If you want to take a home mortgage, you must have clear estimation about how much money you have and how much you can spend on repaying a loan. The repayment money should include the principal amount and the rate of interest on home mortgage. The amount of money to be repaid depends on what your payment terms and period are. It can be paid on a monthly, bi-monthly, half-yearly or yearly basis. Mortgage calculators will be of great use in calculating all these.
Depending on the type of home mortgage one wants to choose, there are different calculators to him with calculations. There is one type of mortgage calculator with which a buyer can decide how much he can afford for a house. In this, there are two types one will help him decide price of house is with in his range and the other one will help him know how much down payment he will have to make. This will allow him to decide on what type of real estate is ideal for him and also how much he has to save up for a down payment before applying for a home mortgage.
Another type is the mortgage calculator to help a person consolidate all non-mortgage debts. This type of mortgage calculator is further sub-divided into 3 categories one to help him consider the option of merging non-mortgage and mortgage debts into one consolidated amount; another to help consider a refinance option of taking another home loan or by cash out and the third for those who have 2 existing mortgages and are consider ways of paying off the older mortgage.
Popular mortgage calculators are those that can be used to calculate each type such as fixed arm mortgages, adjustable arm mortgages, flexible amortizations etc. There is one type of mortgage calculator which will help the borrower calculate how much he can save by paying extra for the principal amount. This calculator varies depending on the mode of payments like bi-weekly, extra monthly etc., The refinance mortgage calculator is very another popular one for those who want to whether refinancing a property would fetch them more money in the long run. This again is classified in two depending on the refinance option a borrower wants to go for.
The insurance calculator helps the borrower know how many insurance premiums he will have to pay for the mortgage. The amortization mortgage calculator is used for calculating tax savings on interest and property appreciation. There is even a mortgage calculator that will help the borrower compare any two different mortgages and choose the better of the two that will suit him. For example one make comparison between adjustable and fixed rate mortgages or between government and private loans.
Fees and paying points add a lot to the mortgage amount being repaid. There is a mortgage calculator exclusively to calculate this amount for both FRM and ARM. Another mortgage calculator is used to determine which mortgage is more feasible, whether short term or a long term. All these mortgage calculators are available exclusively on the websites of lending institutions. Any borrower can use these calculators free of cost.
To choose the best home mortgage, you have to:
make an estimate of your current and future financial situation
study financial journals and see the interest rate trend
know how much money you can afford to pay as down payment for the house which depends on how long you plan to live in it.
know various types of mortgages available
decide which program will suit your financial position in the long run
To the novice, these many mortgage schemes, mortgage calculators and their uses will look quiet confusing in the beginning. Which type of mortgage requires which type of calculator? Which lending institution to approach?-these are a few important questions which any newcomer find it difficult to answer. Patience and long term study of the real estate market is very important before getting into it. A real estate broker can be very useful in guiding you through the entire process of selecting the best home mortgage for your purpose.
Article by John Hoots of Chicago, who is a specialist in real estate investments. For more information on Chicago home loans, visit his site today.
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Easy, quick, complete, correct GIPS compliant Modified Dietz, Large Cash Flows Geometric Linking, and Daily Valuation investment portfolio performance calculation methodologies.
Most Americans are carrying lots of debt. Giving extra money to balance the budget without a commitment by the government to cut expenses, by say 10% across the board, would be an invitation to lawmakers to find ways to spend more. I must balance my own budget by reducing expenses, as I can't increase my revenue, the government must do the same!
Cute house….
Start saving now…. you will need to come up with first months rent and a security deposit that can be as high as 2 months worth of rent. Add to that money you will need to turn on phone, utilities, garbage, cable and of course… you will want to furnish this house. A landlord will want proof that you have a job and that you can afford this rental or else that your parents are able to pay the rent for you.
Your parents will have to agree to this move because even at 16…. you can't just move out on your own. A landlord will not rent to minors and that means your parents will have to co-sign for the rental, etc. 2 kids in high school and one in college renting a house together… sounds like the stuff T.V. shows are made off. Unfortunately reality is a different story. You might want to do some research in regards to becoming emancipated… otherwise chances are high that authorities will step in and send you into Foster Care because by law… you could be considered run-a-ways and the moment you two kids try to sign yourself into High School questions will be asked and the school might not like the answers…
Your sister will be 18 and eligible…. Eligible for what? she will need an income and why would she be allowed to adopt two 16 year olds that all the sudden decide they want her as her mother?!!!
It does not work that way. In order to adopt you there would have to be a critical need for that situation. (As in your parents both died in a car crash and your older sibling takes on the responsibility for you and can show that she has the means and maturity to raise two 16 year olds).
Actually only one… your friend is not related to your sister and it would take a huge amount of money to adopt her. Adopting children is not something you just go out and do… Even if her parents sign papers that they don't mind… guess what… child protective services will mind and assign a Foster Parent and chances are Nill they will let your sister adopt this teenager when your sister is barely 2 years older than her.
Interesting program.
will you help me all the way until i retire?
I don’t consider myself a sophisticate investor, but a fluent investor already. However, thre are few pointer here that I need to take note. Thank you.
no disrespect intended are you just being rhetorical? but if you are the level of Director and and do not know the answers to these questions you should reflect on how you managed to have that position
I’m gonna try your program now.
BB,
No doubt about it, you've got a point there! But it's not really spending money that's the problem.. It's the loaning of money.
You see there is no "Money".. There hasn't been since The Federal Reserve Act of 1913. "Money" is clearly defined in the Constitution as being only Gold or Silver coin. The paper money we used prior to 1913 was redeemable on demand for it's face value in Silver. Today what we have in our pockets is a "Federal Reserve Note"… A note of debt.
What we call money today is invented out of thin air primarily by debt in the form of loans. I cant go into detail in this forum but here's the basics..
When you go to a bank and borrow $20,000.00 to buy a car, (or anything else), you sign a promissory note, (the loan papers), before you get the check.
What happens here is that the bank takes your promise to pay, accepts it as a deposit then rights a paper check for that amount. You then take that paper check to your bank and deposit it.
Think about it! The bank didn't "Loan" you anything. The funds for your car were invented out of thin air right there before your eyes. They didn't go into the vault and give you 20K from their assets did they… They invented the "money" in the from of a check which they drew against an IOU that you gave to them.
Now on an even more interesting note, since the bank didn't actually loan you anything and therefore have no risk whatsoever in the transaction. Have they committed fraud against you? And are they entitled to repossess your property if you don't repay that which they did not lend you in the first place?
But that's a subject for another discussion.
This is how money is created today. So when you hear that the banks have to start loaning money again, This is why! So that money can continue to be created and so that the cycle can continue.
It's not the spending of money that is driving our economy, it's the creation of money by debt and lending that's got us in this mess. And, sadly, this mess will continue to get worse so long as we continue with the fractional reserve lending system.
If that's not depressing enough, think about this… When the banks do start lending again they will be under a great deal more scrutiny from the government, right.. In the mean time money has dried up are people are out of work. That means that our credit ratings are going to be in the dumper.
When the lending does start up again, we won't have good enough credit ratings to qualify for the loans.
Round and round we go.
Sorry for the length of the answer here but it's a hot button for me…
God Bless
Micah
1.c
6.a
7.d
8.c
9.b
10.c
11.d
12.b
13.b
14.c
15.d
16.a
17.d
18.c
19.a
20.c
the time it took you to type all this stuff up would be plenty if you used your brain to think about coming up with the solution.
honestly, all the info is given for you to do simple adding & subtracting.
1. Lisa is a single working mother with one child. The following is a breakdown of her expenses for this month:
Assuming these are Lisa’s only expenditures, calculate her total expenses for the month. (1 point)
$2950
(everything she spends)
2. Assuming these are Lisa’s only expenditures, calculate her discretionary expenditures for the month. (1 point)
$950
dbaby-sitting (so she can go clubbing or biking on weekends)
dcell phone: (including overages)
dclubbing (cover charges, drinks, etc.)
dmotorcycle payment (recreational use)
drestaurants
dsatellite TV
3. Assuming these are Lisa’s only expenditures, calculate her monthly fixed expenses. (1 point)
$1800
fcar payment (daily use)
fchild care (so she can work)
frent
fmotorcycle payment (recreational use)
fhome phone
fsatellite TV
felectricity
fnatural gas
4. Which of the following may be a discretionary expense that is not included on Lisa’s list? (1 point)
gasoline (weekend motorcycle trips)
This transportation is not work- or child-related. She doesn't have to do it.
5. The following is a breakdown of Lisa’s income for the month:
gross salary $2500
net salary $2000
possible bonus from work $500
child support $800
What is Lisa’s current monthly income? (1 point)
$2800
You cannot count on the bonus. Net is what she takes home and can spend. Add the child support to that.
6. Based on Lisa’s monthly income and the expense report given above, we can say that Lisa is living (1 point)
in the red
$2800 < $2950
7. Which of the following is a realistic strategy that would help Lisa to balance her budget? (1 point)
Switch from satellite TV to basic cable (which is cheaper), or local television via antenna (which is free).
This will save $100 per month.
8. Based on her current spending habits and income, which of the following is true of Lisa’s financial situation? (1 point)
in an average month, she has no money to put into savings, and is going deeper into debt each month
9. Lisa is considering replacing her living room set with a new one. The furniture store is offering a zero down, zero interest financing plan. Which of the following is likely true? (1 point)
all of the above
10. “Living within your means” means: (1 point)
* spending only as much money as you earn every month
* having a comfortable amount of savings left over after fixed expenses and discretionary income
I'm not sure which is true according to definitions given in your class. Your means are what you earn. Certainly the first is true. The second is possibly true.
Save A LOT of money… go AMD for sure. Why buy a processor that cost 2 times as much? Gaming doesn't need all that CPU horsepower unless you were Quad firing HD 5970's or some ridiculous thing like that.
If Gaming is your goal… Budget priorities should be 1. Graphics, 2. Power Supply, 3. CPU… etc
Why SSD? They are amazingly fast, but Amazingly expensive and AMAZINGLY small.
Budget Should be:
CPU: 200
Video Card: 400 (recommend HD 5870 at this budget)
Cooling: 0 (umm… why overclock when you don't have to?)
Motherboard: 150
HARD DRIVES 150
Memory: 110
Chassis: 100
PSU: 150
If you think about it in terms of performance vs $$… With $100.00 more spent on graphics and $400.00 less on the rest of what you propose, I could beat the gaming performance significantly of your budget. For gaming, money should be spent on graphics, simple as that.
Great video!!!