Category Archives: Loan Agreements

By John B Mayall

Military personnel are highly trained and skilled in various specialties to perform their duties efficiently to safeguard the country. While they have high degree of specialization in the art of combat, many of them are not adept with facing the nitty-gritty of day-to-day life. Being a low-paying job, they need to face up with meeting the demands of their families with their meager salaries. They too find the necessity of taking up some loans to meet certain requirements like a house, educating their children, buying a car, etc. While many of them are faced up with these circumstances, it becomes very important to check on interest rates being offered for such loans as it has to feasible for the military personnel to bear these expenses. In order to safeguard their interests, a loan rate act was passed in the year 2004 for all military loans.

This act that is known as Veteran Benefits Act was approved by President Bush and was brought into effect from 10 December 2004. This act also sought out to make some vital alterations to the program called Veteran Home Loan Guaranty Program. One such change that was brought in is an increase in the upper limit of a loan that could be procured by military personnel to $359,650 from a previous figure of $240,000. It also sought an increase in the amount taken by loans for the purpose of home mortgage in Alaska, Guam, Hawaii and Virgin Islands by fifty percent. Hence, loan rate act has brought in much needed relief to many military personnel by the services it offers.

There are still more added benefits to the act. One such clause includes providing some additional benefits to personnel suffering from occupational disabilities. Personnel who had suffered disabilities of the upper extremities were provided with an additional $50,000 through a grant known as Specially Adapted Housing Grant that aimed at making the house friendlier to these people by making some modifications.

The act also sought to make important changes to the interest rates being charged for loans taken by military personnel. Through this act, it made military loans to be provided at an adjustable rate of interest that could be amended once in a year. Even the revision in the rate of interest has been fixed to a maximum of one percent with each adjustment and to a tune of not more than five percent for the entire tenure of the loan. The initial interest being charged also has to be underwritten at one percent.

Also included in the clauses of the loan rate act is the funding fee for loans. Many personnel who were not eligible for a waiver of the funding fee could now avail it because of the act. In order to be eligible for the waiver, the personnel should be in active service and veterans were not eligible. Now the act has modified it by saying that personnel who are in active duty will be eligible for the waiver if they apply for the loan before they are discharged from active service.

Thus, the loan rate act has worked in many benefits for military personnel trying to take loans. With this act, many military servicemen and women have been benefited in being able to sustain the burden of taking loans with their meager paying jobs.

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By Gerald Mason

If you are building your own home should you have two stories?

Some people wonder about two-story houses.

When are they advisable?

If your land is too restricted to get all the space you want on one floor, then the logical thing is to build on more than one floor, but if it isn’t necessary, why climb steps all your life? It takes valuable energy, steps take up room, and they cost money, more in proportion than almost any other part of the house.

Of course, some builders say that since the same roof and foundation will serve two stories as well as one, therefore the two-story house is cheaper.

It isn’t necessarily so the framing has to be heavier to support the second floor, and the joists have to be larger to span the large rooms on the first floor.

It costs more to work higher up, with scaffolding and all, so there is not much, if any, economy in building two stories if one would serve your purpose better. Although, if you prefer two stories, go ahead and build that way.

The cost is about the same. Ordinarily, housekeeping is simpler and easier in a house all on one level. Great efficiency is usually found in the one-story house.

Basements

What about a basement? In sections where basements are considered a part of every complete house, the thing to do is to keep in step with the locality. In sections where basements are considered entirely unnecessary, the thing to do is to keep in stepbut in either case, if you have good reason to be different from your neighbors, why not go ahead and do as you please?

A small basement makes a good air raid shelter, and a shelter from atomic fallout that we hear so much about nowadays. In fact, it might be a good idea to build a partial basement just for this purpose. You could also find other uses for it too, as a recreation room, a den, a boy’s hobby room, etc. You will usually find use for any room that you have.

Although the latest fads do not have to be followed, a person should be careful not to make the house look as if it had been built twenty-five years ago.

The new houses are more straightforward, not having so much that is put on just for decoration. The decoration has also taken a different form; instead of fancy gables we have “used” brick, instead of “gingerbread,” “sugar frosting.”

The days of imitation are also about gone. Time was when wood siding was cut and notched to imitate stone.

(Even Washington’s home in Mount Vernon did not escape this subterfuge.) Painters used to use a background color and graining to make pine look like walnut, mahogany, or gum wood. It is now just as inexpensive to use the kind of wood you want as it is to try to make one kind of wood imitate some other kind.

It is good idea to use a mortgage calculator when you purchase land or property to save yourself money over the long term.

About the Author: How To Save On Your Mortgage:

Save Money With Mortgage Calculators

http://www.greatpublications.com/mortgagecalc.htm

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byAlma Abell

Setting up a 401K Colusa is easy enough. Your employer K Colusa. Other plans are riskier but may gain or lose money depending on the market. Some plans are based around certain technologies. You have plans that focus on green market corporations. Other plans include oil and gas, a modest sampling of the NASDAQ, a focus on your company specifically and many more.

A 401K is tax-deferred. In other words, you don’t pay taxes on the money that goes into your 401K until you start withdrawing it upon retirement. When taken out during retirement, 401K funds act as general income. As of 2013, the highest amount you can put into your 401K is $17,500 per year. With most 401K plans, you can essentially loan yourself the money in your 401K and pay it back to yourself with interest. You can take out up to two loans at a time.

401K plans help make the retirement years easier. As a supplement to Social Security, they provide extra income that can be withdrawn each month. It is important to make your 401K as large as possible. Have the maximum amount taken out of your paycheck each month. Make sure that you are at a percentage that your employer will match at least. This ensures that you are making the most money you can for retirement savings. Social Security K money to supplement your Social Security benefits will help tremendously in your retirement years.

For more information, visit Ryanwealth.com.

Why a Used Car Loan is a Smart Investment for College Students?

by

Alan HendricksThe common myth around auto loans is that a financial obligation in the early years of life is a burden. Due to the high tuition fees and educational expenses, very few students seek external financial support. However, reliable transportation becomes an integral part for college students who require a car to get to college, internship or their job. Despite low credit score or zero credit history, getting an auto loan for college students is an achievable goal. The money invested in a car in the early years will reap rewards in the future.Why should a Student go for a Used Car Loan?1) AffordabilityThe spending capacity for a college student is limited. A used car brings forward the opportunity to buy the car that falls well within your budget. The car which is five years old with reasonable amount of miles will prove to be a cost-effective smart investment. The auto loan for a used car is easy on the pocket for students who have little monthly income to splurge. Therefore, it makes sense to buy an affordable used car that will be easy to pay off over the years.2) Correct TimingBe aware about the peak season of buying a car. The fall semester kicks off in early September. It is a smart move to plan and accumulate money for car expenses well in advance. An organized budget will give you a lot more time to research and purchase the car at the correct time. Additionally, with enough research, searching for the best deal for your used car loan will become a simple task.3) Cosigner BenefitsAs a college student, a car loan may be the first time you ever apply for a loan. Due to zero credit history, it becomes challenging to get approval for the auto loan. A cosigner with a good credit rating will help you immensely. The presence of a cosigner reassures the dealer of receiving payments and improves your chances of getting approval for the used car loan.4) Establish Credit HistoryA clean slate is the best way to set a strong foundation. The used car loan becomes the platform from which you can build your credit score. Make regular payments, show income proof in case you work part-time and save a considerable amount of money. A strong credit rating will enable you to have a stress-free financial future.A car has become an absolute commutation necessity. As for graduating students, a used car loan can help in transporting to college or work. The above points will help you understand how a used car loan can be your next smart investment.Is commuting to and fro from college a challenge? A used car loan is affordable; helps you establish a stellar credit record provided you make the purchase at the right time. Educate yourself on how a used car loan can do all that for you.

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You don’t want to be standing around with your hands in your pockets while other traders clean up . See the full review by click the link below Currency Strength Robot Review4dreview.com/csrreview.phpAuthor: Barbara Spotter