by Vikramkuamr
Do you currently own a home and wish to lower your home mortgage rate? Or maybe you are going to be purchasing a home sometime in the near future? If so then you will probably have to take out a mortgage loan unless you are fortunate enough to be able to pay for the entire house. It is extremely important to compare low mortgage rates in order to find the lowest rates possible. There are a number of things that you can do to help lower your home mortgage rate. There are many websites that will allow you to compare low mortgage rates allowing you to select the lowest.Besides trying to compare low mortgage rates there are a number of other things that you can do to lower your home mortgage rate such as improving your credit score. In order to improve your credit score you will want to make sure that you pay all of your bills on time and also be sure to pay off any existing debts that you have. It is common for lenders to evaluate your credit score and your debts in order to determine how risky you are when it comes to you paying to paying your monthly payment. Therefore you will want to achieve a good credit score. It is also important that you do not apply for any new credit cards during this time.
When it comes to putting up a down payment on your home you will want to put as much money as possible down. The bigger your down payment is the lower your interest rate will be. This is one of the ways that you can lower your home mortgage rate. You will need to check with your lender to determine if there are cut off points on the size of your down payment. By putting down five thousand dollars or ten thousand dollars more you can bring your interest rate down by a much as a tenth of a point and sometimes even more.
When trying to lower your home mortgage rate you will want to work with several different mortgage brokers or lenders and compare low mortgage rates to get the best offer. When working with a broker you need to remember that the broker will probably get commission from you as well as from the lender. Brokers will often work with many different lenders but they often will fail to tell you which option is your best. It is extremely important to make the brokers compete for your business when trying to lower your home mortgage rate. You will also want to use the internet to help you compare low mortgage rates.
There are many websites that will give the ability to compare low mortgage rates with one another. Lowest-Mortgage-Rates is one of those websites. The website will not only allow you to compare rates but it will allow give you the ability and tools needed to find the lowest mortgages rates and the best lenders in your specific area. The website and the company behind it will help you lower your monthly mortgage rate payment by giving you a new low rate. The company employs a number of debt settlement pros that will help you reduce your bills by forty to eighty percent.
6/07/2009
Retire to PEI with Extra Cash
PEI is located off the eastern coast of Canada, situated 13km off the shores of New Brunswick and accessible by the Confederation Bridge or the Wood's Island Ferry. Our year round population is approximately 140,000 but grows close to 1 million in the summer including residents, summer residents, and vacationers.
PEI affords beautiful summers, lots of ocean and riverfrontage, parks to play in, all the shopping, restaurants and sports facilities you could want as well as access to hospitals and great PEI real estate.
For anyone in other parts of Canada looking for a place to retire, PEI real estate offers the best of all worlds. Small enough that neighbours know neighbours, large enough to still offer the amenities, PEI real estate is some of the best priced and best valued in Canada. You can live on PEI, the island that so many choose for their vacations, steeped in tradition and history, and with our less expensive cost of living, largely a result of lower housing costs, enjoy a better standard of living with more money to invest in income-producing investments.
As you retire you should be thinking of converting your biggest long term asset, your home, into income producing investments. You have lived in this home probably the best part of your life, raised a family there; but now they are gone and the house is usually too big. However you still need a place to live and you don't want to resort to renting. If you buy in the area you currently live you will have to substantially reduce the quality of home you live in or the neighbourhood in order to extract any money from your investment to re-invest in income-producing market investments
The alternative is to really change your neighbourhood, move from your province and reap the reward while still enjoying a great lifestyle - relocate to PEI. To give you an idea of the money that you can extract and re-invest in income-producing financial instruments consider that if you currently have a home in BC, the most expensive real estate market in Canada, you will be able to re-direct over 70% of the value of your home (because PEI's average home price is 30% of BC). Let's say that your home is valued at approximately the average BC home price of $450,000 - that means that you will have $315,000 to invest in income-producing assets. At a modest return off 5% that would net you an annual return of $15,750 per year or $1312.50 per month that will surely result in a better lifestyle here on the PEI.
Now if you live in Ontario, the average home price of just under $300,000 would mean that you could re-coup 47% of your investment. This would net you $14,100 per year or $1175 per month to make you retirement on PEI that much more comfortable. These are of course averages but I am sure that you can see the idea. Also taking your investment return at 5% is very conservative and represents investment security. That figure could be double or even more if you were willing to ride the market a bit more and accept some risk. This would mean that you could be into income figures in the range of up to $2500 per month.
The above scenario of course pre-supposes that you have paid off your mortgage. However this plan still brings benefits even for those who owe money on their current home. Even for those who owe too much to actually re-coup money for investment purposes, selling your current home and moving to PEI could result in reducing or eliminating your mortgage. That could be a saving of a thousand or more dollars per month. Money saved is the same as money earned and will still result in a better lifestyle.
So why not call a local PEI realtor and begin the search for your PEI real estate. With homes starting in the $50K's there are lots of opportunities for everyone. While retiring here is a great option, I also want to suggest that this is a perfect place for new couples and young families. You can get into the real estate market here while you might not be able to in other provinces. PEI is a safe place to raise kids!
PEI affords beautiful summers, lots of ocean and riverfrontage, parks to play in, all the shopping, restaurants and sports facilities you could want as well as access to hospitals and great PEI real estate.
For anyone in other parts of Canada looking for a place to retire, PEI real estate offers the best of all worlds. Small enough that neighbours know neighbours, large enough to still offer the amenities, PEI real estate is some of the best priced and best valued in Canada. You can live on PEI, the island that so many choose for their vacations, steeped in tradition and history, and with our less expensive cost of living, largely a result of lower housing costs, enjoy a better standard of living with more money to invest in income-producing investments.
As you retire you should be thinking of converting your biggest long term asset, your home, into income producing investments. You have lived in this home probably the best part of your life, raised a family there; but now they are gone and the house is usually too big. However you still need a place to live and you don't want to resort to renting. If you buy in the area you currently live you will have to substantially reduce the quality of home you live in or the neighbourhood in order to extract any money from your investment to re-invest in income-producing market investments
The alternative is to really change your neighbourhood, move from your province and reap the reward while still enjoying a great lifestyle - relocate to PEI. To give you an idea of the money that you can extract and re-invest in income-producing financial instruments consider that if you currently have a home in BC, the most expensive real estate market in Canada, you will be able to re-direct over 70% of the value of your home (because PEI's average home price is 30% of BC). Let's say that your home is valued at approximately the average BC home price of $450,000 - that means that you will have $315,000 to invest in income-producing assets. At a modest return off 5% that would net you an annual return of $15,750 per year or $1312.50 per month that will surely result in a better lifestyle here on the PEI.
Now if you live in Ontario, the average home price of just under $300,000 would mean that you could re-coup 47% of your investment. This would net you $14,100 per year or $1175 per month to make you retirement on PEI that much more comfortable. These are of course averages but I am sure that you can see the idea. Also taking your investment return at 5% is very conservative and represents investment security. That figure could be double or even more if you were willing to ride the market a bit more and accept some risk. This would mean that you could be into income figures in the range of up to $2500 per month.
The above scenario of course pre-supposes that you have paid off your mortgage. However this plan still brings benefits even for those who owe money on their current home. Even for those who owe too much to actually re-coup money for investment purposes, selling your current home and moving to PEI could result in reducing or eliminating your mortgage. That could be a saving of a thousand or more dollars per month. Money saved is the same as money earned and will still result in a better lifestyle.
So why not call a local PEI realtor and begin the search for your PEI real estate. With homes starting in the $50K's there are lots of opportunities for everyone. While retiring here is a great option, I also want to suggest that this is a perfect place for new couples and young families. You can get into the real estate market here while you might not be able to in other provinces. PEI is a safe place to raise kids!
6/01/2009
Ensure Financial Security For Your Old Age With A Texas Reverse Mortgage
Retirement brings with it not just a sense of insecurity but financial worries as well, because all of a sudden the regular inflow of income comes to a halt. The senior, retired citizen might have made many sound investments during his active service life but in most cases these investments take time to be converted into liquid cash. It is therefore, a cause for worry in case you are a senior, retired citizen of America and you need instant cash at a short notice. However, homeowners in Texas can have it easy if they are retired and fall into the age group of sixty five or above. The Texas reverse mortgage scheme makes it possible for any homeowner in Texas to put up their property for a mortgage and solve all their financial requirements without breaking into their investments.
A Texas reverse mortgage is the most feasible way to raise funds when you need them. The house owner who puts up his house for mortgage can continue using the property for his residential purpose for as long as he wishes. Also, the loan amount for the Texas reverse mortgage need not be paid back by the borrower as the house itself repays the loan through its sale. So the borrower need only pay the regular costs and charges associated with his house like that of house tax and cost of repair and maintenance. The ownership of the mortgaged property remains with the house owner till the very end or unless he decides to sell off the house. Even when the house is sold off by the owner, first the reverse mortgage loan needs to be repaid from the sale proceeds itself, before the owner or his heirs can claim any share of the proceeds.
The burden of the Texas reverse mortgage does not pass on to the heirs of the homeowner as the house itself is security enough for the lender. Also, a property that has been put up for reverse mortgage can be re-mortgaged again, provided that the mortgage was the first of its kind loan on the property. The borrower also gets the benefit of choosing the mode of payment of his loan amount. He could choose to get the entire loan amount as a lump sum or in monthly installments from the lender. Most of the retired, senior citizens prefer the monthly installment form of payment as it ensures a regular inflow of income for the household even after the retirement of the homeowner.
So if you are a retired, senior citizen who owns a house in Texas, then Texas reverse mortgage may be the most feasible option for you to raise cash. It not just enables you to get access to ready funds but by securing the roof over your head for your lifetime, it gives you a tremendous sense of financial security and peace of mind. An individual who has lived his entire life with dignity and self respect would not like to take the financial help of any family member or friend and thus the reverse mortgage helps him lead his life post retirement in the same way.
By: Simon Lowa
A Texas reverse mortgage is the most feasible way to raise funds when you need them. The house owner who puts up his house for mortgage can continue using the property for his residential purpose for as long as he wishes. Also, the loan amount for the Texas reverse mortgage need not be paid back by the borrower as the house itself repays the loan through its sale. So the borrower need only pay the regular costs and charges associated with his house like that of house tax and cost of repair and maintenance. The ownership of the mortgaged property remains with the house owner till the very end or unless he decides to sell off the house. Even when the house is sold off by the owner, first the reverse mortgage loan needs to be repaid from the sale proceeds itself, before the owner or his heirs can claim any share of the proceeds.
The burden of the Texas reverse mortgage does not pass on to the heirs of the homeowner as the house itself is security enough for the lender. Also, a property that has been put up for reverse mortgage can be re-mortgaged again, provided that the mortgage was the first of its kind loan on the property. The borrower also gets the benefit of choosing the mode of payment of his loan amount. He could choose to get the entire loan amount as a lump sum or in monthly installments from the lender. Most of the retired, senior citizens prefer the monthly installment form of payment as it ensures a regular inflow of income for the household even after the retirement of the homeowner.
So if you are a retired, senior citizen who owns a house in Texas, then Texas reverse mortgage may be the most feasible option for you to raise cash. It not just enables you to get access to ready funds but by securing the roof over your head for your lifetime, it gives you a tremendous sense of financial security and peace of mind. An individual who has lived his entire life with dignity and self respect would not like to take the financial help of any family member or friend and thus the reverse mortgage helps him lead his life post retirement in the same way.
By: Simon Lowa
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