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Best Templates for Pay Stubs

I have operated my own business for a few years now, but up until recently, it was a one man show. However, I have had increasing volumes of business lately, and that forced me to hire some more employees. That’s not necessarily a bad thing, but I don’t really know much about being a boss, … Continue reading “Best Templates for Pay Stubs”

I have operated my own business for a few years now, but up until recently, it was a one man show. However, I have had increasing volumes of business lately, and that forced me to hire some more employees. That’s not necessarily a bad thing, but I don’t really know much about being a boss, beyond being my own boss. I am looking for a pay stub template that I can use in order to give pay stubs to my employees, because I have to figure out the whole accounting of paying my employees and making sure of all of that is right.

It is a bit more effort than I would like to spend, and I didn’t really see this business taking off to the point where I would need to hire people to help me to get things done. Of course, I cannot get as much done myself now that I am a boss because there is so much extra work that is involved in being a boss. Continue reading “Best Templates for Pay Stubs”

Adjustable Rate Mortgage Rates – There is More to Shopping For an ARM Loan Then Just Interest Rates

If you are in the market for a now home mortgage to refinance your current loan or to buy a new home and are thinking about using an adjustable rate mortgage there are a few things you need to know about these loans. While it is true that when you apply for an ARM loan you fill out the same paper work as a fixed rate loan,but there are some specifics that if you know about can help you get the best adjustable rate mortgage rates!

Three Things You Need To Know Before Your Shop For Your Loan!

The Index Of The Loan – The index of your loan tells you what financial market your loan is tied into. This will come into play once the initial fixed rate period passes by and your loan resets, the index will then be added to the loan margin to determine your new interest rate. The most frequently used indexes are the MTA and the LIBOR index, they both offer unique positives and negatives so consult with your lender to determine the best one for your goals and finances!

Your Loans Margin – The loan margin is a base number that is used to figure your loans interest rate once it has reset. The margin will be added with the index to figure your new interest rate. Obviously the lower the margin of the loan the lower your adjusted rate will be. So make sure you not only question the actual interest rate but also the margin as well,

Loan Caps – The very nature of ARM home loans is very volatile, your loan rate will be changing very often and many times it will be changing to a higher amount. To protect you from a increase that could be devastating financially the lender will put rate caps in place. These caps limit the amount the rate can change on the first adjustment and also how much the maximum interest rate can be on your loan.

Where Can I Learn More About ARM Mortgages

To learn more about the options you have when trying to decide to on an Adjustabel Rate Mortgage [http://www.adjustablemortgageinfo.com/] visit [http://www.adjustablemortgageinfo.com/] where you can read all about adjustable mortgages and make an informed decision for yourself and your family!

What Made You Decide to Get a Fixed Interest Mortgage Rate?

You may experience confusion in choosing between fixed interest mortgage rate and variable systems. This article below can help you in giving an idea to make into your decision.

If your mortgage fixed rate, repayments will be more expensive but your budget will be safe and fixed, regardless of what is happening to interest rates in general. For instance, if you take a loan to say with 5% interest fixed for 5 years “and even if mortgage rates to fall to 1% or 20%, you will still be charged 5% for next 5 years. This sort of” betting ” you enter into. If mortgage rates rise to 20%, you win, because you still have to pay 5%. If they are down to 1%, then you lose because you are still paying them 5%.

When you are paying the fixed rate, you will not pay your mortgage off early, you will not get a discount because interest rates have declined, you will still be in “fixed” interest.

Depending on how much in debt you are, how much the interest rate you pay at this time, the length you have left to run until the end of 5 years and the number you will be charged a penalty for ending your agreement. You are able to change your mortgage to a variable one, especially if you prefer a new security, lower, fixed rate mortgage. Only in this way, by using the extra money would you have paid, you may be able to pay off your mortgage earlier.

Noteworthy is by considering your budget and ask yourself whether you are able to really afford to risk attending a variable rate (i.e., if interest rates go up, you can pay the mortgage, or will you fight).

With prices at all-time low point would be a shame to not lock it in. With all the ups and downs that the market will experience during the next 30 years mortgage you know you may not pay a big difference but with a variable rate there will be some months you may have extra finances and others where you are struggling just to make a payment.

Adjustable Rate Mortgage Rates

Anytime you are shopping for a new mortgage and considering using an adjustable rate home mortgage you have to know how to shop for your mortgage the right way to make sure you get the lowest adjustable rate mortgage rates and best deal possible. While adjustable rate mortgage loans are not that different from securing a normal fixed rate loan there are some things that you need to consider before you sign any papers.

The Loan Margin – When shopping for an adjustable rate home mortgage ask your mortgage broker or lender what the margin of the loan is. The loan margin is important because it will directly affect your interest rate is you are unable to refinance your loan before it resets. The margin is added to the index to determine the new interest rate so never forget to ask what it is.

Rate Caps – Any adjustable rate mortgage loan has caps in place to protect the borrower from payments jumping to much or from the loan continuing to adjust. These are your periodic caps which limit the amount your loan can adjust each period, these are normally set at one or two percent. You also have the loan ceiling, this limits the mortgages maximum interest rate. It is wise to look at loans with low periodic caps and low ceiling rates, because you never know if something unforeseen happens and you will have your adjustable rate home mortgage longer then you thought.

The Loan Index – All adjustable rate mortgage loans are tied to a financial index. When the fixed rate period of your ARM ends the index is added to the margin to determine the reset adjustable rate mortgage rates. The common index’s are the LIBOR and the MTA. Both offer positives and negatives so ask your mortgage lender to explain their differences and settle on the index that best fits into your situation.

Is it Time to Fix My Mortgage Rate?

Given the turbulent times we have experienced in the housing market, it’s now time to consider this – is it time to fix my mortgage rate, and are we near the bottom for the housing market?

I will answer the housing market question first: If you had asked me three months ago I would have said absolutely no chance. Here I am only weeks ago saying that the economics didn’t support a bounce but there are a number of factors that look very promising.

The last housing market correction in 1989 took three years of falling prices before there was a turn. Indeed someone buying in 1989 would have been in negative equity for nearly seven years.

The Bank of England is mindful of that and not wishing to make the same mistake again, they have been very aggressive with interest rate policy and quantitative easing. It appears to be working.

Since 2003 I have been cautious on all property, but since the Bank of England bottled it in 2005, we have advised against property purchase on the basic grounds that it didn’t offer a sustainable return over a risk free asset – cash. This was a clear sign to get out.

Whilst logic says the housing market needs to fall further, often logic has no brakes for sentiment.
With interest rates at such a low level, government incentives and grants to assist first time buyers, and unemployment not hitting anywhere near the expectations, buyers are returning in abundance.

Interestingly our enquiries for mortgages are higher now than the peak of the mortgage market. Each of the last three months have been 100% greater than the average, and June looks like it will be over 200% better.

This is a clear support level for house prices through extra demand and it’s very possible the 1989 issue has been averted. Good news at last.

Should you fix your mortgage rate? That’s an interesting one. Last week most lenders withdrew their fixed rate offerings and replaced them with higher rates. This is in anticipation that rates will begin to rise, which is peculiar, given that we have benign inflation. In fact the retail price index is still at -1.1%.

Either way the anticipation is that rates will rise and fixed rate mortgages are now c20% more expensive than they were last week. Should you fix now? It very much depends on what your current mortgage deal is. For example, some lenders set their own standard variable rate and that is typically around 4.8% today whilst others track the base rate and that’s down at 0.5%. For some it would be quite a leap to hop from 0.5% to today’s typical fixed rates. The typical fixed rates are: two year 3.98%, three year 4.99% and five year is 5.64%.

And so it’s a much more difficult decision for you if you are on a lower tracking rate as above but a sure fire winner if you are on a standard variable of around 4.8%.

Much also depends on the impact of quantitative easing. If the extra money in the system bites, inflation is a real risk and interest rate rises will be the quickest way to slow down the economy.
With that in mind, a three year deal at 4.99% looks like a bargain with the safety of knowing what you will be paying for the next 36 months.

The better rates are still being offered to those who borrowed less in relation to the value of the property (i.e. loan to value). For example if you are borrowing less than 75% loan to value you could have a two year fixed rate at 3.09% whereas if you are borrowing at 90% loan to value, the best two year fixed rate is 5.99% – almost double!

Finally be careful when you are looking at mortgage rates and ensure you look at all the underlying fees as they can soon mount up.

Source of figures: Trigold as at 19/06/09

Peter McGahan and Worldwide Financial Planning:

Peter McGahan is the Managing Director of Worldwide Financial Planning – FT Award winning Independent Financial Advisers. Peter writes for many national and local press publications and is widely respected as an expert in personal finance.

Worldwide Financial Planning specialise in the provision of expert one-to-one advice in the areas of Mortgage, Business Finance, Investment, Pension and Retirement Planning and Inheritance Tax.

Peter McGahan is an Independent Financial Adviser and the Managing Director of Worldwide Financial Planning Ltd who are authorised and regulated by the Financial Services Authority. ‘The FSA does not regulate Credit Cards, Will Writing and some forms of mortgage and Inheritance Tax Planning.’ Information given is for general guidance only, and specific advice should be taken before acting on any suggestions made. The above represents the personal opinions of Peter McGahan. All information is based on our understanding of current tax practices, which are subject to change. The value of shares and investments can go down as well as up.

Fixed Second Mortgage Rates

Have you ever heard about fixed second mortgage? Most of the people who know about it are those who complain about the rising payments from their home equity lines of credit that are attached to every borrow you make.

Whether you have a bad credit card or not then you will still be able to qualify to borrow. The only difference is that if you have a bad credit card then you will only get a lesser percentage compare to the one who has a good credit card.

It would be a hundred percent and a hundred and twenty five percent respectively.

The one thing about fixed second mortgage is that it acts as a lien to the first mortgage.

It is mostly done when one is in dire need of instant cash. The thing that leads to people borrowing a second mortgage loan is that the first mortgage loan has low interests.

In that one does not really benefit. It is there fore a big step that one would take and would need one to be wise.

This is because it would take home equity loans and would result to one being lent to the money at a hundred percent cost of the property. This is there fore a great risk and should be taken after one has thought carefully about it.

For one to take a fixed second mortgage it means that may be they were unable to pay their bills or an outstanding debt.

When choosing what type of second mortgage one would take there are three options: a traditional second mortgage, a home equity loan and a home equity line of credit.

Among the best companies that would be best to deal with your fixed second mortgage is Nationwide Mortgages. They are considered to be the best as their interests are at a fair level.

They are never application fees for or any obligation for researching rates. It is the best when it comes to refinancing and debt consolidation.

If you may know any one who is in search of a company to solve their finances then a turn to Nationwide Mortgages would be the first step to solving their problem.

But the best and wise thing to do when it comes to getting a second mortgage is to shop around first. It can even be compared to loans with about fifteen to thirty years fixed rate. And the thing is it could be variable or just interest only.