A home loan can help you own your dream home

Written by Paul Heath


Owning your dream home need not just be a dream. You can own it with a home loan offered by any number of financial institutions to help meetrepparttar shortfall betweenrepparttar 138468 purchase price ofrepparttar 138469 home andrepparttar 138470 down payment that you provide.

The two types of home loans or mortgages that you need to know are:

Fixed rate mortgage: Home loans of this type carry a fixed rate of interest throughoutrepparttar 138471 term ofrepparttar 138472 loan. Your monthly payments remain constant making budgeting easier. Adjustable rate mortgage (ARM): In this type of mortgage, you monthly payments change with each change inrepparttar 138473 interest rate. ARMs have a lower interest rate than fixed rate loans, thus, qualifying you for a larger amount.

Tips for obtaining home loans

•Availrepparttar 138474 services of a mortgage broker who can use established relationships to negotiate a favourable interest rate. •Pre-qualify your mortgage so that you have a jump start towards acquiring your home as you will knowrepparttar 138475 amount that is available to you for makingrepparttar 138476 purchase. By pre-qualifying you can lock inrepparttar 138477 interest rate for a certain period. Ifrepparttar 138478 interest rate falls, you getrepparttar 138479 lower interest rate. The interest rate will berepparttar 138480 same, even if it rises duringrepparttar 138481 pre-qualifying period.

How to protect your life insurance policy while going through a divorce

Written by Matt McWilliams


Expert advice on protecting your assets in difficult times

Life insurance, more than most things you buy, relates torepparttar circumstances of your life. You buy life insurance to protect your family from financial loss stemming from your death. You tierepparttar 138400 amount of your life insurance torepparttar 138401 money your family will need to provide an income, pay off debts, put children through college and cover financial commitments.

But what happens to life insurance when you’re about to dissolve your marriage? How do you deal fairly with a soon-to-be ex-spouse, yet still make sure you have coverage forrepparttar 138402 future? Is there a way to provide for adult children of a previous marriage without going broke -- especially if you have children through a second or third marriage?

Here are a number of considerations you should be aware of:

- Don’t assume that your insurance agent or company knows about your circumstances. If you don’t change your beneficiary, your former spouse may receiverepparttar 138403 proceeds of your policy upon your death. Ifrepparttar 138404 designation simply reads, “husband ofrepparttar 138405 insured” or “wife ofrepparttar 138406 insured,” and there is no new spouse,repparttar 138407 secondary beneficiary receivesrepparttar 138408 proceeds.

- You may be able to transfer ownership rights ofrepparttar 138409 policy as part of a property settlement or to ensure continuation of alimony payments. Your ex-spouse may not press as hard for more support or a greater slice of an ongoing pension if he or she remainsrepparttar 138410 designated beneficiary on a permanent life insurance policy. Of course, you need to ensure that your policy remains a valuable asset by keeping up premium payments.

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