If you are thinking about buying a home, one of the first things to do is find out what price range you can afford. Getting pre-approved for home financing can determine the maximum price and loan amount that you can get, based on your credit scores, income, and down payment. A mortgage pre-approval can save time and effort in your home search, and tells others that you are ready and able to buy a home.
Here’s a Collection of Other Home Financing Tips:
Need flexibility on credit issues?
In addition to a low down payment, an FHA mortgage allows lower credit scores than conventional home financing. A bankruptcy only needs to be discharged for 2 years, and 3 years on a foreclosure.
Need payment choices for a tight budget?
Some lenders offers flexible mortgage terms with a 30 year fixed rate that gives you a payment choice each month for interest only or a fully amortized payment, which could help when money is tight.
Do you want an option for lower closing costs?
If you need to reduce your closing costs, you typically have the choice of decreasing the points by
Every business guru states that you should keep your personal finances separate from your business finances. And, we could not agree more.
However, separating your business life from your personal life should only be about monetary transactions. We all learn life lessons (knowledge) that not only work in our personal lives but can easily translate to our business lives as well.
Knowledge is power after all and if it can help get you get ahead in your business then it really does not matter where that knowledge originated from.
To that note, there are many personal finance tips that relate very well to managing the financial aspect of your business.
Let’s review a few of them:
1) What You Need vs. What You Want:
You may want a Lamborghini but know that it is not a good vehicle for a small, growing family – it’s not good on gas, has no room for groceries and cannot take the kids to soccer practice. It just does not make sense for you – even though you would really like to have it.
The same goes for our business. You may want that 50,000
One of the key principals of bootstrap financing is reducing your business start up costs. Make your own website and save hundreds – even thousands of dollars! If you are planning a new business, there is simply no question that you need an online presence. No matter what type of business you plan to start, a website is an absolute necessity. Why miss out on the over 220 million internet users in the USA alone? These web surfers enjoy the convenience of shopping any time of the day or night – and may be looking for a product or service just like yours!
Case in Point
When my husband and I started our janitorial company over 5 years ago, we were using large display ads in the yellow pages as our primary form of advertising. After wasting tens of thousands of dollars, we decided to take our business online. As a result, our business increased by 130% and our profitability went through the roof! Why? The main reason is that it is far cheaper to create, maintain and promote a website than it is to use some prehistoric forms of print advertising. Do keep in mind that one size does not fit all. There
In every aspect of life, individuals need some sort of help in organization. We need help in organizing our closets, our work schedules, our play schedules – even our children’s hectic programs. That’s especially true when it comes to personal finances. Personal finances are as important as making sure we keep ourselves healthy and strong. It helps to have a history of keeping things in balance, but if not, then the earlier we find out what we do know about our own finances, the better.
Obviously, there are many ways to manage your finances that will not only get you started on the right path, but help you continue its reality. Once there, you can actually see how well it will work for you. Being on the right path implies so much more than just knowing how to balance your check book once a month. It’s being able to secure a good routine that helps grow your finances and keeps you on the straight and narrow; that ‘s important if you plan on having a future without the added burden of money woes.
The way that this can be done include knowing up front what you
The most common question clients ask me about business purchase financing is about how fast we can secure them funding to get their business purchase completed. While there are many steps we (myself and the actual lender selected) must take from start to finish, my answer is “it’s all up to you.” This statement often catches people off guard but it is the absolute truth.
There are certain items you must have ready in order to start presenting “a transaction or deal” to potential lenders and financial institutions. Your quest for SBA business acquisition financing will be much faster if you have the following items ready.
* Past 3 years personal tax returns for all owners with 20% or more ownership (Federal Returns only)
* Personal Financial Statement
* For any other affiliate company with at least 20% ownership by an owner of applicant business you will need to provide the past 3 years corporate tax returns
* Signed Purchase Agreement
* Brief write-up about the business – possible “mini” business plan
* Past 3 years corporate tax returns of the business you are purchasing
* Past 3 years P&L and Balance Sheet of
Let me give you some personal finance budgeting tips to help you keep your budget on track.
1. Keep a track of your daily expenses. – This can be the hardest part of your personal finance budgeting. Maintain a ledger or a log book to track your daily expenses. This will help you to note down all the expenses without missing them.
2. Before going to any shop make a list of things that you need. Buy only things that you require. If you go to a shop without preparation, you may buy many unwanted things and this will in turn make yourself spend more. If you have a proper plan, you will not only save your money, but will also reduce the chances of forgetting things that you need.
3. Do not make impulse purchase. – In other words, do not go shopping for the sake of shopping. This is a phenomenon that takes place when you hang out with your friends. You tend to go to shops and buy things that amuse you. But in fact you may not need them at all. Avoid such