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.
Mortgage Loans – 4 Different Types of Mortgage Loans to Choose From
Digital Photography Magazines
Are you stuck for what to buy your dad or the man in your life for Christmas or a birthday? In fact, what about your mom or your sister? Would they like to record things for posterity or start to create some of their very own modern art photography for their home? Do you know an avid amateur photographer or someone who wants to make their living from photography? Give them a gift of a digital photography magazine. You could really make them smile with this thoughtful gift.”A Magazine isn’t much of a Gift!”Oh yes it is! I’m not talking of a one-off couple of dollars digital photography magazine here. Nowadays it is really easy to buy a subscription to any number of magazine options. All you need to do is check out one issue or the web site of the particular magazine that draws your interest. They will have a form (and sometimes a discount coupon) to sign up for a subscription; and you can gift that subscription to someone else quite easily. That’s a gift that is sure to be appreciated.What’s on Offer?Check out details of the particular magazine that you think is has appeal to a photography enthusiast. You will usually find that, depending on your budget, you can subscribe to several packages – usually three, six, twelve and twenty-four month subscriptions. You will also find typically find that there is a relevant free gift with the subscription and some of these are pretty valuable. A digital photography magazine subscription is easily paid for by credit card, and there are often even cheaper prices for payment by direct debit.What’s Inside?This is what most people will want to know when they buy a subscription to a digital photography magazine for themselves or someone else. Is it worth the money?Typically, these magazines have articles on photography techniques; they cover technicalities of the equipment which you need for digital photography, perhaps even comparing this equipment for different brands to help you with any future purchases. You will receive professional advice on all aspects of digital photography. Magazine formats vary, so it is worth spending some time perusing them before you decide to buy. This is most important because different photography magazines are pitched at different markets and levels of experience.Once you’ve made up your mind on the digital photography magazine subscription that you would like and you’ve paid for it, the rest is automatic. The magazines will be delivered regularly to your chosen address, usually before the magazine hits the store shelves each month.
Equipment Lease Finance Tips for New Businesses
Equipment lease finance is a great option for those who are planning to start a new business. Instead of applying at a bank for a loan to purchase necessary equipment, one can choose a leasing option which helps avoid unnecessary delays in the business operation. Moreover, one can avoid the normally extended waiting period to get their bank loan approved. In this article, we will talk about the essential tips for start-up businesses, new businesses and established businesses that are planning to apply for equipment lease financing.
In the first place, it is very important to consider one’s qualifications. Leasing companies each have their own set standards for approving leases. Always make sure that the company you choose offers services for start-up or new businesses. You will come across many lessors who are willing to finance customers with a good credit. So if your credit history is below the mark, you will want to work with leasing companies that have lower credit experience.
Many leasing companies also have restrictions on the kinds of equipment they are able to finance. For example, some lessors do not lease high-risk equipment like restaurant equipment, ATM machine routes, vending machines, etc. So you should first find out whether the leasing company you have chosen is able to provide you financing for the equipment you require. One more important thing that should be taken into account is the expiration term. You should carefully research the exact date and nature of the expiration of your lease.
When choosing the equipment lease financing option, it is very important to choose a program that is suitable for your needs. Lease programs vary depending on the company providing them. Moreover, there is no standard lease program that will suit every type of businesses. One must consider a number of things before choosing an equipment lease program. For example, the size and financial health of your organization are very important. Important information about lease programs offered by a particular company is available on its website. You should always choose a company that has a well- maintained website where you will find clear program and contact information. The better known companies will also have a simpler lease process that is more manageable and hassle-free.
Equipment lease financing has become quite popular during a time when business owners do not want to go into the hassles of bank loans that include financial statements, pro forms, business plans, tax returns, etc. Companies prefer to work with an experienced equipment financing company with whom they can freely discuss their company’s details with knowledgeable professionals and learn more about equipment lease financing