Prequalification? Tips For Understanding Mortgages

There are several advantages to getting pre-qualified for a home loan, which as many borrowers may not know, is different from being pre-approved for one. To pre-qualify a borrower for a home loan, mortgage lenders calculate their ability to make monthly payments which allows them to hand out safer loans; Getting pre-qualified for a home loan also allows the borrower to shop within their means when buying a home since they’ll already be aware of how much they’ll likely get from a lender. When you get pre-qualified for a loan, you’ll know the maximum amount for which you can receive. Continue Reading

Why “Do Not Call” Registries Can Help You

For many people, experiencing a telemarketer’s call at work or at home is frustration personified. A baby screaming for milk; an elderly person tripping as they reach for the phone; or an important business call interrupted by a sales pitch from a telemarketer now has reached a level of zero tolerance for many people.Continue Reading

Dangerous Pets: Why It Affects You and Your Insurance

No matter how dangerous we may think a certain breed is, they are being discriminated against and there’s really not much we can do about it. Pit bulls, Rottweilers and Doberman Pinschers, for example, are at the top of the vicious animal list and can cause your insurance company to either void your policy or have you get rid of your pet. We most insurance companies don’t understand is any dog type can be vicious to a certain instinct. How a dog is raised or trained all depends on the dog’s actions. In other words, no matter how mean a dog may look that dog could be the sweetest animal you’ve ever met.Continue Reading

How to Open an IRA Without Pesky Fees

Unfortunately, there are no IRAs available with any fees attached. The companies offering this retirement product have to make money to stay in business. No fee IRAs and no fee Roth IRAs are a marketing tool, but there are companies who charge more fees than others do. As with any smart shopping, focus should be placed on companies that administer the least amount of fees and commission costs. The other option is to self-manage an IRA. This will prevent any fees. Unless the IRA is intended for nontraditional assets, it easy not a hard task to effectively manage the IRA personally. Brokers and financial advisers charge an advisory fee to manage IRA’s. They commonly have rates of one to one and a half percent, but if an advisory fee is charged, then it is a conflict of interest for them to also sell commissionable products to the client they are advising. Buyers should be aware of all fees that are being charged. If a broker or a financial advisor is vague or dismissive with inquiries into fee structure, then it is advisable to place hard-earned assets with a more professional group or company. Fees and other charges are called frictional losses and effective investors will understand this concept and minimize their impact on their portfolios. However, most reputable companies do offer these so-called no fee IRAs.Continue Reading

Financing Family: How to Prepare for a Newborn

Taking in account the value of today’s dollar, the United States Department of Agriculture (the USDA) has speculated that a baby will cost a middle-income family more than $165,000 from conception to the time he or she turns 18, and that’s just taking one child into consideration. However, that amount isn’t including such factors as; Adoption costs (if applicable), fertility treatments (if needed), private education, extra lessons, college, etc; All of which can stack on an additional $100,000 to $300,000 to that already high number. Even by just being conceived, babies are estimated to cost between $6,800 to $10,600; A number which is dependent of residency, type of birth (Natural birth is less expensive than a cesarean), prenatal care (such as exams, check-ups, vitamins, etc), labor, and delivery. Then there’s the first year expenses which consist of doctor’s visits, baby clothes, baby furniture, day care, diapers, food, and so forth; All of which will likely have you shelling out about $20,000 before the baby even turns 1 years old. Continue Reading