What Type Of Mortgage Loan Is Right For You?
Homebuyers and homeowners need to decide which home Mortgage loan is right for them. Then, the next step in getting a mortgage loan is to submit an application ( Uniform Residential Loan Application ). Although we try to make the loan simple and easy for you, getting a mortgage loan is not an insignificant process.Below is a short synopsis of some loan types that are currently available.CONVENTIONAL OR CONFORMING MORTGAGE Loans are the most common types of mortgages. These include a fixed rate mortgage loan which is the most commonly sought of the various loan programs. If your mortgage loan is conforming, you will likely have an easier time finding a lender than if the loan is non-conforming. For conforming mortgage loans, it does not matter whether the mortgage loan is an adjustable rate mortgage or a fixed-rate loan. We find that more borrowers are choosing fixed mortgage rate than other loan products.Conventional mortgage loans come with several lives. The most common life or term of a
mortgage loan is 30 years. The one major benefit of a 30 year home mortgage loan is that one pays lower monthly payments over its life. 30 year mortgage loans are available for Conventional, Jumbo, FHA and VA Loans. A 15 year mortgage loan is usually the least expensive way to go, but only for those who can afford the larger monthly payments. 15 year mortgage loans are available for Conventional, Jumbo, FHA and VA Loans. Remember that you will pay more interest on a 30 year loan, but your monthly payments are lower. For 15 year mortgage loans your monthly payments are higher, but you pay more principal and less interest. New 40 year mortgage loans are available and are some of the the newest programs used to finance a residential purchase. 40 year mortgage loans are available in both Conventional and Jumbo. If you are a 40 year mortgage borrower, you can expect to pay more interest over the life of the loan.A Fixed Rate Mortgage Loan is a type of loan where the interest rate remains fixed
over life of the loan. Whereas a Variable Rate Mortgage will fluctuate over the life
of the loan. More specifically the Adjustable-Rate Mortgage loan is a loan that has a
fluctuating interest rate. First time homebuyers may take a risk on a variable rate for qualification purposes, but this should be refinanced to a fixed rate as soon as possible.A Balloon Mortgage loan is a short-term loan that contains some risk for the borrower. Balloon mortgages can help you get into a mortgage loan, but again should be financed into a more reliable or stable payment product as soon as financially feasible. The Balloon Mortgage should be well thought out with a plan in place when getting this product. For example, you may plan on being in the home for only three years.Despite the bad rap Sub-Prime Mortgage loans are getting as of late, the market for this kind of mortgage loan is still active, viable and necessary. Subprime loans will be here for the duration, but because they are not government backed, stricter approval requirements will most likely occur.Refinance Mortgage loans are popular and can help to increase your monthly disposable income. But more importantly, you should refinance only when you are looking to lower the interest rate of your mortgage. The loan process for refinancing your mortgage loan is easier and faster then when you received the first loan to purchase your home. Because closing costs and points are collected each and every time a mortgage loan is closed, it is generally not a good idea to refinance often. Wait, but stay regularly informed on the interest rates and when they are attractive enough, do it and act fast to lock the rate.A Fixed Rate Second Mortgage loan is perfect for those financial moments such as home improvements, college tuition, or other large expenses. A Second Mortgage loan is a mortgage granted only when there is a first mortgage registered against the property. This Second Mortgage loan is one that is secured by the equity in your home. Typically, you can expect the interest rate on the second mortgage loan to be higher than the interest rate of the first loan.An Interest Only Mortgage loan is not the right choice for everyone, but it can be very effective choice for some individuals. This is yet another loan that must be thought out carefully. Consider the amount of time that you will be in the home. You take a calculated risk that property values will increase by the time you sell and this is your monies or capital gain for your next home purchase. If plans change and you end up staying in the home longer, consider a strategy that includes a new mortgage. Again pay attention to the rates.A Reverse mortgage loan is designed for people that are 62 years of age or older and already have a mortgage. The reverse mortgage loan is based mostly on the equity in the home. This loan type provides you a monthly income, but you are reducing your equity ownership. This is a very attractive loan product and should be seriously considered by all who qualify. It can make the twilight years more manageable.The easiest way to qualify for a Poor Credit Mortgage loan or Bad Credit Mortgage loan is to fill out a two minute loan application. By far the easiest way to qualify for any home mortgage loan is by establishing a good credit history. Another loan vehicle available is a Bad Credit Re-Mortgage loan product and basically it’s for refinancing your current loan.Another factor when considering applying for a mortgage loan is the rate lock-in. We discuss this at length in our mortgage loan primer. Remember that getting the right mortgage loan is getting the keys to your new home. It can sometimes be difficult to determine which mortgage loan is applicable to you. How do you know which mortgage loan is right for you? In short, when considering what mortgage loan is right for you, your personal financial situation needs to be considered in full detail. Complete that first step, fill out an application, and you are on your way!
The E-Z Guide To Student Loans (Stafford Loans)
Student Loans are a bit overwhelming at first. Especially when you’ve just graduated high school and you have so much other stuff on your plate.I remember when I graduated high school, the only thing I wanted to know was “What will it take for me to get a college degree”. Whatever it was, I was prepared to do it. So I applied for financial assistance using FAFSA (the letters stand for Free Application for Federal Assistance in case you were wondering). Then once I actually got to college, I was ushered into a room and made to sign all this paperwork with the underlining idea being: Unless you’re going to pay your tuition cash or through some scholarship fund, you need to sign these student loan documents. I ended up signing and practically forgot about my student loans until I graduated. Then I got the bill…. OH BOY!I believe everyone should know something about student loans before signing your life away… I mean the loan documents. Not to say that student loans are BAD per say, just that an informed person is more prepared to deal with something than someone who doesn’t know their hands from their feet.So let’s get into it!What kind of Student Loans are there?The first one we’ll discuss is: The Direct Stafford LoanThe money being borrowed from this loan comes directly from your good ol’ Uncle Sam. Yes, Uncle Sam cares about you too! Direct Stafford Loans are “low-interest loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school.” I’m sure you’re asking what the requirement is to receive the Direct Stafford Loan and as with all complicated questions, the answer is, IT DEPENDS.There’s two types of Stafford Student LoansThere’s the Subsidized Stafford Loan and then there’s the Unsubsidized Stafford Loan.With the Subsidized Stafford Loan, you are not charged interest as long as you’re enrolled into school at least half-time and during grace periods and deferment periods. The Federal Government actually pays the interest for you while you’re still in school. So the loan value is actually the same amount you really borrowed. Sounds great right? Well there’s a catch. The catch is that this loan is dependent on the financial needs of the student. This loan isn’t available to everyone, its availability actually dependent on what tax bracket you and your parents fall into. Another catch is that your school actually determines how much you can barrow.The second type of Stafford Loan is Unsubsidized Stafford Loan. This type of loan is geared toward those who are qualified for Subsidized Stafford Loans, but need a little more money to pay their tuition as well as those that aren’t qualified for Subsidized Stafford Loans but still need money to pay their tuition. Just about every household is eligible for Unsubsidized Stafford Loans.How is that possible? Well for Unsubsidized Stafford Loans interest begins accumulating from the first time money is paid out. So the very first semester that your Unsubsidized Stafford Loan is applied to is also the beginning of interest accumulation on your loan. What that also means is the longer you decide to stay in college, the more interest will accumulate on your loan.What a great way to motivate you to complete your degree in 4 years right? Well, not really, but it’s definitely worth keeping in mind. However, as a word of advice, you should try paying at least your accumulated interest while your still in school to avoid blowing up your loan even further. By doing so, you could get the same benefit that Subsidized Stafford Loans give by only being responsible for the amount of your loan by the time you graduate. If you decide not to pay anything towards your loan while still in school, you’ll end up with a hefty bill by the time you graduate since your accumulated interest ends up accumulating its own interest as well.Another important point about Unsubsidized Stafford Loans is that, like Subsidized Stafford Loans, your school decides on the amount you receive. The Unsubsidized Stafford Loan isn’t quite the blank check you wished for, but it does help take care of those semesters at more expensive schools.How much money can you barrow with the Stafford Student Loan?Well as I mentioned above, ultimately your school decides that, but they also have to work within the limits set by the loan. The maximum amounts your school could allow you to barrow are listed below:Dependent Undergraduate Student (except students whose parents are unable to obtain PLUS Loans)First Year: $5,500- No more than $3,500 of this amount may be in subsidized loans.Second Year: $6,500- No more than $4,500 of this amount may be in subsidized loans.Third Year: $7,500- No more than $5,500 of this amount may be in subsidized loans.Maximum Total Debt from Stafford Loans When You Graduate* (aggregate loan limits): $31,000-No more than $23,000 of this amount may be in subsidized loans.Independent Undergraduate Student (and dependent students whose parents are unable to obtain PLUS Loans)First Year: $9,500-No more than $3,500 of this amount may be in subsidized loans.Second Year: $10,500-No more than $4,500 of this amount may be in subsidized loans.Third Year: $12,500-No more than $5,500 of this amount may be in subsidized loans.Maximum Total Debt from Stafford Loans When You Graduate* (aggregate loan limits): $57,500-No more than $23,000 of this amount may be in subsidized loans.Graduate and Professional Degree StudentFirst, Second, and Third Years: $20,500-No more than $8,500 of this amount may be in subsidized loans.Maximum Total Debt from Stafford Loans When You Graduate* (aggregate loan limits): $138,500-No more than $65,500 of this amount may be in subsidized loans. The graduate debt limit includes Stafford Loans received for undergraduate study.* You can spend more than 4 years in college but the maximum total amount you barrow from the Stafford Loan cannot exceed the limit above.Here’s an interesting fact: Outstanding Student Loan Debt in the USA is about $850 Billion and growing while consumers owe about $828 billion in revolving credit, including credit card debt.
Pittsburgh Accounting – How To Find The Best Accounting Firm In Pittsburgh For Your Small Business
If you are looking for the best accounting firm in Pittsburgh for your small business, here are five definitive facts about the city and five sure-fire ways to find the accounting firm there that best meets your small business needs.Pittsburgh — The Most Livable City In The U.S. Pittsburgh is Pennsylvania’s second largest city, population 311,647. The seven county area surrounding the city boasts a population of 2,354,957. Allegheny County, which includes Pittsburgh, is by far the biggest and most prosperous. In these seven counties, there are over 1,000 accounting firms, 40% of which are in Pittsburgh. Over half of them cater to small businesses.In 2005 and again in 2009, The Economist ranked Pittsburgh the top most livable city in the United States. In 2007, Pittsburgh claimed the number one spot in Places Rated Almanac. In 2010, both Forbes Magazine and Yahoo! had Pittsburgh at the top of their lists. Entrepreneur Magazine ranked Pittsburgh as one of the best for entrepreneurs.Pittsburgh –The City Of Bridges. Pittsburgh is the world record holder for bridges with 446 of them contained entirely within the city limits. These bridges cross the Allegheny River from the northeast and the Monongahela River from the southeast to form the Ohio River and the Downtown area of the city known as the Golden Triangle. They link the city to the four areas surrounding it, namely the North Side/North Hills, the South Side/South Hills, the East End and the West End. Four interstates (I-376, I-79, I-279 and I-579), known to Pittsburghers as the Parkway East, the Parkway West, the Parkway North and Crosstown and two major expressways (Route 28 and Route 22) connect 237 boroughs and 202 townships with each other and with Downtown Pittsburgh.Most of the larger accounting firms serving Pittsburgh’s major corporations are in Downtown Pittsburgh. However, virtually all of the accounting firms serving the city’s ever-growing small business population are located in the areas north, south, east and west of the city. These firms serve small businesses in Pittsburgh and Allegheny County and also offer their services to the other six counties that make up the Greater Pittsburgh Area. The small business accounting firms in these areas have deep-seated ties to the community, the people and the businesses residing there.Pittsburgh — A City Transformed. Thirty years ago, Pittsburgh was a dirty, smoky steel town, known as the Steel City, because of its predominance as a mighty steel-making hub. When that industry collapsed and Pittsburgh lost its manufacturing base, its blue-collar workers and corporate giants like Westinghouse, Gulf Oil, Koppers and Rockwell International, the city faced its first economic crisis in more than a century. To its credit, though, the city transformed like none other in the country and emerged twenty years later as a thriving white-collar metropolis.Today, Pittsburgh is still a steel city. US Steel, the 10th largest steel company in the world, is headquartered there. Allegheny Technologies, a world-class steel maker, has eight manufacturing plants in the region. The city still employs 7,000 steel workers and another 12,000 in the primary metals sector. Though the area lost 100,000 manufacturing jobs in the last 30 years, that sector is still one of the biggest contributors to the region’s economy. What changed is how diversified that sector is now. Cutting-edge companies in life sciences, robotics, information technology and research have joined ranks with eight Fortune 500 companies. Health care, education, research, financial services and entertainment/tourism are the newly emerging industries that are driving revenue and employment for the region.One of the fastest-growing fields supporting the city’s transformation to a white-collar economy is accounting. This is especially true as the city continues to move away from industry to service and technology. Many of the newly emerging companies across all sectors of the local economy are small businesses. Though there are already over 400 accounting firms in Pittsburgh and Allegheny County alone servicing those businesses, that number increases dramatically as you move into the other seven counties surrounding the city.Pittsburgh — A City Of Growth. The local economy mirrors the nation’s economy as it continues to battle the recession. However, the region has fared better than most places in the country and is poised for substantive growth in 2011. Economists from the city’s largest financial institutions predict that the Greater Pittsburgh Area will add 13,000 new jobs this year. Unemployment is expected to drop below eight percent as larger corporations begin to hire and newly established businesses begin to grow. Additional hiring will also be evident as new companies locate there.The University of Pittsburgh Medical Center, the city’s largest employer, is currently in a hiring mode. Retail giants like Dick’s Sporting Goods and General Nutrition Center (GNC) are growing. Google now operates a 40,000 square foot office in Pittsburgh and recently announced plans for expansion. Marcellus Shale natural gas will be a major contributor to the local economy. The Cultural Arts, including film production, continues to blossom and dozens of new information technology firms are emerging to support the growing research activity at the University of Pittsburgh and Carnegie-Mellon University.Most of the new companies being created in the area are small businesses supporting these major industries. As the area grows, these businesses will grow as well and their need for more specialized accounting services will become increasingly evident. Presently, accountant firms in the Pittsburgh area offer 18 different types of accounting to small businesses, income tax accounting and project accounting to name a few.Pittsburgh — The City Of Champions. Pittsburgh is home to three major league franchises — the Pittsburgh Pirates, the Pittsburgh Steelers and the Pittsburgh Penguins. Two of those teams have graced the city with championships, the Steelers winning six Super Bowl titles and the Penguins winning three Stanley Cups. Thanks to the ingenious idea of a beloved Pittsburgh sportscaster and his Terrible Towel, the Steelers have given Pittsburgh fans reason to proclaim their hometown pride by simply waving their Terrible Towel. This marketing icon singlehandedly created Steeler Nation, a brotherhood of loyal fans across the country that has quietly and selflessly raised millions of dollars for a local charity in Pittsburgh.This hometown pride, this brotherhood, this spirit of generosity is championed in almost every neighborhood and community in the Greater Pittsburgh area. Pittsburghers are proud, industrious, friendly and generous people. Many of them have lived in their hometown for years and have established hundreds of small businesses to support their families, their communities and the city they call home. Accounting firms throughout the area have their roots in these same neighborhoods and have managed to successfully guide and support these businesses and the local communities and organizations they serve. Because of their efforts, these small businesses continue to prosper.With a good working knowledge of the city, its economy and its people, you can easily find the accounting firm in Pittsburgh that best meets your small business needs. Here are five sure-fire ways to help you do that.Pay close attention to your location and the location of the accounting firm with whom you choose to work. Pittsburgh is a large metropolitan city with over 400 neighborhoods and communities as diverse as the people living there. These neighborhoods and communities are what make Pittsburgh unique and it is important that you find an accounting firm who knows these places and the businesses that reside there. Pittsburgh is also a city, like many other big cities in the country, plagued with traffic jams, construction delays and bad weather. These conditions cause havoc on the roads in and out of the city at any time in the course of a regular business day. Don’t waste time driving all the way across town to meet with your accountant. Besides, if your accounting firm is close to you, they should be willing to come to your place of business.Focus your attention on only those firms in Pittsburgh specializing in small business accounting. Small business accounting firms keep track of salaries and wages, deductions for federal, state and local taxes and Social Security, utility costs, maintenance, depreciation, amortization, interest and rent. They also prepare your tax returns and administer payroll, health insurance and 401K retirement programs. These are the responsibilities you will want your accounting firm to handle for you. If they can also provide sales, marketing and financial services to meet the ever-growing needs of your small business, so much the better.Think about the things you know you want to receive from your accounting firm on a regular basis. Do you want them to reconcile your business checking account each month so that you know how your business is doing and you can manage your cash more effectively? Do you want an income statement itemizing your revenue and expenses every month or every quarter so that you can determine how effectively your business is performing? Do you want to receive a balance sheet giving you a snapshot of the financial condition of your business at any specific point in time so that you have the proper financial reporting to give to banks, investors and vendors who are considering how much credit to give you? Any accounting firm in Pittsburgh that professes to be a small business accounting firm should be able to provide you with all of these things as a matter of course, including as many consultations as you might need to run your business effectively and efficiently.Get answers to all of your questions before you commit to any one accounting firm. Here are questions you might consider asking:• Where exactly is your accounting firm located in Pittsburgh?
• What accounting services do you provide for small business owners? Can you take care of me and my accounting needs?
• What ties do you have to the community? Have you ever been recognized by your Chamber of Commerce or the Small Business Administration for outstanding service to a small business owner?
• What kind of monthly/quarterly/yearly reports can I expect to receive from you? How will these reports help me to better manage my business? Will I be able to understand them without your help?
• How and in what format will you want to receive information from me? How often will you want that information?
• When I have a question or concern, how best can I communicate with you? How quickly will you respond?
• How can you help me to grow my business?Begin your search with Google, not the Yellow Pages. Start by searching for “Pittsburgh Accountants” or “Pittsburgh Accounting Firms.” Narrow your search, if necessary, by location and type of accounting services provided; for example, search for “Accounting Firms In Kennedy Township” or “Small Business Accounting In Pittsburgh.”Realize early on that accounting is the foundation upon which your success, in large part, will be determined. And remember, for the small business owner, it is all about saving time and saving money. Using these five sure-fire ways to find the best accounting firm in Pittsburgh for your small business will save you both and your company’s success depends on it.
5 Empowering Tracks From Female Icons To Make You Feel Inspired
Sometimes we all need a little lift. Whether you’ve had a recent knock to your confidence, have been going through stress in your personal or professional life, or have always struggled with your self-esteem, music is an essential tool for lifting your spirits and making you feel better about yourself.
According to a study by Heriot-Watt University, the type of music you listen to not only influences your mood, but also your personality, with indie and rock/heavy metal fans reporting the lowest levels of self-esteem, while fans of jazz, blues, opera, classical, pop, rap and soul all reported high levels of self-confidence.
So if you’re having a ‘down day’, why not boost your spirits by listening to some powerful, uplifting tracks? Here are five perfect confidence boosters.
Britney Spears – Toxic
Britney’s own struggles with her mental health and conservatorship have made her an inspiration for many people across the world.
This classic song is timelessly sensual, and the heavy beats throughout make it impossible not to dance to. A welcome blast of nostalgia, this tune has filled dance floors across the globe with fans old and new.
The video features Britney as a female spy playing the sexy flight attendant, seducing her passenger before she makes her escape on a motorbike and breaks into a high-security facility guarded by a laser security system.
This track and video is a guaranteed way to feel invincible, and deserves a place on your playlist no matter your mood.
Kelis – Milkshake
A cheesy classic that is guaranteed to make you feel all warm and gooey inside, Kelis pumps up the heat in this 00’s RnB track. Underpinned by intricate drum beats and electric elements, Kelis’ self-confidence is infectious, and it’s hard not to find yourself smiling at the lyrics.
This track is a great way to get into a flirtatious mindset, making it a great choice before going on a date or heading out for the evening.
And if you’re staying in? It’s a great mood lift. But beware! You may find yourself craving a sweet treat.
Eve (ft. Gwen Stefani) – Let Me Blow Your Mind
This RnB classic will capture your attention with its assertive rhythm and powerful vocals from 00’s icons Eve and Gwen Stefani. Featuring a laid-back – yet self-assured – beat, and catchy guitar riff, this is a great track for driving, and its empowering feel is sure to help you feel motivated.
Got a job interview lined up, or thinking of asking for a raise? This anthemic number is a quick way to feel positive and more assertive.
The video features Eve and Gwen Stefani crashing an exclusive event on quad bikes, causing a stir among the privileged attendants, and shoving the performer off stage to perform their own music, before finally being arrested and taken to the station in a police van.
This ‘baddie’ track helps you to tap into the hidden ‘bold’ side of your personality, and lifts your mood while keeping you feeling calm and cool.
Fergie – MILF$
If you have kids, it can be difficult to feel sexy. When you’re running around cleaning the house, changing nappies, or up to your elbows in dishwater, you can easily forget your sensual side – leaving you feeling frumpy and lacking in confidence and motivation.
Thankfully, Fergie’s comeback track is a quick remedy to your low mood and lethargy.
Featuring attractive mothers dressed in curve-hugging latex and silky lingerie going about their daily life in a dreamy, colourful suburbia, this track is a quick way to transform your self-esteem and transport you to a world where you are not just a mother, but a goddess too.
Why not shake off the day and tap into your feminine energy with Fergie, your sexiest PJs, and a bottle of your favourite wine?
Marina And The Diamonds – How To Be A Heartbreaker
Low confidence after a breakup? You’re not alone. Having your heart broken can leave you feeling depressed, undesirable, and unmotivated. So flip the tables on your ex and become a heartbreaker with Marina’s catchy club classic.
This empowering dance track will make you want to move your body and get in touch with your bad girl side, with its heavy beat and pounding rhythms.
Plus, if your libido has suffered as a result of your low mood, take a sneaky peek at the video – it will get your blood pumping with its steamy shower shots and smoking hot male models.