach area and streets as they look on to relax with friends.
Because of this growth, realtors began to launch more infrastructural developments specifically for condos. Many businesspeople saw potential in the condo industry as it attracts more investments that could boost the economy. Nowadays, these condos serve both as residence to owners and even vacation houses for owners who rent them out.
If you and your college buddies are looking to stay in Panama City Beach, why not stay over in a rented condo? Condos may give you more privacy and security as a group and it may even offer added features like the following.
It’s near shopping and other attractions
Most Panama City Beach condos are within major cosmopolitan attractions like shops, malls, restaurants, clubs etc. If you stay in a condo, you’ll have more access to more locations you wish to visit. You’ll have more time to enjoy the locations rather than spend more time looking for them.
It’s like living in a luxurious home
Panama City Beach FL condo rentals offer vacationers a chance to have a fully furnished vacation home instead of just a bed and a table. Condos generally offer more in terms of amenities like fully supplied kitchen, big screen TVs with cable and some even offer access to Wi-Fi. If you stay in a condo, you’ll also have access to the condo’s clubhouse, swimming pool area and gym during your stay.
It’s more affordable
Groups of young people usually rent out Panama City Beach condos and since groups involve 4 to 6 people, the costs appear lower. While your group may opt for a hotel, chances are, they may not avail of the same amenities that condo stays offer. For instance, you can’t cook meals in a hotel and your group will not find any big screen TVs if you get a budget room in a hotel.
There can be many times when one of us doesnt have enough funds left in the wallet and the needs are urgent to accomplish at the weekend. This is really very socking news for everyone since it is not possible sometimes to get the external fund especially when it is the time of holiday. However, there is nothing to worry today. Now, weekend loans UK are exclusive offer people of United Kingdom during cash shortfalls. These loans help all people to face financial challenges fearlessly.
In order to make pertinent funds through these loans, you have to go through some common grounds set by the lenders of weekend loans UK. In regard of criterions, you must attain the age of 18 years or more, you must be a permanent domiciled of United Kingdom, you are holding a valid running bank account and you are holding a permanent job herewith salary minimum 1000 per month. Upon meeting with these certain grounds you are an ideal candidate to enjoy these credits in stress free manner.
Theres discernment that bad credit people can not apply for these financial facilities. But this acuity is wrong. At this time, people who have poor credit scores can also apply for weekend loans UK with ease. There are many bad records which affect on your credit reputation and these poor credit scores can be CCJs, arrears, individual voluntary agreement, foreclosures, defaults, bankruptcy, late payments, missed payments, due payments and so on. This is because bad credit history is not a hassle today in order to avail a loan.
No faxing is also required and no pledging is also involved in the procedure of these loans. Reason behind of these absences is that weekend loans uk are endowed to people on the basis of their current income. Furthermore, they are short term in nature. For accessing the loan in as little as possible time you just need to go for online technique that is also known as application procedure you find it on the website of the loan for 24 hours. In application form you have to mention your right details and then, submit it. After confirming your details, the fund is transferred into your bank account earliest within 24 hours,
Under the provision of weekend loans UK you are allowed to obtain the finance in the range of 100 to 1000 for the repayment schedule of 14 to 31 days. You are also allowed to use the borrowed money for paying medical or hospital bills, credit card bills, sudden repairing of car, grocery bills and many more.
If you are looking for vacation hua hin rentals for a short term or long term rentals property hua hin then you should probably read this article.
Tira Tiraa, Thailand, the first boutique condominium project in the entire country. One of the most popular sights in Thailand for relaxing and recharging your energy, with the temptation of natural beauty and a convenient lifestyle. Fully furnished and fully kitchen equipped.
The building was unveiled earlier, yet it still continues to maintain the same style and modernity as its more recent counterparts. The best part about it is that it is just 15 minutes walk away to beach. If one has to talk in geographically accurate terms then yes the building being at hua hin beach road and not to far from the down town. It does not pose a problem as buses run at regular intervals to and fro thus making it only a couple of minutes away from central Bangkok.
The building, Tira Tiraa, still has the very best apartments for rent in Thailand. There are a variety of apartments availablethree bedrooms, two bedrooms and even some studio rooms. The average rent for a rental apartment in the metro is between 35,000 Baht/month.
The Tira Tiraa has a lot of facilitiesit is a luxury ocean liner on land! It has an amazing pool with nice adjoining shady areas to unwind and relax. A bar accompanies the pool, along with a restaurant that caters to both European and the indigenous Thai tastes. The Tira Tiraa also has a Fitness Room, Sauna Room, nearby International Golf courses etc.
The Tira Tiraa is both functional and great as either a holiday home or a vacation rentals hua hin. The building is well connected to most places by buses. You will find that the Hua Hin beach is especially near is also a couple of minutes away. If you plan to take a walk on the beach road, then you will find a variety of shops and restaurants.