Reap Huge Benefits from USDA Home Loans

If you are looking for USDA home loans, it is highly recommended to get in touch with a reliable provider. These home loans have helped a lot of people with low budge to buy a home of their own. These home loans are your perfect answer to buy a home with zero down payment. They work the best for low income based people. It does not matter whether you are having trouble paying the mortgage, the experts offer break with subsides. Apart from buying, you can also opt for this loan to renovate, or even for repairing.

USDA home loans – What does it mean?

The United States Department of Agriculture (USDA) has set certain guidelines for the program. This is only the reason why it is called as the USDA rural development loans. With the help of this, you stand to lower the cost for the mortgage home buyers. It works for both rural as well as suburban areas. It is one of the best and effective programs in the market that has gained immense popularity among home buyers. It has helped a number of people to buy the house of their dreams. Given below are some of the advantages offered by these loans:

1. People living in the selected rural areas are eligible for the rural home loans. It does not matter whether you already have a home you can opt for these loans.

2. The rural home loans offer you to buy the house with no down payment. This helps you to purchase the house at most reasonable prices.

3. It offers zero down payments. The no money down feature has actually helped many people to buy a home easily and effectively.

4. These rural home loans have low mortgage insurance requirements.

5. These loans can be used to buy a new house, renovate the house or even repair the properties.

6. The loan is completely based on the appraised value of the property and not the sales price.

7. It further helps you to get the best and energy efficient homes.

8. It offers loans to people who has low credit, no credit or limited credit.

9. It has no loan limits.

Apart from the above mentioned benefits, it also offers tons of advantages to home buyers. Before you apply for loan ensure you meet the needs such as clean credit history, income proof, homes to be located within the USDA areas, and more.

A reliable provider is a firm believer of customer satisfaction and offer great rural loans. They offer their services in all of Oklahoma, Texas, Kansas, California and more. These loans are specifically designed for moderate income people that are living in the rural areas. Furthermore, the experts will even customize the home loan plans according to your needs. The interest rates of these processes are low and affordable. It is extremely easy to apply for this loan. In case of any queries, contact the professional staff as they are available round the clock. Browse through the site to know more about the loans and services.

Home Loan Programs: How Recent Medical School Graduates Can Qualify

Graduation is an exciting time for any college graduate, but for those graduating medical school, the excitement is an understatement. For recent medical school graduates who are getting ready for new employment, the idea of looking for a home isn’t exactly easy. But with the help of loan programs specific for medical school graduates, the process becomes a little easier. In Utah, there are lenders ready to help medical school graduates in the country get the financing they need to purchase a home.

Available Options

Today there are mortgage programs tailored specifically for medical school graduates and physicians to meet the needs of doctors who are just starting out in their career. A physician home loan is an excellent option for graduates to obtain a home mortgage. This program typically presents itself with a low down payment of 10 percent or less, with no private mortgage insurance required and 100 percent financing on certain loan amounts. Generally, physician home loans are offered with a 30-year fixed rate, or a five- or seven-year adjustable rate.

Other options for physicians wanting to receive a home loan include: FHA loans, VA loans and conventional mortgages with different down payment rates. A conventional loan with 20 percent down may be a better alternative for home buyers as it offers more options and flexibility, though requires a large sum of money to be put down.

Requirements

Typically, a borrower will be required to provide an employment contract from your practice instead of pay stubs. This can be helpful to doctors who are relocating for their first job after graduation and want to be moved in prior to starting work. Some banks may also a borrower to set up a savings/checking account with their institution prior to creating the loan.

One important aspect to remember about these loans is although they offer many advantages to medical school graduates, they also typically involve a higher interest rate, fees or points.

Should I apply for a home loan during residency?

It is advised to a student in a residency program to wait until the medical student’s program is finished before applying for a home loan because many residents will end up relocating after three to five years when their program finishes, leaving a significant amount of debt to be paid and a home to sell, if needed.

As a medical school graduate, consider the several financing options available prior to purchasing a home of your own for you and your family.

How To Get Your Solar Energy Tax Credit

There are a lot of good reasons to go solar for your home or business. Many Bay Area homeowners have a solar system installed to protect themselves and their families against rising energy rates. While it is difficult to forecast exactly how much electricity costs will rise, or how quickly, one thing is certain – they will continue to go up. Conversely, an investment in solar for your home or business not only decreases or even entirely eliminate monthly electricity costs, it can also increase the property value of a home and lower the operating costs of a business. A third and very important financial incentive is the federal government’s generous solar energy tax credit.

The solar energy tax credit allows a homeowner to reduce the amount of income tax that they would otherwise have to pay the federal government. This credit is good for 30 percent of homeowner’s investment in their solar system, including solar panels, a charge converter, battery, and inverter, but only for the next three years. The credit will drop to 26 percent in 2020, and 22 percent in 2021. After 2021, the solar energy tax credit for residential customers will be eliminated entirely. While there is a chance the credit could be extended, many homeowners considering solar are planning to install their systems within the next few years to take advantage of the credit.

For commercial businesses looking to go more green, they can qualify for up to 70% off with solar tax incentives. Not only will you qualify for a 30% Federal Tax Credit but you can accelerate the depreciation of your solar system over 5 short years. These tax incentives are equivalent to 60%-70% of the system cost, leaving you needing only 3-4 years of energy savings to recover your entire investment.

In addition to the financial benefits of the solar energy tax credit, many people choose to go solar because they feel solar energy is a more environmentally responsible solution. Solar energy is both sustainable and renewable. Solar energy provides a zero-emission way to power buildings, and appliances, heat water, and refuel electric vehicles. The more popular and widespread that rooftop or carport solar panels become, the more they reduce the load on coal-burning power plants.

With buildings accounting for 38 percent of all carbon emissions in the U.S., going solar can significantly decrease our carbon footprint. A typical residential solar panel system will eliminate three to four tons of carbon emissions each year-the equivalent of planting over 100 trees annually. Going solar is not only a great way to go green, but taking advantage of the solar energy tax credit – before it expires – is a great way to save some green.

Finding the Good Real Estate Deals

There are many ways to find good deals. Some of the best ways are quite simple. Remember, though, that the key to success in anything is persistence, and perseverance. The best way to start looking for good deals is right in your local newspaper. Look for properties that are for sale in the area that you have chosen to work in. Also look in the price range that is ideal for an investment. The best market is usually middle class, or slightly lower, or slightly higher. If you work in the high end market, those types of houses do not usually make good rentals. And if you work in the lower end, those properties may be difficult to sell, and are not the best neighborhoods to work in.

You can find out a lot about a property or an area just by reading the newspaper. The next step of course is to call and ask about the property. Always be prepared with a pen and paper. Some questions to ask would be:

A. Where is the property located?
B. What type of construction is the building?
C. What is the area zoned for?
D. How many bedrooms and baths are there?
E. Is there a basement or attic?
F. Is there a garage or a shed?
G. How many units does the building consist of?
H. If it is more than one unit, are the utilities separate, and who pays, the landlord or the tenant?
I. What type of flooring is inside?
J. How old is the roof?
K. What is the property size?
L. What is the square footage of the house?
M. What are the annual property taxes?
N. What condition is the house in?

Some ads in the paper or on the internet will be houses that are listed with a real estate agent. These are good ads to call on because you can learn a lot from a real estate agent, and they will have other houses to show you. That is the next best place to find good deals, through a good real estate agent. Try to find an agent who is familiar with investment property. If you find a good real estate agent who understands what you are looking for, it can be very profitable. There are a number of good reasons why you want to have a real estate agent as part of your success team. Experienced real estate agents generally have a lot of education and experience. One of the keys to success is to use other people’s experience, and other people’s education.

Agents are also good at negotiating. They are good to have as a buffer between you and the seller. They are knowledgeable about the neighborhood, and can help guide you with regards to pricing whether it be when submitting an offer or listing a property. They are usually on the cutting edge when it comes to market information. They can help you obtain valuable information you need when it comes to active, pending, and closed sales. They can give you valuable information such as how many days a property has been on the market, or how many bedrooms or bathrooms may be in a particular house. Agents are always networking, and sometimes an agent may find out about a house before it hits the general market. Real estate agents have access to the multiple listing service (MLS). This service has a world of information on properties that are currently active on the market, pending, or sold. This is all valuable information you will come to appreciate. A good real estate agent has capable negotiating skills, which will come in handy when submitting your offer.

How Can You Build A Bigger Pension?

Nowadays people are living longer so how you plan for your retirement is becoming more important.

This article will introduce you to six ways you can make the most from pension planning to build as large a pension pot as possible to enjoy in retirement.

1. Even after retiring you can still pay into a pension pot

After you stop working you can still pay into your pension pot. In fact, you can keep making contributions until you are 75 and receive up to 45% tax relief. Many people who retire still do part time or consulting work and these earnings can be paid into your pension if you wish. *Note: tax rules and the amount you receive in tax relief is subject to change and can differ depending on your individual circumstances.

2. If you switch job you don’t need to lose your pension

Many people think that if they move job they will lose their pension post. When you start a new job you will be asked if you wish to join the pension scheme – you should always take this option, even if it is only a small percentage of your income as the company will match your savings; effectively giving you more money. In order to manage moving jobs you should look to consolidate your pension savings into one pot. For more information about this you should speak to a financial adviser so you do not lose any benefits.

3. Pensions are free from inheritance tax

When you pass away your pension can be passed onto beneficiaries. As it typically sites outside your estate there is no inheritance tax to pay.

If you pass away under the age of 75, your beneficiaries can withdraw what they like from your pension and pay no tax. If you die after 75 your beneficiaries will need to be tax on any withdrawals made.

However, if you have converted your pension pot into an annuity then these rules may be different.

4. Make contributions as and when you like
Another common myth about pensions is that you must make regular contributions. Nowadays pensions are far more flexible and you are able to contribute when you like. You must however avoid gaps in paying National Insurance.

5. Start as early as you can
It is possible to start saving into a child’s pension using a SIPP which allows you to save up to £3600 a year.

6. You can delay your pension

It is not compulsory to take your pension from the day you retire. Instead you can delay your pension to leave to your children, or in some circumstances can take your pension early. Depending on your circumstances you may take your pension earlier or later. It is important that you have enough income to last the duration of your retirement so when and how you take your pension is an important decision. You should thoroughly review your options and seek advice and guidance where possible.

5 Reasons to Hire a Financial Planner

Balancing and planning out your finances can be a very difficult task for everyone. Life can throw anything at you, and it’s up to you to be ready to catch it. The same goes for your finances; you never know when an expensive emergency will arise. By hiring a financial planner, you will be better prepared to handle anything that may come your way. Here are five reasons to consider hiring a financial planner.

Determining your financial status: A financial advisor will help determine where you stand with your total income versus your debts. Together, you will be able to come up with a game plan to reduce the debts and improve your overall income for a validated savings account for emergencies.

Plan a retirement strategy: Are your retirement funds enough to live on with your current expenses? If not, you need to figure out how to invest more money into your retirement. In life, there are always unexpected expenses. It’s best to view your long-term financial goals and outside holdings into account to determine how much you should be investing towards your future.

Written provisions for child care: This is a topic that should determine the day your children are born. If you or your spouse die, it’s very important to have written provisions for their care. They are your number one priority, and together you and your financial advisor will determine what they need to have financially after you are gone.

Find investments for your wealth: Investments can be a great way to boost your financial status. But what investments should you invest in, so you don’t lose money? A financial advisor knows how to handle investments like stocks and other exchanges.

Determine a budget that’s right for your family: Is your monthly income less than your monthly spending? If so, there need to be improvements made to secure your finances and future for your family. A financial advisor will give you advice on how to stay on track and where your lifestyle needs to change to better your finances.

Understanding Solar Loan Rates

There has never been a better time for homeowners to go solar. But with solar tax credits set to expire, that opportunity could slip away. Fortunately, most solar companies offer an array of purchasing options for homeowners regardless of their budget or credit history. These include: easy cash purchases, solar leases, PACE (property assessed clean energy), solar loans at competitive rates.

Cash purchases deliver the greatest long-term savings and best return on the homeowner’s investment. Tax incentives alone allow homeowners to recover 30% of their system costs, and the energy saving will pay for the rest of the system in just a few short years with decades of free electricity on top of that. For added flexibility, cash doesn’t necessarily have to come out of savings, it can also take the form of a home equity loan that can be tax deductible.

On the other end of the spectrum, solar leases can offer all the energy-saving benefits of a cash purchase, with the difference being that the solar company owns the system on the homeowner’s roof. The homeowner simply pays a small monthly amount to “rent” their system. With easy 20-year financing terms are available, and a 20-year system guarantee this is an excellent option for those who want to keep their out-of-pocket costs to zero. Plus, when it’s time to sell, the solar lease can be assigned to the new homeowner – making the property that much more attractive.

PACE programs offer another smart option for those looking for solar with no upfront costs. The solar system is financed through the homeowner’s property taxes. It works like a loan, and still qualifies for the 30% tax credit. With terms up to 230 years, and a 30-year product warranty guarantee, no credit score requirement, and a loan that is transferrable to the new owner, the low monthly payments and immediate savings make this a very attractive option, quick and painless.

 

Sources of Finance | Types of Business Finance

Sources of Finance

There are basically three types of business organizations and for every sort of business organization sources of finance are really important to have. Through these sources of finance, business meets its basic and day to day needs. Sole proprietorship and partnership form of business organization are mostly run on small scale basis. They generally meet their fixed and working capital requirements from their owned capital. It is only the company form of organization, which is run on large scale basis. It requires huge amount of funds to purchase fixed assets, meeting day to day expenses of business and for modernization and replacement of machinery. Let’s discuss the major joint stock company sources of finance in detail.

Sources of Finance in Business

There are two major sources of finance for meeting the financial requirements of any business enterprises, which are as under:

  • Owners Fund
  • Borrow Fund
  1. Owners Fund

Owners fund is also called as Owners Capital or owned capital. It consists of the funds contributed by the owners of business as well as profits reinvested in business. A company cans raise owner’s funds in the following ways:-

  • Issue of equity shares
  • Ploughed back profits
  1. Borrow Fund

The second source of funding to a business is the borrowed fund. Borrowed fund consists of the amount raised by way of loans or credit. It is also known as borrowed capital. The borrowed fund is procured from the following sources;-

  • Debentures
  • Bank Loans
  • Loans from specialized financial institutions
  • Other long term financial institutions

Types of Business Finance

All businesses require an adequate finance. They need money for investment in fixed asset such as land, building, machinery etc. Once business is in operation, money is needed for Working Capital, such as purchase of raw material, payment of wages, utility bills etc.. A going concern also requires extra capital to cover a temporary cash flow crisis, or purchase new improved machinery or simply to expand the business. The financial requirements of a business, on the basis of time duration, are usually classified under three heads which are as follow:

  • Short Term Finance
  • Medium Term Finance
  • Long Term Finance
  1. Short Term Finance

Short term Sources of  finance is defined as money raises for investment in business for a period of less than one year, it is also named as working capital or circulating capital or revolving capital.

The purpose and amount of obtaining short term capital varies with the nature and size of the business. Generally the short term capital is required for meeting the day to day expenses of business such as payment of utility bills, wages to the workers, unforeseen expenses, seasonal upswings in business, increasing inventories raw material, work in progress and finished goods etc.

The various sources of short term finance are as under:-

  • Trade creditor open book account
  • Advance from customers
  • Installment credit
  • Bank Overdraft
  • Cash credit
  • Discounting bills
  • Against bill of lading
  1. Medium Term Finance

Medium term sources of finance are required for investment in business for a medium period which normally ranges from one to five years. The medium term funds are required generally for the repair and modernization of machinery, renovation of the building, adoption of new methods of production, carrying advertisement campaign on large scale in newspapers, television etc. The various sources of medium term finance are as under:-

  1. Long Term FinanceLong term sources of finance refer to the funds, which are required for investment in business for a period exceeding up to five years. It is also named as long term capital or fixed capital. Long term sources of finance are mostly required for the purchased of fixed assets, such as land, building, machinery etc. modernization and expansion of business. The amount of long term finance varies with the nature of business, size of business, nature of the product manufactured, the number of goods produced, and the method of production etc. The various sources of long term finance are as under:-
    • Equity shares
    • Issue of right shares
    • Debentures
    • Loans from industrial and financial institutions
    • Leasing
    • Ploughing back of profits