50 Year Mortgage - Are You Sure?

Author: Andrew Johnson

The 30-year mortgage has been around forever. Within the last 10 years we have seen the emergence of the 40-year mortgage. And now, in the last couple of months, the introduction of the 50-year mortgage. We knew it was coming, we just didn't know when. Are you sure this mortgage is right for you. Let's look at who should consider this type of loan and why.

Right Place, Right Time

This type of loan should only be considered under certain specific circumstances. There are parts of our country where the real estate market is booming and the prices you must pay for a home in those areas is several hundred thousand dollars. And this is not for a new home, this could be for a home less than 2,000 square feet built in the 50's. If you happen to live in one of those areas you know exactly what I'm talking about. Home ownership for couples early in their careers is very challenging, and realistically unaffordable without some creative financing. That is where the 50-year mortgage comes in. It's intention is to allow people in these areas an opportunity for home ownership that didn't exist before. Spreading the payments out over 50 years may lower your monthly payment enough to make home ownership a reality.

What's The Catch?

I'm glad you asked. Most, if not all, 50-year mortgages are 5/1 Adjustable Rate Mortgages. This means that for the first 5 years your interest rate is fixed. Beginning in the sixth year and every year thereafter, your rate will adjust based on the prime rate at the time. What does this mean for you. It means two things. One, if you love your home and want to live in it for many years, you will want to consider refinancing before the five years is up. Two, with the appreciation the housing market is experiencing in these areas, some will invest in a home knowing they will be selling it in a few years and profiting from the appreciation of the home and paying a lower monthly payment while it appreciates. The last scenario is for the risk takers out there. Because there will always be the what if's. What if the housing market doesn't continue to appreciate? What if I can't find a buyer when the time comes? You get the idea.

Who Really Benefits?

First of all, if you don't live in one of these type of real estate markets, or your planning to stay in your home for many years, it is my opinion not to even consider a 50-year mortgage. For those that do, or those not planning to stay in your home over 5 years, it could be the option you have been looking for to make home ownership affordable. As long as you understand what you are getting into from the beginning. Those who really benefit the most from this type of loan are the banks and mortgage companies offering them. Think about it, the monthly payment you will be making during the first 5 years is mainly interest. All benefitting the mortgage company because no headway toward the principal is being made. So, in reality, you have an interest only loan for the first five years. If you decide to refinance, the mortgage company or bank benefits again because you are converting to a new fixed rate mortgage and starting over for 30 or 40 years. So, you may be excited because you can finally become a home owner, but the financial institutions are the most excited of all.

About the author: Andrew Johnson offers tips and advice on various financial matters. He studies about different types of mortgages , banking, and investments.

The 5 Disadvantages of Condominium Ownership

Author: Nef Cortez

In the past condominiums were not necessarily considered to be a good investment for a variety of reasons, however that image has since changed dramatically. With the high price of single family homes, condominiums and townhouses are becoming more attractive to many buyers such as singles, retiring couples that are downsizing and small families that would like to purchase in excellent school districts. However, for those home buyers that have only considered a single family home as the definition of homeownership they may not be familiar with what options are available in the form of condominiums.

Condominiums are buildings in which individuals separately own the air space inside the interior walls, floors and ceilings of their unit, but they jointly own an interest in the common areas that they share such as the land, lobby, hallways, swimming pool, grounds and parking lot. While many condominiums are designed to look like apartments or are built in high rise city buildings, more and more builders are designing them where they can be referred to as townhouses. Townhouses are usually attached to one or more houses and can run the gamut from duplexes and triplexes to communities with hundreds of homes

In addition to paying a mortgage, each owner is responsible for paying a monthly fee to the condo association, usually referred to as the homeowner's association which is made up of the unit owners. The fee covers maintenance, repairs, grounds keeping and building insurance.

In the past condominium ownership suffered with a negative image for a variety of reasons, however that image has since changed dramatically. Once the thorn in homeowner's sides, condominium associations have worked hard in recent years to clean up their negative image where disputes and lawsuits were once rampant. Homeowner's associations have become savvier and much more professional about property management and have taken steps to prevent legal problems and disputes before they happen. However, there are some disadvantages that still need to be considered before you buy.

1) Monthly Homeowner's Association Fee

If there is a homeowner's association, you will usually have to pay a monthly maintenance fee that is separate from your mortgage payment. Many condominium owners factor this expense as similar to the costs they would have incurred for someone to do the lawn care and other maintenance if they owned a single family home. However, you should watch for unnecessarily high monthly charges and ask to see a copy of the latest financial statement from the homeowner's association.

2) Less Privacy

There is also less privacy than with a detached single-family home. Communal living is not always desirable for some people and the noise level generated by living in close proximity to others can influence some buyers to simply look elsewhere. Usually, the biggest concern is about parking for the owners and for their guests. However, many condominiums are being designed with their own garages and have common parking areas available for guests.

3) CCR's Can be Very Restrictive

CCR's or Covenants, Codes and Restrictions are defined as the bylaws that govern the use of the property. Most CCR's are reasonable, but some can be very restrictive. There usually are limits on the type of exterior changes or improvements you will be able to make to the property. In addition, you may find, among other things, that they prohibit or restrict pets and the renting or subletting of units. Make sure that you get a copy of the CCRs and review them (they usually have a summary booklet) before you decide to make an offer.

4) High Tenant Ratio

Also, make sure you find out the owner-to-tenant ratio. Because many condominiums are often purchased as investments, there could be a high percentage of tenants in the building. Although this trend is also changing, especially in condominiums which are located in urban areas where they provide convenient shopping, access to transportation and other amenities thereby attracting owners who intend to live in their condos.

5) Resale Value

In some real estate markets, such as Las Vegas and Florida, builders have overbuilt condominiums and townhouses and they are being sold at a loss. However, in other real estate markets they have held their value as an investment despite economic downturns and problems with some homeowner's associations.

While some of these factors would discourage some buyers from purchasing condominiums, it may be just the right investment for others because it suits their lifestyle. In spite of these disadvantages, the high price of single-family homes in some real estate markets such as California and the influx into the housing market of more single homebuyers have made condos relatively hot national investments. A professional realtor can assist and guide you in showing you which are the great deals in your local market and city.

About the author: Nef Cortez has been a licensed real estate broker and has held various positions in the mortgage and real estate industry for over 25+ years. Visit his website at Chino Hills CA Real Estate for FREE information on foreclosures or check out his blog at A Slice of So Cal Real Estate .

What Documents Are Involved When You Buy A House?

Author: Vanessa Arellano Doctor

Buying a house is not as simple as just giving another person the money for the house, and then the house is instantly yours. There are a lot of other things to consider before the whole process of purchasing any house can go underway. Once all of these elements are taken into account, the whole purchasing process can go very smoothly and expediently, but if things are not in order, then the process may take a longer time to complete.

Before you should try to buy any house, there are a few things that you need to make sure first so that you will encounter less problems along the way. You must first make sure that you have enough money to allow you to invest on a house.

The amount of credit that you have to your name does not necessarily need to be the exact amount of what you need for the house that you intend to purchase, just as long as your credit allows you to pay whatever mortgage plans or whatever payment schemes you have entered into. If you are earning, make sure that you are brining in more money than what you need to spend. This will help ensure that you have enough money in your credit to be able to pay for whatever purchases you make.

Also make sure that you have enough money to use as down payment for the house, which ranges from 10-20 percent of the purchase price of the house.

It is also a good idea to look at other houses that are available in the vicinity, and see if there are other options for you. This will help you gauge what you really want in a house, and if the house that you intend on buying is what you really want.

Try looking at the overall layout of the other houses, the number of rooms in the house, the bedrooms, kitchen, garage, and anything else that you may think as important to help you decide. Try to find other choices just in case the house that you are currently looking at is not feasible later on. Also, try to look at the neighborhood as well. This can also be a factor in how you are going to go about making your decision.

You should also have a decent real estate agent that will help represent you in the entire process of searching and negotiation of the house. Once you have already found the house that you want, allow your real estate agent to negotiate with the seller in order to get you the best deal possible. Once this has been consummated, the process of turning over the house to you now begins.

Before the house can be legally given to you, there are a few things that is necessary in order for the contract between you and the seller of the house to be consummated. The final step in the process of buying a home is usually conducted in a title office. This is where the parties involved will have to sign the necessary documents and mortgage arrangements. One of the important documents that is needed when there is a purchasing of a house is the deed of the house. This will help prove that once the whole sale has been consummated, that you are now the legal owner of the property that you are purchasing.

Another document that is needed in this type of sale is the title of the house, which helps show people that you are the person who has any legal claim to the property, or that you are the person who has any lien against it.

Once these two documents are already with you, then the house that you have purchased can already be transferred to your name, and you now legally can do whatever you wish with it, just as long as your mortgage arrangements do not encounter any problems.

Vanessa Arellano Doctor http://realestatepress.org

About the author:

http://www.jump2top.com/%3c/a>

The Importance of a Good Appraisal

Author: Ivan Cuxeva Jr

What is it Worth?

When we decide to sell a car or some unused items around the house, we make some kind of judgment as to what we think it might be worth. We may base it on what we paid for it or what we saw one selling for down the street, but we are the ones making the determination. However, due to the fact that most real estate transactions involve securing a loan to complete the deal, a more precise and unbiased opinion of the value is normally required. The person who makes these decisions is known as an appraiser.

Appraisers are trained and certified and state licensed professionals that understand the significance of all the components that determine what a piece of property is worth - the residential or commercial appraisal. This price is known as the market value, and that is what most lenders use as the basis for the loan amount. They note the physical characteristics of the property such as lot size, building size, condition, and comparison to other similar properties. Other factors such as the strength or weakness of the real estate market in the area, and neighborhood in which the property is located. These and other factors enter in to the calculation of the current market value of the property.

Who do I Trust?

By now, if you are like me, your head is starting to spin trying to figure out what all this means. As a real estate buyer or seller, the most important thing is to understand the appraisal. Take the time to go over all of the factors and ask questions until you understand what you have. If you have reason to question the appraisal, ask for another appraiser. Your real estate professional or your mortgage broker can help you ""get a second opinion."" It may cost you more up front, but in the long run, it can be well worth the price - in peace of mind, if nothing else.

An understanding of the market in the surrounding area is key to the appraisal process. Identical property located in the Okanagan Valley of British Columbia would appraise different than one located in an area that is not as much of an attraction. Consequently, Okanagan appraisals would best be done by an appraiser who knew the area and the real estate environment. Likewise, a firm like Caruso Daniels, Inc., would be best suited to carry out Kelowna appraisals than someone who had not been in the area since 1978. While there are a lot of differences between residential appraisals and commercial appraisals, the same thing is true. When it comes to knowing what property is worth, it is best to deal with people who know the area.

When you are buying or selling property, you have enough to worry about without being concerned about the accuracy of your appraisals. Deal with a local appraiser with a good reputation among the real estate professionals in the area. Most of all - do your homework. If you do, you will choose Caruso Daniels, Inc. for all of your Kelowna and Okanagan appraisals.

About the author: Learn more about commercial appraisals from a trusted and well established source. Your Kelowna Commercial Appraisal is in good hands with Caruso Daniels Inc.

Spanish mortgage costs explained

Author: Steven Magill

There is nothing quite as daunting as having your hopes dashed by the rocks of ignorance. The ignorance that is referred to here is the simple fact of ""not knowing"" all you need to before making a decision. A deeper understanding of Spanish mortgage costs will help you make the right decision. Although it may seem a little confusing to a beginner, we have tried to highlight the key points.

Spain is a beautiful, peaceful, and stress-free lifestyle that appeals to many. However, without knowing all there is to know about purchasing property in Spain, it can turn into quite a headache!

Spanish Mortgage costs include:

Property valuation: Spanish Mortgages require a property valuation which means that a certified valuation company will make an estimation of the value of the property before a mortgage can be taken on the property

Land registry fee: Before a Spanish Mortgage lender will lend money towards the purchase of the property, it must be ascertained if there are any outstanding debts owed against the property.

Opening Fee: Usually around 1% of the value of the property, this is the charged set fee for establishing a Spanish Mortgage.

Mortgage Insurance: When creating a Spanish Mortgage there are three types of insurance required. The first deals with the contents of the house and the house itself. The second is life insurance and the last is mortgage insurance. The first is self-explanatory and the last two are not necessarily mandatory but becomes important when negotiating the mortgage for the house.

Notary Fee: This is a charge for the clauses included in Spanish Mortgage and is based upon how many clauses there are

Land Registry Fee: The fee established by the Spanish Mortgage itself and is usually the same cost as registering the land itself, only it is included in the mortgage

Stamp Duty: Anywhere from .85% to 1.7% of the value of the Spanish Mortgage

Deed Arrangement Fee: This fee is for the deed to be inscribed in the local land registry to be certain that all matters of the Spanish Mortgage are correctly done

Early Cancellation Fee: A 1% fee based on the value of the Spanish Mortgage should the owner cancel the mortgage

Partial Cancellation Fee: Usually based on the amount of the Spanish Mortgage that is paid off early

Subrogation Fee: This fee is similar to the opening fee, but is one that the person who takes over a mortgage pays in lieu of the opening fee as in a new Spanish Mortgage, and also sets a lower rate for Notary, land taxes, and registry

Interest Payments: This is the part of the payment made to your Spanish Mortgage that is charged as a fee for the bank to carry the mortgage and is higher at the beginning of a Spanish Mortgage than at the end

Capital Repayment: This is the amount in the monthly payment that covers the actual cost of the house less the interest.

About the author: Steve Magill is the right source for more information on the Spanish mortgage market. He is a partner in http://www.buyspain.co.uk and a Fellow in the British Association of Entrepreneurs (FBAE). He holds international renown for having hands-on experience in this field.

Making an Offer on a Home

Author: Lee Keadle

So you've found the home you want to buy. Now what? You need to make an offer to buy the seller's house. Your real estate agent will have the forms you need, and he or she will talk with you to decide what terms you want. Your agent will then write the offer for you.

There is more to an offer than simply stating a price you are willing to pay. You will also tell how much money you are going to put down for the earnest money deposit. This deposit is usually about one percent of the purchase price of the home. The earnest money goes into an interest bearing account until your closing for safe keeping. The company typically gives the interest earned to various charities. An earnest money deposit shows that you are a serious buyer, and the money you put down is refunded back to you at closing (usually in the form of a credit toward your closing costs). But, if you decide to not buy the house, you can lose your deposit. In this case, the sellers would keep the earnest money.

In the offer you will also need to tell the buyer how you are financing the home. Many sellers require that you send a letter showing that you have been pre-qualified by a mortgage company. Sellers want this confirmation because they do not want to risk taking their home off the market for a potential buyer who cannot afford the home or who is not serious. This letter will also tell the seller what mortgage company you will use, what type of mortgage you have been approved for, and how much you will put in your down payment.

The offer also states which closing costs the seller will pay and which closing costs you will pay. Although there are typical seller costs and buyer costs, you do not want to make any assumptions. Because offers have to be in writing to be valid, this is your opportunity to set down fair rules about who is going to do (and pay for) what.

Your offer will also state what inspections will be performed and what repairs will be made before the closing. You can also suggest a date for the closing, but many people's schedules will have to be considered when choosing a date and time (because there are a lot of people involved in a closing!).

Last but not least, you will state the terms of cancellation in your offer. If one party does not do what it was supposed to do, the offer can be cancelled. You will also state how long the seller has to make a decision about your offer - usually buyers give 24 to 48 hours.

About the author: Lee Keadle is a full-time real estate agent in Charleston, SC. He works with a team of three agents to give buyers and sellers the best services possible. You can search for homes and vacant land on our website at http://www.SearchForCharlestonRealEstate.com

Don't Over Finance Yourself When Buying A Home

Author: Dale Mazurek

So many people get financed for a lot more than they really can afford. In this article I hope to show you some reasons why you need to be careful with the amount you finance.

So many people go in and fill out an application in hopes of getting the financing for their dream home. To your surprise you are over qualified and you get approved for much more than you applied for. You have to be careful in this scenario. You may be tempted but you don't have to take the entire amount.

Very many people get approved for a lot more than they really can afford. They look at the monthly payment and immediately assume they can afford it. What they forget about is all the other expenses that can be incurred during the time you own your home. Way too often people get so caught up in the beautiful new home that they can buy that they forget about everything else that needs to be budgeted for.

Don't think everything will be fine just because you own your own property now. What you need to do is get a mortgage calculator so you can be more realistic about what your actual expenses may be. Too many people try and stretch their finances way too far or they just aren't very good with their money and then they get themselves into trouble. Now you have to ask yourself a couple of questions.

Do You Have Money For Yourself

Even while you own your own home you still have to be able to enjoy yourself to a certain degree. So you have to make sure you have money every month in your budget to have some fun. You should be able to afford a family vacation at least once a year. You might want to go out for supper once in a while. You need to remember you may still have student loans to pay and almost always there are credit card bills.

How About Home Maintenance And Repairs

Maintenance issues are absolutely not included in your mortgage when you get it. You are always going to have utility bills where ever you live. These can easily add up to hundreds of dollars a month. Now you have to think about lawnmowers, landscaping and regular maintenance. Some small things may be able to wait but many need immediate attention.

To live happily you have to make sure you know you're spending habits. You have to know how much debt you can carry. Remember if you just came from renting and you usually live pay check to pay check you might have to break some old habits. You want to enjoy your new home so if you find yourself stressed from the beginning then maybe you're getting in too deep.

Dale Mazurek

About the author: Dale has had to make the long journey back from bad credit. He is the owner of the website http://stcajo.ecreditdirectory.com/ which can get you fitted to the best credit cards for your needs. He is also the owner of two very popular blogs which can be seen at http://creditneeds.blogspot.com/ and http://relationshiptidbits.blogspot.com/

San Francisco Bay Area Real Estate: Buy Now Or Wait It Out?

Author: Errol Vincent

Probably the most popular real estate debate today centers around the San Francisco Bay Area home sales market and whether or not now is a good time to buy a home. With recent changes in the market, most buyers are sitting on the sidelines trying to weigh the pros and cons of jumping in to seemingly unpredictable and turbulent waters. While both home prices and home sales are falling nationwide, the market in the San Francisco Bay Area is a bit of an anomaly. According to DataQuick Information Systems, a real estate research firm, though fewer properties are selling in the Bay Area, and real estate inventories are growing, overall home prices are still going through the roof. It has been reported by news media that the median price for an existing single family home rose to a record $720,000 in April of 2007 though April's sales count was the lowest in 12 years. So what is driving the market, and is now a good time to buy?

The Wealth Factor The Bay Area housing market is significantly impacted by the level of wealth shared by the people buying homes there right now. According to the California Association of Realtors, higher-priced markets have been performing better than lower-priced or ""starter home"" areas in terms of the strength of both sales and price. On the other end of the spectrum, recent sub-prime mortgage market woes have stifled the ability of people with little money to put down, and those who have poor or marginal credit; to qualify for a home loan. This segment is being squeezed out of the market by tougher lending requirements. With fewer people in the starter home demographic able to qualify for a home, both home prices and home sales in lower-priced areas have been stagnant or declining. Whether you are looking for a starter home, or you are looking to move up; if you are trying to determine whether or not now is the right time to buy, it really all depends on 1.) your credit, 2.) your overall ability to qualify for a loan, and 3.) your ability to come in with a significant down-payment.

If You Have a Weak Credit Rating, Clean Up Your Credit In recent years, there really was a loan out there for almost everyone--though, if a buyer's credit was less than perfect it could really become costly. Today, however, the days of no down-payment loans are quietly fading into the distance even for the highly credit worthy. So, if your credit report shows excessive late payments, collection accounts, charge-offs or any other derogatory items, now would be a good time to put ""homeownership"" on the back burner and move ""cleaning up your credit"" to the forefront. That way, when a solid loan program is available for you, you will be able to enter into homeownership from a position of financial strength.

Taking Advantage of the Buyers Market If your credit is strong, you have money to put down on a home, your mortgage payments are manageable for you, and you plan to stay put for more than 5 year; by all means throw your hat into the ring---especially if you are looking for a starter home in a moderately priced area. While you probably won't walk away with a ""steal"" the odds are in your favor that you will be able to purchase a home at a great price. Don't be overly concerned about whether or not home prices will slip further in the coming months. If you are planning to stay put for a little while, it really doesn't matter.

Give Up on Trying to Time the Market What many people don't understand is that it is virtually impossible to ""time the market."" Over time, home prices in the San Francisco Bay Area have risen significantly. So, while the San Francisco Bay Area is in a unique type of slump consisting of slowing sales and rising prices, whether or not now is the right time to buy, depends on your individual situation.

About the author: Errol Vincent is the Broker/Owner of VINCENTHOMES Real Estate Services. For over 15 years he has assisted clients in the San Francisco Bay Area to buy and sell real estate. For information on foreclosures or to search for homes visit www.vincenthomes.com

Holiday home mortgages - a solid property investment

Author: Sean Horton

If you've ever fancied being a property investor and you've always dreamt of having your very own place in the sun, why not combine the two and get a holiday home? Holiday home mortgages give you the chance to own a solid investment as well as have a bit of fun too!

More and more Britons are now buying their own UK holiday home, and for three different - but all viable - reasons.

1. As a pure investment property. These buyers run their holiday home as a business, paying their holiday home mortgage wit the rental income and watching the value of their investment grow.

2. For a place to retire to. Many people are now buying a holiday home with the aim that when they retire, they can move in there permanently. Until that time, hopefully the rental income will be paying off the holiday let mortgage, enabling the owner to have a worry-free financial future when they do retire.

3. For holidays! Why pay rent to stay in someone else's property when you can buy your own? If you let the property outside of your holidays, the mortgage repayments should be taken care of during the high season, so, in effect, you are having free holidays!

By now you are probably itching to go out and get your own holiday home. However, you do need to be aware that there are some considerations that you will need to think about, such as management fees, insurance and what happens if your property is not let for a long period of time.

These things aside, apart from the obvious reasons of buying your own place in the sun, with holiday home mortgages you can attract other benefits, including tax breaks. While there is too much to go into here and you will need to seek specialised advice, I am sure we'll all agree that it's nice when the tax man gives you something back!

About the author: Sean Horton is Director of Holiday Let Mortgages which offers UK residents the finance to buy a UK holiday home. The site offers a free e-guide on Holiday Home Mortgages and the process for buying a UK Holiday Home as well as advice on holiday let insurance.

Remortgage Quotes UK Makes Repayment Cheap, Curbs Budget

Author: George Cummings

People look for remortgage for several reasons in UK. Some seek it for the sake of reduction in terms of their monthly payment on their current mortgage. Some find the current mortgage rate is too high to be paid. Again there are some in UK who simply want to get remortgage quotes to grab more benefit for the time being. But, whatever may be the reason of eyeing on remortgage quotes, the basic need is to cut the cost and remortgage quotes UK are ready to serve them all in any time, any where, obviously inside UK.

Remortgage quotes UK mean to put your property in a new mortgage where you get better benefits like cheap funding as well as better terms. Remortgage quotes pay off the outstanding balance of your earlier mortgage and hence it is put into remortgage. You can use your remortgage quotes in UK for several reasons, even for a dire need like debt consolidation.

Remortgage quotes are secured in nature where you have to put your property once again for the remortgage. The remortgage quote pays off the outstanding balance of your earlier mortgage. So, having a remortgage quote means you are relieved from all of the headaches of your earlier mortgage. With remortgage quote, you can grab a better and cheap rated quote which will allow curbing your monthly budget on repayment.

However, finding viable and cheap remortgage quotes is never a tough task if you go online where things are bound to be cheap enough. Lenders in large number flock there only to make the rates cheap because they are in large chunk there. That intensifies the competition and they are thus bound to offer you cheap remortgage quotes.

Remortgage quotes are gaining popularity day by day for the simple reason that they help the borrower to reduce the budget. And, money saving is the basic urge for anyone in this world.

About the author: George Cummings works as financial advisor in Problem Remortage.He is offering loan advice for quite some time. Problem Remortgage is a place where you can get the remortgage deal that will be beneficial for you in all respects.To know more about Remortgage quotes UK, remortgage, remortgage UK, remortgage quote, remortgage quote UK, online remortgage visit http://www.problemremortgage.net

Buying Homes Pre-construction

Author: Lee Keadle

Many people hear about buying homes in the pre-construction phase of development and having the home value skyrocket in the first few years. The stories usually involve someone ""getting in"" during the early phases of development when the builders offer good incentives and competitive pricing. These homes can be great investments, but deals like these are harder to find now than they were even five years ago. So, talk to your real estate agent about pre-construction homes (and investing in the Charleston area in general) if this is something you are interested in.

A lot of our clients have opted to buy homes pre-construction because they need time to sell their current home. Building a new home in Charleston usually takes anywhere from four to nine months. We have found that new construction is the best way for people to go ahead and buy a home (reserving a price in the market) but also postpone their closing date (giving them time to sell their house). Along the same lines, most builders only require you to put down a small amount (anywhere from $1,000-15,000 depending on price of house) upfront. After you make this payment, you don't usually pay any more until the house is built and you close on it. So, if you are still making mortgage payments on your current home, you don't have to worry about making double mortgage payments until the time that your house sells. Also, if you are an investor, it would be beneficial for you to try to not close for a while so that you can capture the appreciation of the home.

Another benefit of buying homes pre-construction is that you know your home will be low maintenance. Builders are required by law to give specific minimum warranties to ensure that you don't face any major problems during the first few years of living in your new home. One of the warranties is a minimum of 1-year ""bumper to bumper"" warranty which ensures that everything in the home is covered by the builder. There is also a 2-year warranty that covers all systems (electrical, plumbing, heating and air conditioning, etc.) in the home. Another warranty is the 10-year structural warranty which covers foundation and other structural problems.

An obvious benefit of buying pre-construction homes is that you get to choose many features in your home. Depending on the progress of construction, you can often choose flooring, cabinetry, light and plumbing fixtures, etc. You can either go with the upgrades, or you can keep the standard features in order to keep costs down. If you are buying a home during the early phases of development, you can usually choose which floor plan you want to use and even which lot you want to build on.

Although there are plenty of benefits of buying new homes, there are also some drawbacks. New construction homes sometimes sit on smaller-sized lots compared to older homes. Older lot sizes in Charleston are typically about 1/3 of an acre, while newer lots are generally ¼ of an acre. These averages vary according to area, and you'll find larger lots in general in areas that are farther out in Charleston. Another drawback of pre-construction homes is that you don't have a definite closing date. Due to weather and building permits, the builders don't always close on time. A third drawback is that people can't always walk through the house and see how it looks before you buy. New construction neighborhoods almost always have a model home to show you examples of finishings and upgrades. Although these homes have different layouts and features, they can still give you an idea of the quality of work you can expect from the builder.

About the author: Lee Keadle is a full-time real estate agent in Charleston, SC. He works with a team of three agents to give buyers and sellers the best services possible. You can search for homes and vacant land on our website at http://www.SearchForCharlestonRealEstate.com

Common Mistakes Made by Home Buyers

Author: Lee Keadle

Here is your chance to learn from other home buyers' mistakes! We've listed the five most common mistakes that a home buyer can make:

1) Failing to plan for the future - Even if you think you will live in your new house for the rest of your life, you should still plan your exit strategy. If, for some reason, you needed to sell your home, would you be able to? And, if you could sell the home, would you make any profit from it? Be sure to talk with your real estate agent about buying a home with resale value so that you can plan for any problems that may come up in the future. He or she should be able to tell you what to look for.

2) Not checking the Covenants and Restrictions - Some neighborhood Homeowners Associations are stricter than others. An active HOA can be good (it can keep your neighbor from painting his house Pepto-Bismol Pink). But, if you want to store your boat at your house, add on a garage, or install a privacy fence, be sure to check with the HOA in the neighborhood before you buy. If one of the neighborhoods you're interested in doesn't allow your boat, for example, you can either price boat storage elsewhere or look in another neighborhood.

3) Not getting all agreements in writing - So that all parties will do what they say they are going to do, it is important to get these claims in writing. Your real estate agent may get the builder or the seller to sign written addendums in order to protect your best interests during the home buying process.

4) Neglecting to perform home inspections - When your real estate agent writes your contract to buy a home, he or she can include an inspection contingency. This contingency gives you a way out of the contract if the home inspection reports more repairs than you want to make. A termite inspection is usually required by your mortgage company, but a regular home inspection is usually not required. We recommend getting this standard home inspection so that you know the condition of the home before you buy it. So, if there are serious foundation problems that you did not notice earlier, your inspection contingency can get you out of the contract (and usually without any penalties).

5) Forgetting to do a final walk-through - You have an opportunity to walk through your new home right before you officially buy it. Usually the final walk-through takes place the day of or the day before your closing. Chances are that when you first looked at the home, the seller was still living there. So, during the walk-through you can see the home completely vacant and ready for you to move in. You can see for yourself that there are no problems with the house before you close on it. Also, if you know that you will not be able to go to your final walk-through because of a flight schedule, etc., you can ask your real estate agent to go instead.

Now that you've read five mistakes made by other home buyers, you shouldn't make them yourself! Learn from other people's mistakes so that you can have a good home buying experience!

About the author: Lee Keadle is a full-time real estate agent in Charleston, SC. He works with a team of three agents to give buyers and sellers the best services possible. You can search for homes and vacant land on our website at http://www.SearchForCharlestonRealEstate.com

Think Low and You Will Stay Low

Author: Jonathan Leger

Let me tell you a story about a friend of mine, who started his life as a little country boy from Nigeria. He was very poor, as most in that country are, but he worked hard and managed to get through college and earn a degree as an Investment Analyst. I'll call him Eric, but that's not his real name.

He went to work for a company in his country that did business with many other countries, handling their investments in Nigeria and the neighboring area. One day a Russian client came into the office, and was introduced to Eric.

The Russian man had a question about a contract that was prepared for use in the USA. Eric looked over it, and in two minutes told the Russian man that the contract was terrible. After some discussion about this, the Russian was so taken with Eric's abilities that he offered him a job in the USA and paid him $2,500 in cash as a sign-on bonus.

Eric was stunned. $2,500 in his country at that time was like instant wealth!

But now Eric was faced with a decision. He was a country boy, and had a hard enough time living in the city of Benin in his home country of Nigeria. He spoke English, but with a heavy accent that was sometimes hard to understand. He would be taking on some hefty responsibility for a major bank in the USA, a country he had never even visited before. He was scared to death.

What would he do? Would he decline the offer out of fear of the unknown? Would he let the risk prevent him from bettering his life and that of his family?

I got to listen to Eric's story, one on one, the other day. It was truly fascinating what he'd been through and how he'd handled it all.

Eric was happy to say that no, he had not turned down the job. He took it, and despite the trials and difficulties, he did very well with it. Now he and his family all live here in the USA, and Eric owns a prosperous mortgage loan business.

When I asked him what helped him to overcome the understandable fears he had before taking the job, this is what he told me - and I will never forget it:

""Jon,"" he said, ""if you think low you will stay low.""

Truer words have never been spoken! If you THINK you cannot do better for yourself than you are doing right now, you never will. If you THINK that others can succeed, but not you, it will come true. What you THINK will be fulfilled in what you do.

Now, if a poor country boy from Nigeria can do the work and see the rewards, eventually moving to a wealthy country and owning a successful business - although he's a foreigner and still has a pretty heavy accent that is sometimes hard to understand - what's preventing you?

Is it fear? Is it the risk of loss? Is it because although you don't like your current situation, it's familiar - comfortable - and you're resisting the change that is needed to bring success?

If so, you're not alone. Physics tells us that everything in the universe takes the path of least resistance. When you drop a ball, it always falls down, because there's no resistance to it falling down. It doesn't go up, because that would require it to struggle against gravity.

People are no different. By nature, we are inclined to take the path of least resistance, to do whatever is easiest. It requires effort to get out of our rut and make things happen for ourselves.

But, like Eric, you can do it if you THINK HIGH, not low. Don't put yourself down or convince yourself that where you are now is where you're doomed to be. And don't let trials or difficulties make you feel inadequate. The best of the best in every endeavor had trouble getting there.

Stop thinking low, or you will stay low. Think high and you will reach your dreams - no matter how high they may be.

About the author: Internet Marketing, SEO and AdSense advice and articles are posted regularly to Jonathan Leger 's blog.

5 Questions You Should Ask A Real Estate Agent Before Hiring

Author: Vanessa Arellano Doctor

Buying any piece of real estate property is not as easy as it sounds. Although almost any first-timer buyers or sellers can do it, not a lot of them has been able to do it successfully, or has been able to get the best deal out of the whole house-buying or house-selling process. There are a lot of things that people, especially first-time buyers or sellers need to consider in order for them to be able to find the best house that they really want within a price range that they can afford, or to be able to sell a house that is reasonably priced.

Keep in mind that purchasing real estate properties is one of the biggest investment that any person can make, which is why you need the best quality help that you can get in order to make sure that your whole real estate house-buying experience ends in success. One of the key things that people can do in order to make sure that they stay on the right track through the whole house-buying or house-selling process is by hiring a real estate agent who is very diligent and competent. Here are a few things that you can ask your prospective real estate agent before you start to do business with each other.

How long have you been a licensed real estate agent?

It is important to check if your prospective real estate agent is a licensed real estate agent to ensure that he or she is qualified to represent you when you do start the entire house-buying or house-selling process. You wouldn't want to be represented by a person who is only acting to be like a real estate agent, but rather, you would want to get the best quality help that you can get when you do decide to purchase or sell a house.

It is also important to ask about his or her professional experience. You can choose to use inexperienced agents, just as long as it is with uncomplicated transactions, such as condos and townhouses. However, for other types of transactions, you should try to use agents who have at least 5 years experience under their belt, to make sure that they know a lot about the business already.

How available are you?

Agents who are only working part-time is not always accessible and readily available to their clients since they may have other commitments that may get in the way of their responsibilities with you. It is important to choose agents who are working full-time. This will ensure that you will be able to constantly keep in contact with him or her, especially when you have a lot of queries and ideas that you want to share with your agent regarding the entire house-buying or house-selling process.

How do you intend to help me?

People should expect that their real estate agents have a plan on how to purchase or sell a house. The agents must be prepared to offer you information about the prospective houses that you may have an interest in buying. Also, the agent must be knowledgeable about the financing process and mortgage loan options that may be available to you to help you purchase a house.

How many clients have you handled/are you handling?

There are agents who can handle a number of clients at a time, while others have a difficult time just juggling two. It is important to make sure that your agent, whether he or she is able to handle a lot of clients at a time or not, is only handling a few clients at the time that you are hiring him or her. This will put you in a better position since this will give your agent the chance to focus on your account, instead of dividing his or her attention to ten others.

What is your fee?

Of course, you shouldn't hire any real estate agent without first asking him or her about the agent's fees or commissions. Usually, agents work for commissions, wherein they get a certain percentage of commission from the sale price of the house that they have sold. However, it is important to keep in mind that cheaper or discounted real estate agents are not always better since they may not work as hard.

Vanessa Arellano Doctor [http://realestatepress.org] ;

About the author:

http://www.jump2top.com/%3c/a>

Problem Remortgage: Cutting Down The Rate Of Interest

Author: George Cummings

If you think that the rates of interest of your current loan is too high, then consider the highly preferred loan policy known as problem mortgage. Problem mortgage is a loan scheme in which a person can switch their mortgage from current lender to a new lender who offer low rate of interest. This is a secured form of loan as mortgage is used by borrowers to the lenders. Problem mortgage generally helps the person to reduce the burden of interest rates.

In

problem mortgage , the new lender will pay all the dues of the borrower to the former lender in a single amount. And the borrower will be responsible to the new lender. Problem mortgage can be worth considering, if the rate of interest show a hike in the few months. With the help of this policy, you can very easily lessen your burden, and stabilize your financial positions. This scheme also creates opportunity to save money for the borrowers.

In the market, there are numerous lending institutions, who offer problem mortgage at marginal rate of interest. So, before coming to a particular decision always collect and compare the offered rates by different lenders. Following such steps will help you to get a rate according to your payback ability. You can also seek recommendations of the financial experts for a better deal.

Problem mortgage can be regarded to be the best loan strategy for bad credit holders. They can get an opportunity to recover and retain their weak financial position. Usually, in this loan policy lenders approve loans depending upon the applicant's monthly income, repaying capacity and his latest bank statement.

If you are thinking of approving problem mortgage in instant, then click the online application device, which is offered by every lender. This application process is fast and reliable, as it saves your time, and provides instant results. While using the hi-tech application process, furnish the precise information concerning your personal and credit score. So, problem mortgage has brought a great relief to the people who are paying high rate of interest.

About the author: George Cummings works as financial advisor in Bad Credit Remortgage Loans.He is offering loan advice for quite some time. Problem Remortgage is a place where you can get the remortgage deal that will be beneficial for you in all respects.To know more about problem mortgage, bad credit remortgage loans, adverse credit remortgage, bad credit remortgage loans uk visit http://www.badcreditremortgageloans.co.uk/

The Multiple Advantages of Secured Business Cards

Author: Ellene Bauer

Operating a business or reconstructing a credit position is so much simpler with secured business credit cards. These cards are similar to standard credit cards used today. However, possibly it is this fact that causes persons to be hesitant about it.

The secured business credit cards are credit cards that entail you to have a business for you to qualify for it and a savings deposit or collateral. This is to ensure that the lenders investment is protected in times of default payments. The credit limit would rely on the value of the savings deposit. Typically, secured business credit cards possess higher interest rates. Fortunately a lot of creditors are currently providing affordable interest rates to the borrowers. You may look in the World Wide Web for your excellent alternatives.

One primary advantage of secured business credit cards is its capability to assist you to begin a venture even if you have not made a credit score yet. Contrary to what few people think, secured cards aren't simply for those who have terrible credit standing, they're also for individuals who haven't earned credit standing at all. And for businesses who have fallen through difficult periods and is seeking for a way to mend things up and recover from the fall, availing for secured business credit cards might be the solution to that. The funds they might borrow could be helpful for their continuous transactions.

Secured business cards are your most excellent option if you want to get yourself and your business together again. Certainly, you will not like to be disqualified from your loan or mortgage applications due to that, would you? Secured credit cards offer a boost for your credit position. They normally look and work as unsecured ones, so do not be wary of bringing one.

Secured business credit cards might provide backup during financial troubles. Yet you could also help yourself in improving your present condition. You can start by making your own viable budget and sticking to it. This should be workable enough that you could save a few for the rainy day while you won't be able to neglect all your obligations, including paying your secured card bills.

About the author: Interested in best balance transfer credit cards ? Visit CreditCardMonitor.org today and find easy to get credit cards , particularly zero interest credit cards .

Real Estate Investing Unplugged

Author: Nate Rodnay

People invest in real estate for selling at a later stage for a handsome profit. For this they need to have a marketing strategy in place. Many new entrants in real estate investing have entered the business because they saw someone else do the same, and make lots of money. But it may not work for you.

There are more ways than ever before to profit from real estate investment:

1. Flipping:

In the industry, flipping is a term used to describe the act of buying, fixing up, and then reselling a piece of property. To flip a property in short term usually requires a large investment of capital, whereas long term flipping relies less on fixing up and more on the value of the area appreciating over time.

2. Offsetting Costs:

Many costs associated with renting the property can be offset even while the home is being renovated. If you are a long term investor after the renovation is complete you will rent to new tenants. You also have to take care of the hassles of finding tenants, the damage tenants might cause to your property, up keeping the property and performing repairs, etc. But still you are holding to your property and this can earn for you for the life time.

3. Garner the Foreclosed Properties:

A great way to make a bigger profit on your real estate is to purchase only properties that are foreclosing. A foreclosure happens when a property owner is no longer able to make payments on a mortgage. These people have likely been evicted from their home and, unable to rent the property, the owner is trying to sell it to recover at least some of their costs. Foreclosed properties tend to be in need of heavy repairs, but they are usually sold for a bigger profit.

4. Investment From Afar:

It is also possible to invest in real estate without buying any particular property. Many banks allow people to purchase trusts, bonds, or stocks oriented towards real estate specifically. You will be sure to want to talk to a broker before getting into this kind of real estate investing. It's always more risky to invest in a property that you've never seen before. If you're able to, it might be a good idea to visit the property before investing any kind of significant amount into it.

Real estate investors must develop a marketing strategy for their properties. Depending alone on the forecast that all property prices will always go up and never come down, it is not a safe idea, as there are times of slump in the markets. Real estate prices do come down occasionally, and real estate investors should not believe in blind faith.

About the author: Rod Khleif is Florida's Real Estate business man. Rod khleif has helped hundreds of homeowners escape foreclosure through their services. Rod khleif can help stop your foreclosure in 7 days, the services or programs that are provided by Rod khleif can create immediate cash for you and save your credit.

Christian Mortgage

Author: Martin Lukac

Christian Mortgage is a term used wherein Christian principles are used by the mortgaging company to mortgage loans to its customers. Many a times the mortgage offered by these companies are limited to only Christian customers.

It is imperative to know however what Christian principles for Christian mortgage are. The Christian principles for lending a mortgage have been same since the time Christianity has been founded. The principles of Christian Mortgage are as follows:

""In-debt According to the Christian principles, debt is not wrong because in Duet 28:12 God said, "" you will lend to many nations, but you will never need to borrow from them."" Thus, this principle defines that God would not allow anyone to be a lender. According to the Christian Mortgage, if the worth of your home is more than your mortgage, you can sell it anytime and get out of the bondage.

""Plan the entire future financial picture carefully Luke 14:28-31 ""King would ever dream of going to war without first sitting down with his counselors and discussing whether his army of ten thousand is strong enough to defeat the twenty thousand soldiers who are marching against him"" Thus, acquaint yourself with the current cost structure and estimates for all the cost that may arise. Christian Mortgage Advice: Do not opt for something that does not suit your budgetary plans.

""Less than you can afford The Christian principality underlines that man must not desire more than he can have, it is then termed as greed. Thus, the mortgage company functioning under Christianity principles will see that you obtain a Christian mortgage which is less than what you earn.

""Do not be blinded by Money Money, states the Christian principles should be used as a tool and not as a means of living. Christianity terms this as ""temptation"" and forbids good Christianity followers to be driven by temptation. Christian Mortgage belief that as mentioned in Timothy 6:10 ""For the love of money is at the root of all kinds of evil. And some people, craving money, have wandered from the faith and pierced themselves with many sorrows.""

""Be wise Be wise and generous in your dealings. Christian belief that what goes around comes around, too. You will be rewarded for your generosity. Christian Mortgage, follows the simple principle of : ""Blessed are those who are generous, because they feed the poor.""(Prov 22:9)

Thus, following the principles and structures of Christianity various Mortgage companies function, termed as Christian mortgage companies. Like other mortgage companies the, Christian Mortgage companies help you to draw conclusions which are sound. You can reach to a good conclusion through the well- informed information that the mortgage providers offer.

All the Christian Mortgage companies employ staff who are highly qualified and experienced and have a good knowledge of the market. The staffs are also very dedicated as they sincerely follow the principles of Christianity.

Christian Mortgage companies provide a complete a personal attention and do not let the customers feel left out or out of place. Thus, providing you the best that you can get.

About the author: 1ChristianFinance.com provides C hristian mortgage quote and

Christian debt consolidation financial marketplace. For more information please visit Christian Mortgage

Smart Home Buying

Author: Calum and Kathy MacKenzie

It's a sorry sight when you see so many homes being repossessed. Repo's and foreclosures and more prevalent than ever before as first-time home buyers are making some cardinal mistakes during the buying process that are leading to problems later on. One of the biggest mistakes people are making is not having their finances completely in order and arranged before buying a home. The buying of a home is an awesome responsibility both financial and otherwise and not being prepared for those responsibilities is one of the largest causes of repossessions and mortgage defaults.

Your credit is intricately tied into the purchase of a home. In fact, your credit will determine the amount that you will be able to afford to borrow on a home. Get in touch with your credit bureau and get a copy of your report. This will detail your credit history and allow you to discover anything that may be detrimental to your mortgage application. Outstanding credit issues can dramatically reduce the amount you are eligible to borrow, so it's a good idea to see to any of these things. Pay them out if necessary and get release letters from the debtors so that you can show them to a prospective lender if the paid debts have not yet been removed off your report.

The next logical step is to secure a pre-approval from a mortgage lender. This will take some careful shopping to find the loan that is right for you. There are so many different kinds of mortgage available it pays to take the time to investigate not only the loan but the lender itself. Make sure you are borrowing from a lender who has a good reputation and a good track record. This is critically important as there are many fly-by-night lenders who will take advantage of a borrower who does not do their homework. Make sure you ask about interest rates and whether or not they are fixed or variable. This can have a big impact on your monthly payments so make sure you ask about all aspects of the loan before signing it.

Finally you should be able to start looking for a home. Be careful in recognizing the difference between your needs and your wants in a home. Don't look for more home than you can handle. Be choosy when looking and if you find a suitable candidate make sure that you look it over a few times before making an offer.

About the author: Calum and Kathy MacKenzie are experienced and professional Tampa, Florida real estate agents who specialize in helping families relocate to the Tampa area. They've lived and worked in New Tampa for eleven years, and their extensive knowledge of New Tampa real estate can help mak

Know Your Credit Score

Author: David Hall

The average credit score is between 600 and 800. Your credit score is mathematical formula which is based on information in your credit report compared to other individuals. If your credit score number falls between excellent and good, this gives you the benefit of getting credit at a lower interest rate. Creditors uses credit score to predict how likely you are to pay your bills.

Individuals with bad credit may not be able to obtain credit conventionally. These individuals may have to apply for a pre-paid credit card to re-establish their credit over time. In this case the funds they are using belong to them and not the issuer of the pre-paid credit card. The credit limit is the amount of money they loaded to their pre-paid account. Prepaid Credit Card spending limit can only be made up to the balance in the account. There are no interest or finance charges on a prepaid card.

Prepaid credit card can be very beneficial since it gives you an opportunity to rebuild your credit history and being able to make purchases just as if you had regular credit card. Make sure that the company you obtained your pre-paid credit card reports the payment history to the three main credit bureaus.

Credit Bureaus Websites: Experian Equifax Trans Union

Credit Scores: Excellent credit score 750-850 Good credit score 660-749 Fair credit score 620-659 Poor credit score 350-619

It is important to know your credit score before applying for a credit card, car loan or a mortgage. This will give you a good idea how much interest the loan will cost you over time. Creditors look at your credit score in deciding whether or not to increase your credit limit or charge a higher interest rate.

Some reasons why your credit score isn't higher than it is:

Too many accounts with balances owed Poor payment history or past delinquency payments Owe too much debt on existing accounts Opened too many accounts in the last twelve months Past collection history How to improve and maintain good credit score:

Closing unnecessary accounts and consolidating your bills to make payments more manageable will help in increasing your credit score.

By not applying for too much credit within a short period of time is another factor that will help in maintaining a good credit rating.

Consistently paying your monthly payments on time will eventually re-establish your credit and subsequently will increase your credit score.

About the author: David Hall website is a credit card resource site where you can compare card offers and securely apply for credit card online: This article is free to publish in its entirety and must include all links: http://www.icreditonline.com.

Seven Benefits of Christian Mortgage

Author: Martin Lukac

The Christian Mortgage concept is built on the basis of Christian faith and principle. Various institutions around the world follow Christian Mortgage principles to shape their terms and conditions.

According to Catholic social teaching a mortgage is the provision under which people is permitted to utilize the merchandise of the globe. It signifies that no one is bestowed with the illogical right of private property while others in the world suffer from lack of it.

There are seven basic components that are found to be most attractive in choosing a Christian Mortgage.

Seven Benefits of Christian Mortgage: -

Benefits of Christian Mortgage #1 - Refinance to get a better rate: There are two types of mortgage loans in consideration of interest rates available - (a) Fixed Rate Mortgages (FRMs) and (b) Adjustable Rate Mortgages (ARMs). When you have cash down your credit at certain amount, it would be wise to opt for an ARM in exchange of a FRM. Christian Mortgage institutions often offer this opportunity to refinance. Moreover, Christian Mortgage institutions offer remarkably low rates in comparison to other institutions.

Benefits of Christian Mortgage #2 -Second Mortgages to consolidate debt or for other purposes: Christian Mortgage many times offers a second mortgage to a single person. By this way, one can get a second mortgage on a single property, after the first mortgage payment is cleared; or on the other hand, one can identify another property to mortgage when they are still paying a mortgage debt.

Benefits of Christian Mortgage #3 -Lower monthly payments: A very important benefit from a Christian Mortgage is its lower monthly payment. A monthly payment comprises of a basic payment with some interest rate. Christian Mortgages by providing you with a low interest rate cuts down your monthly payments and thereby your monthly expenses to a large extent.

Benefits of Christian Mortgage #4 -Cash Out Equity: Another benefit of Christian Mortgage is cash-out equity. When a person recognizes that the value of her/his asset has increased, or that the principal has been paid down to a particular amount, then she or he can re-borrow on that principal. The homeowner may ""cash out"" this equity in the home. By this way one can get some extra fund as cash. Christian Mortgage offers this Cash out Equity system to be used as extra cash for other beneficial purposes.

Benefits of Christian Mortgage #5 -Large tax Benefits: Christian Mortgages always fall under release of tax amount. As the basis of Christian Mortgages is social welfare and as Christian Mortgage offers genuine help to the needy people, governmental tax decreases upon this mortgage. Thus it offers a large tax benefit with it.

Benefits of Christian Mortgage #6 -Short Duration of Payment in few cases: Christian Mortgage in general offers short payment duration depending on the amount of debt. But considering the other types, Christian Mortgage institutions always aims to shape their offer personally either on shorter payment period, or shorter monthly payment amount.

Benefits of Christian Mortgage #7 - Private Mortgage Insurance: PMI is extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home's value. But in Christian Mortgage, the PMI starts at lower cash down limit, considering the borrowers' financial status.

About the author: 1ChristianFinance.com provides Christian finance analysis and c hristian mortgage assistance with your home loan. For more information please visit #1 Christian Finance Seven Benefits of Christian Mortgage

Christian Real Estate

Author: Martin Lukac

The concept of Christian Real Estate incorporates the deliverance of pure, unconstrained service and quality consultation in property matters for members of the Christian community. The Christian Real Estate principles and conditions conducting business are intensively influenced by values and morals of their faith. By faith they mean the faith that the Christian family stands upon. It is the faith on God and His compassion towards His children.

The Christian Real Estate service providers are connected via an extended family of well-established network of real estate service providers. It's the faith on benevolence of God upon His Children that binds the members of the network across the vast expanse. It is this highly well connected network of real estate firms and consultants that allows access to resourceful services. The Christian Real Estate holds the promise 'never to disappoint any of the clients' as a prerequisite. They have customized packages designed to suit every preference and requirements of various Christian buyers of real estate. The offers are in terms of budget, tenure, and rate of interest, land and property.

When it comes to offering value added services to their clients, the Christian Real Estate thoroughly abides by the realtors code of conduct and ethics. The importance is laid to the strict practice of combination pious moral guidelines along with laws of State. The business conducted is based on the basic Christian standards i.e. 'The goodwill of mankind '.

The realtors at Christian Real Estate believe in guiding the clients towards making the right decision. They offer best services and packages in terms of time, money, and convenience. Christian Real Estate consultants also recommend the best deals and market information about recent trends to their clients. The ideal location of personal land holdings should be according to the need of the residents of the house. It could be an apartment or a rented duplex. But what matters are the location, topographical relief and geologic conditions of the land.

With the Christian Real Estate network and services, none of prospective buyers of landed property would be lost in the sea of decision-making. They constantly transact with each other regarding business and community news. The best of land deals on the other corner of the expanses could be cracked while resting at our own State. They understand that the community has all kinds of people. Those who have lots to spare and those who have to count pennies but would nevertheless like to own their homes.

It is this latter group that benefits most from the Christian Real Estate consultation. They can avail mortgage offers and property choices from consultants who understand their financial constraints, their need to be located near their church and other members of their own community. And what they need most is the assurance that will not be fleeced in their real estate dealings. And Christian Real Estate programs ensure that clients get their money's worth at least worry or hassle.

It is becomes very important to get post-transaction checks and certificates for the property. There are certain real estate agents that offer their clients assistance on getting clearance certificates on pre-owned land holdings. The services become restrictive after the contract is signed and the property has been passed on under the name of the new owners. With the Christian Real Estate network and services, the regular maintenances and inspections become a more consumer-friendly procedure.

About the author: 1ChristianFinance.com provides C hristian mortgage quote and

Christian real estate financial marketplace. For more information please visit Christian Real Estate

6 best ways to get a Christian finance

Author: Martin Lukac

Christian Finance is a concept which is based on the Biblical perceptions to help teach believers their stewardship duties and to be a responsible Christian investor with their money. There are many Christian Finance principles based on Biblical affiliation such as goals, budgeting, debt elimination, saving, financial management, tithing, and giving.

There is a ministry such as Crown Financial Concepts who offers numerous books and small group studies on stewardship financial management. There are also many Christian Finance scholars available who conducts stewardship seminars and workshops based on timeless truths about how to manage their money with Christians at local churches.

Along with the teaching ministry, there are many financial institutions which are fee only financial planners that combine their Christian faith along with traditional financial services standards. They also use Christian Finance concepts to administer investment accounts for Christian values and always try to avoid investments that conflict with their client's Christian beliefs.

"" Best ways to get a Christian Finance #1 - Identify your needs - Simply contacting a Christian Finance planner is not enough. Prior to that you need to identify what you need from your consultant. This would include the type of home you would like to own, the savings that you can invest, the monthly repayments that you can afford and the value that you want out of the deal. All your transactions can then be managed with the biblically based investment advice.

"" Best ways to get a Christian Finance #2 - Get the best Christian Finance planning firm - The best Christian Financial Planning firm will help you to organize and manage the money with investment advice which are steeped in traditional values and traditional financial planning techniques. A Christian Finance planning firm is needed to help the fellow believing clients in two areas. (1. So that they are able to offer advice with solid moral Biblically based advice. 2, they can use their education and experience to provide the best advice available)

"" Best ways to get a Christian Finance #3 - Be aware - It pays to be aware. Do your research on the local real estate options as well as history so that you are familiar with the area and the projects that are on the platter. It is important to ask your Christian Finance advisor to walk you through the various properties and neighborhoods so that you can study their pros and cons yourself.

"" Best ways to get a Christian Finance #4 - Be up to date regarding the Christian financial services - Before you invest, you should be thoroughly up to date with the latest trends in the Christian Finance offers. This will help you decide what is best for you and your situation and assist in your long term finance plan.

"" Best ways to get a Christian Finance #5 - Choose the best option - Your advisor will give you several options to choose from. Make sure you evaluate them all against your finance situation and your property needs. You should opt for the program which is most comfortable even if it runs into a longer tenure. It is better to pay smaller amounts for a longer duration than hurry with repayments only to default on the mortgage which will result in the loss of your home.

"" Best ways to get Christian Finance #6 - Get the best lawyer - Though based on the Christian belief, you should also keep in mind that this is primarily a financial investment. So it is always advisable to get the best lawyer who is not only be well equipped to handle Christian Finance but will also advise and guide you through the intricate maze of real estate investment in general.

About the author: 1ChristianFinance.com provides Christian finance analysis and c hristian mortgage assistance with your home loan. For more information please visit #1 Christian Finance 6 best ways to get a Christian finance

Business Loan and Commercial Mortgage Loan Alternate Strategies

Author: Stephen A. Bush

Business borrowers have more commercial mortgage loan alternatives than they realize. I refer to these business loan alternatives as ""Thinking Outside the Bank"" because a typical commercial borrower probably believes that a bank is the best source for a commercial mortgage loan. Non-traditional business lenders are usually viewed as having the competitive edge for many common business loan scenarios.

In some cases a traditional bank will offer to provide a business loan but will attach excessively stringent terms and covenants. In other cases a traditional bank will decline the commercial mortgage outright, perhaps because they do not even provide business financing to the commercial borrower's particular industry. In either case, the commercial borrower is likely to benefit by ""Thinking Outside the Bank"".

Some business loan borrowers are likely to feel that a traditional bank is their best source for a commercial mortgage. However, because most traditional banks focus on a small number of established industries, non-traditional (non-bank) and non-local commercial lenders should be considered for most business financing situations. Therefore the recommended commercial loan strategy (as discussed in this article) is to ""Think Outside the Bank"".

As I noted in an earlier commercial mortgage article, in many non-competitive business loan situations it is not unusual for a local traditional bank to impose harsher business financing terms than would commonly be seen in a more competitive commercial loan market. Such traditional banks routinely take advantage of a relative lack of other commercial lenders in their local market.

An effective response by borrowers is to emphasize business financing options other than the traditional ones. It is not wise for business borrowers to depend only upon local banks for commercial loan possibilities. For common commercial financing circumstances, a non-local business lender can frequently provide the best business loan terms because of competition with other business lenders.

There are three business loan scenarios in which borrowers will commonly discover that non-traditional lenders will offer terms that are better for the business owner: (1) commercial real estate financing programs; (2) working capital business loan programs; and (3) business management programs for credit card processing.

Commercial Loan Programs - Commercial Mortgage Business Loan Choices

Two of the most prevalent commercial real estate loan obstacles can be precluded with a ""Think Outside the Bank"" mentality by businesses. The first commercial mortgage obstacle is the common practice of most banks to decline business financing for special purpose commercial properties such as churches and golf courses.

A second business loan possibility is the frequent practice of many commercial banks to add recall and balloon conditions to their commercial loans. The bank can then require early payoff of the commercial real estate loan under stipulated conditions. Both commercial financing situations can easily be prevented by a non-traditional lending source.

Working Capital Business Loan and Business Cash Advance Programs - Business Financing Alternatives

Many merchants that accept credit cards in their business will qualify for a merchant cash advance with credit card factoring. A traditional bank will usually be a poor source of help if a business needs to use credit card financing.

Because successful business owners typically need more working capital than they can obtain from a bank, it is important for a business to ""Think Outside the Bank"" with non-traditional lenders to help with this working capital management function.

Commercial Loan Alternatives - Programs for Credit Card Processing Management

The choice of an appropriate credit card processing service can be instrumental in improving the profitability of businesses with a high volume of credit card activity. The analysis of credit card processing providers can be effectively combined with the credit card factoring and credit card receivables process described above.

In coordinating a business cash advance and working capital business loan program, it is usually possible to achieve improvements in the business owner's credit card processing services. Traditional banks are usually not competitive in providing assistance with a business cash advance using credit card receivables. So it is likely that a non-traditional lender will be the major source of competitive help with credit card processing improvements.

A closing commercial financing comment: I have published a previous commercial loan report about business lenders to avoid. I want to emphasize that there are traditional and non-bank lenders which should be circumvented.

When business owners are ""Thinking Outside the Bank"", they should be ready to avoid troublesome non-traditional business lenders in their quest for worthy working capital management dealing with commercial real estate loans, credit card financing and credit card processing.

Copyright 2005-2007 AEX Commercial Financing Group, LLC. All Rights Reserved.

About the author: Steve Bush provides candid church financing and business loan advice. Sign up for a free series of AEX Credit Card Processing - Commercial Loan reportsFeel free to grab a unique version of this article from the business loan Articles Submissions Service

Make $2,500 to $10,000 CASH Now with Real Estate You Don't Own

Author: Brad Wozny

The best way to operate as a millionaire is to be unemployed, broke, and bankrupt. As a result, you personally own nothing, but control everything. Confused? Well let me clear that up for you. Here I'll show you how to control real estate you don't own, and will never close on, and sell it to another investor within 24 hours or less to come away with between $2,500 - $10,000 or possibly even more CASH in YOUR POCKET. For home owners with a conventional mortgage, you're probably unaware that there's a part of your mortgage contract with the bank that says that they can hand over your contract to anyone they so choose. It's called ""assignability"". That means, that your bank can SELL your mortgage to another institution, and your mortgage payments will then be redirected to this other entity who holds the mortgage on your house. The same holds true for controlling real estate. With each Accepted offer we have on real estate (where we're acting as the Buyer), we can SELL our rights of that contract out to another Investor for CASH. It's a sweet and lucrative way to get started in real estate without using credit, or money from your own pocket. In fact, that was the second I put together. You see, I couldn't qualify for a loan on the property in Detroit, and didn't have an investor to go 50/50 with yet, so I sold my rights to the contract for a cool $5,000.00 USD At the time, I was taking home $3,200 CANADIAN each month after taxes and deductions. I'd literally sold my contract in less than 90 minutes for twice my months' salary. (I was jumping for joy!) Here's another example: I've flipped contracts on Florida property to other Investors for anywhere between $5,000 to $15,000.00 USD! What's even better - is that all of these deals were put together from the comfort of home, and transacted over the internet! It's an awesome way to generate quick cash with real estate that you'll never own! For first time investors - and investors who actually have too many deals on their hands - this is a great way to quickly and efficiently turn property into cash. On a final note, I'm going to let you in on a relatively unknown secret. This could very well turn your computer into your very own ATM with a few simple clicks of the mouse. Investors from around the world are using this one strategy with an amazingly simple yet powerful new platform to click their way to wealth by trading real estate online as easy as stocks. They're doing this from their computer - in the time it takes to drink a latte. By donating $1.00 to charity today, you can setup your 7-Day Free Trial to find more deals, with bigger profits, and no hassles beginning right now at http://www.INSTANTRealEstateSolutions.com/ By the way, it's a limited time offer that's subject to change very soon, so I'd strongly recommend you take advantage of it right now. Besides - you've got nothing to lose, and everything to gain. Cheers, Brad Wozny

About the author: Brad Wozny is a full time real estate developer, entrepreneur, producer, and investment trainer. As a Canadian just starting out into real estate investing, within his first two years, he bought, sold, rented, built, assigned, or had developed $15 Million of real estate throughout North America. Visit us at http://www.INSTANTRealEstateSolutions.com/

Property Investments

Author: Roger Theron

Looking to buy property? Yes, a man must have land. Yes. Well property is a good investment, so they always say, but let's look at a couple of things to keep in mind when choosing your property. You can improve your chances of your investment blossoming into a wonderful asset by taking note of these simple things:

Location. Oh, it's so obvious isn't it? Well what makes a good location? Ideally you are looking for property in an area where people take pride in their homes, mowing their lawns and such. You also want to look out for vacant plots in the area zoned for commercial use. You don't want a spaza shop opening next door two years down the line.

Any schools in the area? Good schools? Schools are good, and the better the kids do in math class at the school, the better for your property value. See, maths is important.

Find out about the neighbourhood's crime rate. This seems obvious, but can easily be overlooked. Any information you can't get from the estate agency you should be able to find elsewhere. Go play spy and snoop around. This is going to be a big deal for you, a big expensive deal, so make sure of your choice.

Happy with the property? Okay, now check out the mortgage deal. Fixed or adjustable loan repayments? Well generally you should opt for fixed payments if there is a possibility of rates increasing in the future. Fixed rates may cost a little more right now, but you may be happy when rates soar and your payments remain stable.

Try, really try, to put down as high a percentage down payment as possible down on the deal. This can influence the interest rate, and save you a lot of money in the long run. Push for a 20% down payment.

Once you have moved into your new palace, take a look around and note all the things you want to change. That ugly fireplace. That absurd chandelier the estate agent kept harking on about. Although the temptation for an extreme makeover is immense, take a couple of months to plan and re-plan your strategy. Home improvements are expensive, and you need to be sure of what you want and what you need. Impulse buying can lead to regrets.

A final thought on location: Go for a good location, even if the house is not exactly pristine. Better an ugly house on a good block than a pretty house on an ugly block.

About the author: MensLifestyle is a site for men who are looking to live a lifestyle of health, wealth and adventure. The idea is to bring together the tips, tools and products that will help you make more money, live healthier and enjoy your life that much more.

How to Generate Purchase Mortgage Leads Using Free Reports

Author: Tom Domin

How to Generate Purchase Mortgage Leads Using Free Reports

Over the last few months, one question I'm often asked is...""How can I attract purchase money prospects without involving local Realtors/Agents in the referrals process."" Let's face it, as mortgage rates move around and the refinance applications continue to decline, a solid system for generating purchase leads is a must to ensure your survival.

The following system can generate a huge number of qualified mortgage leads for you. There's no begging for leads involved plus, delivering donuts and rate sheets are not a requirement. What is required to implement the system is some initiative on your part, coupled with a little today's technology.

The technology you'll need is called a ""call capture"" system. In case you're unfamiliar with ""call capture,"" it's simply a toll-free number and system that you dedicate to your personal mortgage advertising. The toll-free number captures every single phone number that dials your toll-free number. This includes unlisted, blocked, and cell phone numbers. Plus, if the number is listed in a directory you'll also receive the name and address of the caller. A great by-product of this system is that even if your prospect hangs up before finishing his/her request...their phone number is still captured giving you the capability of following-up.

Usually, ""call capture"" companies and marketing programs recommend that you give the toll-free number to a Realtor/Agent and allow them use the system to capture leads via their property listings. Since you are the mortgage person of choice...you have full access to the leads as well. The problem with using the ""call capture"" in this manner is that it doesn't work if you're new to the business or haven't established a good working relationship with a Realtor/Agent.

Using ""call capture"" to distribute free reports is different and...It cuts the Realtor/Agent out of the equation. The best part is that all of the leads you generate are exclusively yours.

Here's how it works...

Incorporate and offer targeted ""free reports"" into all of your marketing materials, advertising, fliers, brochures, door hangers, business cards, and everything else that promotes your mortgage business.

While your competition is offering the traditional ""low mortgage rates,"" or ""a free appraisal or pre-qualification,"" you'll be offering free information using targeted ""free reports"" instead. Here's just a few examples of ""free reports"" you can offer:

1. 5 Mortgage Secrets Every Homeowner MUST Know, but Lenders Don't Tell 2. Tips Your Banker Doesn't Want You to Know About When Shopping For a Mortgage 3. 5 Reasons Why You Should Refinance 4. How to Secure a Mortgage with Damaged Credit 5. Why Owning Your Own Home Is Better Than Renting 6. Free Report Reveals Home Inspection Tips That You Need To Know Before Purchasing

By promoting simple targeted ""free reports"" like these, you can generate hundreds of calls, all from potential clients that want and need this valuable information. Once your caller requests the report, simply send it to them and then follow-up with a phone call. This accomplishes two very important things:

1. You have identified a potential client, and 2. This gives you a unique opportunity to present yourself as a trusted advisor and expert, not just another salesperson.

You'll notice that I use the phase ""targeted free reports."" By promoting a specific group of reports you can target the types of customers you prefer to work with. You may target home buyers, first-time buyers, refinance prospects, FSBOs or, the credit challenged. The choice is yours...and the huge number of leads that you generate using this system...are also yours.

About the author: Tom Domin is the author of ""101 Ways to Originate Mortgages"" and publisher of ""Tom's Mortgage Tips"" a twice monthly Mortgage Newsletter geared for Mortgage Professionals. Put your mortgage career on the fast track and sign-up for FREE at http://www.MortgageMarketingToolKit.com/

Mortgage Calculators Answer Your Financial Questions

Author: Wayne Hemrick

If you are thinking about buying a new home, there are so many financial details to consider. What will the payment be? How much can you save if you make additional payments or go to a bi-weekly mortgage payment? How much money will you need to earn each month in order to afford your dream house? Instead of guessing, you can use a mortgage calculator to help you determine the answers to these important financial questions.

Time is money, and if you make extra payments on your home loan you can pay it off faster and save money over the life of the loan. An online mortgage calculator can help you figure how paying different extra amounts each month will shorten the loan's term and reduce the amount of interest you will pay.

You can calculate mortgage payments for a home you wish to buy. Simply put in the loan amount, the interest rate and the term of the loan, and the online calculator will figure it out for you. In this way, if you are looking at more than one home, you can compare what the payments would be and then make a more informed decision to help you narrow down your search for a new home.

You also have to determine how much home you can afford. When you plug the house payment amount, along with other expenses you have, into a free mortgage calculator , you will get your answer. You want to buy as much house as possible, but only as much as you can comfortably afford, and this tool is a great way to discover how much that will take.

Banks will tell you how much you can borrow when you want to purchase a new home. It is helpful, however, to plug your numbers into a home mortgage calculator, so you will have an idea in advance of what to expect.

Discount points are an option when you are looking at a new home loan. By using an online calculator, you can fill in the blanks for the interest rate and the rate with discount points, and let it calculate mortgage payments for you to see how they compare.

Everybody wants to save money when it comes to home financing, and it can be a good time to consider refinancing your home loan. But you will be faced with paying fees for the refinance, so you need to determine if a refinance will be worthwhile. Home mortgage calculators can be very useful for this purpose. Another benefit to home ownership is your tax deduction you get for the home while you are paying it off, so use an online calculator to estimate how much you can expect to save.

About the author: Wayne Hemrick has been in the mortgage and mortgage refinance business for over 20 years. He suggests using a comprehensive mortgage calculator to assist you in calculating your mortgage amortization schedule .

Calculate Your Mortgage Options

Author: Wayne Hemrick

Buying a house is the biggest investment you are likely to make. The interest rate and term of your mortgage can affect the monthly payment amount, and if you are considering several different houses you will need some way to compare them and make an educated choice. A mortgage calculator is easy to use, and it can help you calculate your mortgage options.

You can save money by making additional payments applied to the principal whenever you are able. This will greatly reduce the amount of interest you will pay over the life of the loan, and shorten the length of the loan. You can use a free mortgage calculator to show how much you can save by how much extra you can pay each month, and is well worth looking into.

When you are comparing homes with different prices and for different loan terms, it can be confusing to come up with what the bottom-line monthly payments will be. An online home mortgage calculator will ask you to fill in the loan amount, the interest rate and the length of the loan, and then will give you a straight answer of what your monthly payment can be. Use the calculator for each home you are considering, and you will be able to determine which will offer the best value.

You will also need to know how much money you should consider borrowing in order to purchase your new home. This will be based in part on how much you earn. Both questions can be answered quickly by plugging your numbers into a mortgage calculator that will do the math for you.

Perhaps you own a home already and are considering refinancing and switching to an ARM. This is a great option if you are planning to move when the term of the loan ends, because you will save a lot of money. You can calculate mortgage payments by using an online mortgage refinance calculator to see just how much you can save in this manner.

If you are refinancing, you will need to figure out how long it will take to repay the closing costs of the new loan to decide if makes financial sense to to ahead with a refinance. Calculate graphically mortgage savings using an online mortgage calculator with graphs , and after you do so you will see what will make the best financial sense for you.

One of the best benefits from home ownership is the tax deduction you get to take for your home. When purchasing a new home, you will want to compare how much you will save in taxes based on the size of your home mortgage. Online calculators can give you this vital information.

About the author: Wayne Hemrick has been in the mortgage and mortgage refinance business for over 20 years. He suggests using a comprehensive mortgage calculator to assist you in calculating your mortgage amortization schedule .

How to go about Managing Debt

Author: Roger Theron

If you are thinking about purchasing something on credit or taking a loan, you may find this article of interest.

About Debt

Sometimes there's just no way around it, you have to borrow money. This is often the case when buying a home or paying for education, and we must accept that this is not always a bad thing.

Buying a home and getting a tertiary education are two examples of using credit to pay for investments that may benefit us in the long run - hopefully! Property has always been one of the best investment options and the return on your investment over a few years should yield a profit, and a good education should increase your earning ability and set you up for a more successful life. How you go about managing the debt is what counts in the end though.

A business acquisition can also be a safe bet for going into debt, as long as the promise of return will be profitable. In general terms you can weigh up the decision of whether to purchase on credit or not by estimating the long term return on your investment. A student loan, mortgage or loan for buying a business may well turn out to be good decisions which set you up to create greater wealth. Managing debt begins with knowing when to buy on credit.

Problems arise when purchases are made on credit for things which depreciate in value. The most common of these purchase types is cars, but sometimes this is unavoidable. Try really hard not to pay for items such as furniture, televisions, sound systems or computers with credit. Purchasing excessively on your credit card can be a sign of mismanaging your debt. If you need to resort to buying on credit the most important thing to remember is to keep track of your debt!

Plan your repayments and make sure that you are able to stay above water. Keeping a close eye on your credit will help in managing debt.

About the author: MensLifestyle is a site for men who are looking to live a lifestyle of health, wealth and adventure. The idea is to bring together the tips, tools and products that will help you make more money, live healthier and enjoy your life that much more.