Sunday, 11 October 2015
Do's and Don'ts for Getting Approved for a Mortgage
Do's and Don'ts for Getting Approved for a Mortgage
Beginners' guide to mortgages - MoneyWeek investment tutorials
Beginners' guide to mortgages - MoneyWeek investment tutorials
Wednesday, 7 October 2015
The Different Between Real Estate Taxes and Personal Property Taxes By [http://ezinearticles.com/?expert=Bill_Len]Bill Len It is often extremely easy to confuse the various taxes related to real estate, particularly when the terms used to describe each are so similar. For example, real estate tax is often referred to as property tax, which means it is easy to think that personal property tax must fall under that banner. However, it is important to note that personal property tax is actually a completely separate issue, and thus needs to be treated as such and accounted for when you are filing your taxes. Here we will take a look at the differences between real estate tax and personal property tax, so that you are no longer confused when dealing with either one of them. Real Estate Tax As mentioned, this is often also referred to as property tax. The lack of the word "personal" ahead of the phrase "property tax" is important because that indicates that you are actually talking about real estate tax. In the simplest terms, this type of tax refers to any money that you have to pay on an immovable property. This can refer to any land that you own and any of the structures that are built on that land. As such, it will apply to homes, commercial buildings and any other properties that have a permanent location. If you own the property directly this type of tax will usually be paid directly to your local tax assessor, or will be included as part of your monthly mortgage payment so that you pay it indirectly. The rate you pay is also liable to change based on the judgement of your local authority, so it is important to stay on top of any changes in policy. Personal Property Tax Personal property tax is different because it applies to any of your movable assets, rather than ones that have a permanent location. Like real estate tax, it is an annual tax that may change based on the judgement of the local government, so it is still important to stay on top of this kind of tax and budget accordingly. As for what it covers, personal property tax is paid on everything from mobile homes, through to vehicles, boats and planes. Essentially, any item that you own that can be moved will be subject to this type of tax. However, it is similar to real estate tax in the sense that the amount you pay is often judged based on the value of the item. For example, your vehicle license fee is based on the value of the vehicle itself, and is thus a personal property tax. The same goes for the other types of homes and vehicles mentioned here. As such, if you have plans to purchase a recreational vehicle of any sort, it is important to speak to an expert so that you can determine how much tax you will need to pay on the vehicle. Whatever you do, don't confuse the two and assume that paying for one means that you have paid for both. Keep 100% Commission You Earned It - Now Keep It If you are looking for a job in Boston that has the potential to make over 150k+ your 1st year and you have your real estate license in MA then please contact us at [http://www.tazar.com]http://www.tazar.com. Also for more information about investments property, or Cape Cod real estate please then visit are Boston real estate blog [http://tazar9.blogspot.com/]http://tazar9.blogspot.com. Thank you for reading. P.S. If you like this article please give us a tweet! Please note the content is not intended to be, legal or investment advice. You should consult a licensed attorney or realtor for advice regarding your individual situation. Article Source: [http://EzineArticles.com/?The-Different-Between-Real-Estate-Taxes-and-Personal-Property-Taxes&id=9179324] The Different Between Real Estate Taxes and Personal Property Taxes
The Different Between Real Estate Taxes and Personal Property Taxes
By [http://ezinearticles.com/?expert=Bill_Len]Bill Len
It is often extremely easy to confuse the various taxes related to real estate, particularly when the terms used to describe each are so similar. For example, real estate tax is often referred to as property tax, which means it is easy to think that personal property tax must fall under that banner.
However, it is important to note that personal property tax is actually a completely separate issue, and thus needs to be treated as such and accounted for when you are filing your taxes.
Here we will take a look at the differences between real estate tax and personal property tax, so that you are no longer confused when dealing with either one of them.
Real Estate Tax
As mentioned, this is often also referred to as property tax. The lack of the word "personal" ahead of the phrase "property tax" is important because that indicates that you are actually talking about real estate tax.
In the simplest terms, this type of tax refers to any money that you have to pay on an immovable property. This can refer to any land that you own and any of the structures that are built on that land.
As such, it will apply to homes, commercial buildings and any other properties that have a permanent location. If you own the property directly this type of tax will usually be paid directly to your local tax assessor, or will be included as part of your monthly mortgage payment so that you pay it indirectly. The rate you pay is also liable to change based on the judgement of your local authority, so it is important to stay on top of any changes in policy.
Personal Property Tax
Personal property tax is different because it applies to any of your movable assets, rather than ones that have a permanent location. Like real estate tax, it is an annual tax that may change based on the judgement of the local government, so it is still important to stay on top of this kind of tax and budget accordingly.
As for what it covers, personal property tax is paid on everything from mobile homes, through to vehicles, boats and planes. Essentially, any item that you own that can be moved will be subject to this type of tax.
However, it is similar to real estate tax in the sense that the amount you pay is often judged based on the value of the item. For example, your vehicle license fee is based on the value of the vehicle itself, and is thus a personal property tax. The same goes for the other types of homes and vehicles mentioned here.
As such, if you have plans to purchase a recreational vehicle of any sort, it is important to speak to an expert so that you can determine how much tax you will need to pay on the vehicle. Whatever you do, don't confuse the two and assume that paying for one means that you have paid for both.
Keep 100% Commission
You Earned It - Now Keep It
If you are looking for a job in Boston that has the potential to make over 150k+ your 1st year and you have your real estate license in MA then please contact us at [http://www.tazar.com]http://www.tazar.com. Also for more information about investments property, or Cape Cod real estate please then visit are Boston real estate blog [http://tazar9.blogspot.com/]http://tazar9.blogspot.com.
Thank you for reading.
P.S. If you like this article please give us a tweet!
Please note the content is not intended to be, legal or investment advice. You should consult a licensed attorney or realtor for advice regarding your individual situation.
Article Source: [http://EzineArticles.com/?The-Different-Between-Real-Estate-Taxes-and-Personal-Property-Taxes&id=9179324] The Different Between Real Estate Taxes and Personal Property Taxes
By [http://ezinearticles.com/?expert=Bill_Len]Bill Len
It is often extremely easy to confuse the various taxes related to real estate, particularly when the terms used to describe each are so similar. For example, real estate tax is often referred to as property tax, which means it is easy to think that personal property tax must fall under that banner.
However, it is important to note that personal property tax is actually a completely separate issue, and thus needs to be treated as such and accounted for when you are filing your taxes.
Here we will take a look at the differences between real estate tax and personal property tax, so that you are no longer confused when dealing with either one of them.
Real Estate Tax
As mentioned, this is often also referred to as property tax. The lack of the word "personal" ahead of the phrase "property tax" is important because that indicates that you are actually talking about real estate tax.
In the simplest terms, this type of tax refers to any money that you have to pay on an immovable property. This can refer to any land that you own and any of the structures that are built on that land.
As such, it will apply to homes, commercial buildings and any other properties that have a permanent location. If you own the property directly this type of tax will usually be paid directly to your local tax assessor, or will be included as part of your monthly mortgage payment so that you pay it indirectly. The rate you pay is also liable to change based on the judgement of your local authority, so it is important to stay on top of any changes in policy.
Personal Property Tax
Personal property tax is different because it applies to any of your movable assets, rather than ones that have a permanent location. Like real estate tax, it is an annual tax that may change based on the judgement of the local government, so it is still important to stay on top of this kind of tax and budget accordingly.
As for what it covers, personal property tax is paid on everything from mobile homes, through to vehicles, boats and planes. Essentially, any item that you own that can be moved will be subject to this type of tax.
However, it is similar to real estate tax in the sense that the amount you pay is often judged based on the value of the item. For example, your vehicle license fee is based on the value of the vehicle itself, and is thus a personal property tax. The same goes for the other types of homes and vehicles mentioned here.
As such, if you have plans to purchase a recreational vehicle of any sort, it is important to speak to an expert so that you can determine how much tax you will need to pay on the vehicle. Whatever you do, don't confuse the two and assume that paying for one means that you have paid for both.
Keep 100% Commission
You Earned It - Now Keep It
If you are looking for a job in Boston that has the potential to make over 150k+ your 1st year and you have your real estate license in MA then please contact us at [http://www.tazar.com]http://www.tazar.com. Also for more information about investments property, or Cape Cod real estate please then visit are Boston real estate blog [http://tazar9.blogspot.com/]http://tazar9.blogspot.com.
Thank you for reading.
P.S. If you like this article please give us a tweet!
Please note the content is not intended to be, legal or investment advice. You should consult a licensed attorney or realtor for advice regarding your individual situation.
Article Source: [http://EzineArticles.com/?The-Different-Between-Real-Estate-Taxes-and-Personal-Property-Taxes&id=9179324] The Different Between Real Estate Taxes and Personal Property Taxes
Why Spring Is Known As the Mortgage Season
Why Spring Is Known As the Mortgage Season
By [http://ezinearticles.com/?expert=Frank_Zelasko]Frank Zelasko
Are you one of the many people who have heard the expression - "spring is the mortgage season"? Have you often asked yourself why?
Traditionally, the period between September and November is the busiest time of the year for real estate agents and finance/mortgage brokers. As this is the time of the year when many people are:
1. Looking at selling and buying real estate; and
2. Looking to take out home loans.
Also, spring, is the time of the year when homes look their best and people are happier to attend open inspections and auctions.
Start Planning
Before you start looking around for your dream home, you should start planning by undertaking the following steps:
Step 1- Presentation
Because first impressions always count to the buyer, it is important to make sure your property looks its best from the moment it goes onto the market for sale. This means ensuring that both the interior and exterior are as presentable and attractive as you can make them.
Step 2 - Perform a Financial Health Check
Just as you have a regular medical check done on your health, you should also consider having a health check done on your finances. Because, performing a financial health check will tell you if your finances:
>> Need attention;
>> Are under control; or
>> Could be better.
The financial health check will help you take control of your finances. So, why not start straight away by using a Budget Planner Calculator to work out what you are spending your money on.
Step 3 - Work out How Much You Can Borrow
Do your sums by using a Borrowing Power Calculator to work out:
>> How much can you borrow? and
>> What repayment amount can you afford?
Step 4 - Get your Home Loan Pre-Approved
By getting your home loan pre-approved, you will have the peace of mind knowing that your loan has already been assessed by a qualified finance/mortgage broker. Also, you will have the upper hand when negotiating the purchase of the property with the seller (vendor) and/or real estate agent.
Step 5 - Choosing a Suitable Home Loan
Once you have sorted out your budget, it is time to start choosing a home loan. When choosing a home loan, it is important to work out:
>> The features you need from your loan; and
>> The cost of the loan in terms of fees.
To help you in choosing your home loan, you should ask different lenders/credit providers for a copy of their "Key Facts" sheet. It will give you the information you need and it will also give you a comparison rate of the total costs of a home loan against other home loans.
Note: Lenders/credit providers must give you a Key Facts sheet for a home loan, if you ask for one (but not for interest only loans or line of credit loans).
Step 6 - Choosing a Suitable Licensed Real Estate Agent
You should consider appointing a suitable licensed real estate agent who:
>> Will assist you when you are selling your home;
>> Will assist you with your property search when you are buying real estate;
>> Has a good knowledge of the demographics of your local area;
>> Has a good knowledge of comparable sales in your local area or the area you are looking at;
>> Will alert you to new listings before they reach the media; and
>> Will be able to offer additional advice.
Step 7 - Documentation
At a minimum, you will be required to produce documents such as pay slips, which can provide evidence of your income.
Selling your current home and buying a new one can be an overwhelming task for many. But, you can ensure stress-free and happy home buying process by employing the services of a qualified finance/mortgage broker. He/she will provide expert assistance every step of the way and ensure that you obtain the best home loan deal.
For happy home buying, you need to obtain [http://www.singhfinance.com.au/residential-finance/home-loans]pre-approved home loans. Singh Finance's team of expert finance broker will go the extra mile in finding you the right finance. It can even help you with other loans such as [http://www.singhfinance.com.au/truck-finance]low rate truck finance.
Article Source: [http://EzineArticles.com/?Why-Spring-Is-Known-As-the-Mortgage-Season&id=9186689] Why Spring Is Known As the Mortgage Season
By [http://ezinearticles.com/?expert=Frank_Zelasko]Frank Zelasko
Are you one of the many people who have heard the expression - "spring is the mortgage season"? Have you often asked yourself why?
Traditionally, the period between September and November is the busiest time of the year for real estate agents and finance/mortgage brokers. As this is the time of the year when many people are:
1. Looking at selling and buying real estate; and
2. Looking to take out home loans.
Also, spring, is the time of the year when homes look their best and people are happier to attend open inspections and auctions.
Start Planning
Before you start looking around for your dream home, you should start planning by undertaking the following steps:
Step 1- Presentation
Because first impressions always count to the buyer, it is important to make sure your property looks its best from the moment it goes onto the market for sale. This means ensuring that both the interior and exterior are as presentable and attractive as you can make them.
Step 2 - Perform a Financial Health Check
Just as you have a regular medical check done on your health, you should also consider having a health check done on your finances. Because, performing a financial health check will tell you if your finances:
>> Need attention;
>> Are under control; or
>> Could be better.
The financial health check will help you take control of your finances. So, why not start straight away by using a Budget Planner Calculator to work out what you are spending your money on.
Step 3 - Work out How Much You Can Borrow
Do your sums by using a Borrowing Power Calculator to work out:
>> How much can you borrow? and
>> What repayment amount can you afford?
Step 4 - Get your Home Loan Pre-Approved
By getting your home loan pre-approved, you will have the peace of mind knowing that your loan has already been assessed by a qualified finance/mortgage broker. Also, you will have the upper hand when negotiating the purchase of the property with the seller (vendor) and/or real estate agent.
Step 5 - Choosing a Suitable Home Loan
Once you have sorted out your budget, it is time to start choosing a home loan. When choosing a home loan, it is important to work out:
>> The features you need from your loan; and
>> The cost of the loan in terms of fees.
To help you in choosing your home loan, you should ask different lenders/credit providers for a copy of their "Key Facts" sheet. It will give you the information you need and it will also give you a comparison rate of the total costs of a home loan against other home loans.
Note: Lenders/credit providers must give you a Key Facts sheet for a home loan, if you ask for one (but not for interest only loans or line of credit loans).
Step 6 - Choosing a Suitable Licensed Real Estate Agent
You should consider appointing a suitable licensed real estate agent who:
>> Will assist you when you are selling your home;
>> Will assist you with your property search when you are buying real estate;
>> Has a good knowledge of the demographics of your local area;
>> Has a good knowledge of comparable sales in your local area or the area you are looking at;
>> Will alert you to new listings before they reach the media; and
>> Will be able to offer additional advice.
Step 7 - Documentation
At a minimum, you will be required to produce documents such as pay slips, which can provide evidence of your income.
Selling your current home and buying a new one can be an overwhelming task for many. But, you can ensure stress-free and happy home buying process by employing the services of a qualified finance/mortgage broker. He/she will provide expert assistance every step of the way and ensure that you obtain the best home loan deal.
For happy home buying, you need to obtain [http://www.singhfinance.com.au/residential-finance/home-loans]pre-approved home loans. Singh Finance's team of expert finance broker will go the extra mile in finding you the right finance. It can even help you with other loans such as [http://www.singhfinance.com.au/truck-finance]low rate truck finance.
Article Source: [http://EzineArticles.com/?Why-Spring-Is-Known-As-the-Mortgage-Season&id=9186689] Why Spring Is Known As the Mortgage Season
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