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Tag: interest rate

How to save money and invest in a house

How to save money and invest in a house

Real Estate
Buying the first home starts with raising enough funds for a home loan deposit. While everyone understands the need to save for at least 10% to 20% of the purchase price, not many know exactly how to accumulate that amount of money. Saving money to buy a house requires some sort of planning and strategy. Here are some useful tips for raising home loan deposits. Open a First Home Saver Account First time home buyers in Australia should open a First Home Saver Account, a tax effective way to save for a house deposit. Basically, the first $5000 of individual contribution made each year to the account will see the government contributing 17% of that amount. This is much higher than any interest rate in savings accounts or fixed term deposits. The First Home Saver Account should not...
Money handling tips while obtaining auto dealer financing

Money handling tips while obtaining auto dealer financing

Finance
Money handling - Obtaining an auto loan is exciting and many dealers offer in-house financing, which allows individuals to easily receive the loan for the car they desire. This can be a good thing, but without careful money handling, it could lead to the dealer taking advantage of the individual purchasing the car. Below, individuals will learn how to work the auto finance network with important tips for obtaining auto dealer financing with good money handling tips. There are several reasons to save money and smart auto loan is one of those. Check Interest Rates Individuals have the option to negotiate the interest rate for their financing. It’s important that they exercise this option because the dealer will almost always make the interest rate higher than they actually plan on ...
Global financial crisis promotes frugal living

Global financial crisis promotes frugal living

Finance
The media is rife with stories of the negative impacts of the Global Financial Crisis, but there have been many new developments of a more positive nature that do not get coverage in the tabloids or gain airtime in the electronic media. Upside to the GFC - Lower Interest Rates Increase Housing Affordability Interest rates are down, considerably. The cost of a mortgage is well down on the rates being charged just eighteen months ago. Monthly repayments on variable mortgages are lower in line with lower interest rates, and if the repayments have remained the same the principal of the loan is reduced as the interest component of the repayment is a lesser proportion of the monthly installment. This allows the homeowner to get ahead, and create some contingency to delay payments for a whi...
You Can Die Peacefully if You Avail of Equity Release

You Can Die Peacefully if You Avail of Equity Release

Finance
When you are getting old, you start to get worried about your family. You want them to feel safe and secure before you pass on. You don't want them to inherit tons of debt because of you. However, it is quite tricky since you could end up accumulating more expenses due to your illnesses. Instead of leaving an inheritance behind, you could leave problems for your family. You might want to consider equity release. The process is quite simple since you don’t need to sell anything. You also don’t need to submit lots of requirements. As long as you are over 55 and you own a property, whether fully paid or not, you won’t have a hard time applying for equity release. Stay in your house  When you are yet to pay the mortgage fully, you might run the risk of getting kicked out of yo...