Mortgage Loans – 4 Different Types of Mortgage Loans to Choose From

We know that there are different types of mortgage loans, however, when you are at the point of buying a home, you need to know what type of mortgage is best for you.The loan offers available from mortgage companies today are extensive and varied. However, despite the multitude of different brand names on the market, we can readily distinguish between four basic types of mortgage loans:(a) Fixed Rate Mortgage Loan – In this type of loan, the interest rate remains unchanged throughout the life of the loan, i.e., the tax payable on the loan is kept constant. This gives prospective home owners some level of confidence that if interest rates go up, their loan will not be affected.On the other hand, one obvious drawback of this type of loan is that, if interest rates fall, they may not benefit from it.Another feature of such loans is that they usually have a set term (usually 12 to 15 years) and the early termination fee is higher. It is important to remember this fact if you plan to use part of the future savings to reduce the loan amount or period.(b) Variable Rate Mortgage Loan: This is a loan type in which for the first year (or for the first period), the interest rate is agreed. For the remaining years, it keeps on changing according to the reference rate agreed in the contract, adding a spread that varies depending on the conditions set out in the terms of the agreement.The main advantage of this type of loan is that you benefit from the interest rate cuts.This type of loan is characterized by a longer maturity period which can be as long as 25 to 30 years, and the deferred sales charge is usually lower than is the case with fixed interest rates.(c) Joint Interest Mortgage Loan: Here, the interest rate remains fixed for two, three or more years combined, and this is followed by another period in which it is variable and is adjusted according to the prevailing conditions in the market.This mortgage plan combines both the merits and demerits of fixed and variable loans. Under this plan, the repayment terms and the early termination fees are usually similar to that of the variable rate mortgage loan.(d) Flat Fee Mortgage Loan: As the name implies, it is a loan type characterized by a flat rate. It closely resembles the fixed-rate loans considering the fact that the customer always pays the same rate regardless of changing interest rates.The one major difference is that if rates do go up, instead of the borrower paying more fees, the repayment period is extended; and if the interest rates fall, the repayment period is shortened.The main disadvantage of this loan type is the level of uncertainty associated with it, as the actual term of the loan is unknown. However, its chief advantage is that you are pretty much guaranteed that the fee will not change during the lifetime of the transaction.
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Exploring Vsmile Educational Game Systems and Vsmile Games

The Vsmile educational game system is an extremely interactive and educational fun and learning system developed by Vtech to cater kids and children ages 3 to 9 years old. The whole gaming package comes with a console that is the game controller and ROM cartridges, also being referred to as “smartriges” by many. Smartriges are commonly referred to as vsmile games – they are removable cartridges one inserts on the console that contains specific games for children to play. Smartriges are also said to be a good innovation in the gaming history because they are in their nature, robust and damage resistant. Many home video game systems utilized the cartridge based system and this was the predecessor of the CD based game systems that are widely used today. However, for kids, the vsmile educational game system is really practical because they are said to be durable and tough to last for a couple of years if they are properly maintained.Now that everything has become mobile these days, vtech also released a variant of the vsmile education game console – that is, in the form of vsmile handheld versions. Now you can virtually go out on a trip and play with your favorite games using this mobile game system. A wide variety of gaming consoles have been designed and they are sometimes classified according to gender: there are blue colored ones for boys and the pink ones are for the girls. Vtech also incorporated different themes for these kids’ enhanced gaming experience – as you may have notice, vsmile games have wide array of games to choose from based on thematic concepts and cartoon characters – to name a few, Scooby Doo, Bob the Builder, The Wiggles, Cars, Ratatouille, Kung Fu Panda, Little Red Riding Hood, Spongebob Squarepants and a whole lot more.Myriad options for Smartriges or vsmile games are licensed from different trademarks and sometimes that nature of each vsmile game is dependent on its theme. So your kid will never be bored because he or she can change smartriges every now and then to explore more games. Smartriges are also classified further according to age appropriate games that would be best suited to different age groups: the beginner’s group (ages 3-5), junior thinkers (4-6), masterminds (6-8) and advanced (6-9). The age group obviously overlaps to show that some kids are likely to enjoy one after the other, or at the same time.Other parents would think that vsmile educational games systems are just pure entertainment for children. But the truth is they are intentionally designed to be highly interactive so that kids will learn a lot from them. This is the toy company’s version of “active interactive learning” through an action based gameplay.

Tax planning for real estate investors

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