Low Interest Loans – Win Win Lose http://winwinlose.net/ Mon, 27 Jun 2022 18:11:15 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://winwinlose.net/wp-content/uploads/2021/06/icon-9.png Low Interest Loans – Win Win Lose http://winwinlose.net/ 32 32 Do I really need bonds in my portfolio? https://winwinlose.net/do-i-really-need-bonds-in-my-portfolio/ Mon, 27 Jun 2022 18:11:15 +0000 https://winwinlose.net/do-i-really-need-bonds-in-my-portfolio/ from dr Anna McKeone, Guest Writer Even for early and mid-career investors, the most respected asset allocations recommend holding bonds. This recommendation is based on the idea that bonds don’t fluctuate as much as stocks, and that people consider them to be fairly “safe” money. Additionally, they can (but not always) be negatively correlated with […]]]>

from dr Anna McKeone, Guest Writer

Even for early and mid-career investors, the most respected asset allocations recommend holding bonds. This recommendation is based on the idea that bonds don’t fluctuate as much as stocks, and that people consider them to be fairly “safe” money. Additionally, they can (but not always) be negatively correlated with stocks — meaning your bonds can be worth more over the same period if stocks are falling.

Medical school scholarship holder

But for some of us, attachments might not make sense. Because of this, I have exactly 0% bonds in my portfolio.

Trade training for time in the market

Like most of you in the medical field, I already had some gray hairs when I first started investing. Because of the late start (and with little wealth to lose), I was willing to go all-in on stocks to take on more risk for better long-term returns. Many of us have friends who had been contributing to their retirement accounts for a decade by the time we started making money as caregivers. The power of compounding is the real thing, and to make up for that lost time you must either save more annually for retirement, take more risks to get better expected returns, or both. I have chosen to hold 90% stocks and 10% real estate with no allocation to bonds, in part because of my late start and because I feel I must be willing to take more risk to catch up from my decade in college, when I wasn’t at the market.

Long investment horizon

I’m on my own bumpy road to financial independence, and the road is long. A long investment horizon allows me to invest in riskier assets because I expect them to get me there faster over the long term by delivering better returns. The riskiest time for retirees is the few years before and after retirement, when the sequence of risk of return is at its strongest.

Most investors will want to significantly de-risk their portfolio in the years leading up to retirement with something like a bond tent to mitigate that risk. Since I’m still a long way from retirement, I can party when the stocks are going down because to me they’re just selling out (I also party when the stocks are going up and I’m making money with my money).

In recent years of great returns, this has been pretty easy to digest. And then came 2022 with negative returns. While it’s painful to watch my retirement account numbers go down instead of up, I know that if I don’t pull the money out, the loss is only theoretical. Also, I’d still rather lose 10% of my money this year, but for the last few years I’ve made 25% a year on the same money. If I hadn’t had it in stock at the time, there would have been a lot less total on the account to date. Furthermore, I won’t need this money for 20 years and am confident that by the time I need it this money will have come back and made more.

fungibility of debt

But the main reason bonds are a no-no for me right now is because money is fungible. If money is fungible and debt is money, then that means debt is also fungible. I currently have low-interest debt, including my student loans and mortgage, that I am working to pay off. When I prepared my written investment statement, I initially planned a bond allocation. However, when I analyzed my financial situation more closely, it made no sense to invest for a 3% non-guaranteed return while I was 3% in debt. The idea of ​​investing in a bond with money essentially borrowed from my home or student loans felt wrong.

I realized that my low-interest debt essentially functions as negative borrowing. By paying off my low-interest debt instead of investing in bonds, I guarantee that return. Some would say, “Leverage all the low-interest debt you can!” Reference Jim Dahle’s excellent talk on debt at the Physician Wellness and Financial Literacy Conference (you can find this talk in the Continuing Financial Education 2022 course). Taking the percentage of your asset allocation that would normally be allocated to bonds and using that money to pay down your low-interest debt will have the effect of increasing your net worth while taking steps toward a debt-free life.

bonds in the portfolio

Do you have a pillow?

To do this responsibly, I need easy access to money if something happens to me and the market is down. That includes having adequate emergency funds, as well as access to credit cards and a home equity line of credit in case things really go wrong. My plan is that once my low-interest debt is paid off, I’ll use that money to bond as usual, in line with my asset allocation target.

When are bonds right for me?

I see adding bonds when I’ve paid off my debt. I’ll even pay off my house first as I’m debt shy and love the idea of ​​not owing anyone anything. Once I’m out of debt payments, I’ll add an allocation to bonds, probably somewhere around 25%. Then, as I approach retirement, I plan to create a retirement tent for the 4-5 years before and after retirement when the risk of return is highest. A bond tent effectively increases the allocation to bonds in the years leading up to retirement, and I’ll probably aim for as much as 75% at that point. In the years after retirement, I plan to go back to around 40% borrowing. If all goes as planned and my retirement savings remain adequate, I will start increasing asset allocation to equities again. The more legacy funds I have, the more I can donate.

As they say, personal finance is personal. Regardless of what you do with your investments and debt, make sure you understand it, that it’s part of your written investment statement, and that it will allow you to get a good night’s sleep.

What percentage of your portfolio is bonds? Do you think it makes sense to have absolutely zero bonds in your possession? Has the crater market of 2022 changed your mind? Comment below!

[Editor’s Note: Dr. Anna McKeone is a practicing emergency physician and a lover of the outdoors and personal finance. You can find more of her work at The Bumpy Road to FI. This article was submitted and approved according to our Guest Post Policy. We have no financial relationship.]

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5 ways to get the best interest rate on a two wheeler loan https://winwinlose.net/5-ways-to-get-the-best-interest-rate-on-a-two-wheeler-loan/ Sat, 25 Jun 2022 12:02:19 +0000 https://winwinlose.net/5-ways-to-get-the-best-interest-rate-on-a-two-wheeler-loan/ 1. Study and compare the interest rates charged by different financial institutions for two wheeler loans: The interest rate and the associated fees for the two-wheeler loan vary from bank to bank. You can make a comparison considering such parameters as interest rates, processing fees, other fees including penalties, foreclosure fees. prepayment fees etc. 2. […]]]>

1. Study and compare the interest rates charged by different financial institutions for two wheeler loans:

The interest rate and the associated fees for the two-wheeler loan vary from bank to bank. You can make a comparison considering such parameters as interest rates, processing fees, other fees including penalties, foreclosure fees. prepayment fees etc.

2. Pay attention to your creditworthiness:

2. Pay attention to your creditworthiness:

The credit score is a measure of a person’s creditworthiness, or in other words, a measure of a person’s ability to pay off debt. The CIBIL Credit Score is a three-digit number between 300 and 900, with 900 being the best score. So if you have good credit, say between 750 and 900, you can expect to get the best or cheapest interest rate available on the loan. Otherwise, if it is on the lower side, the institution will charge you a higher interest rate as a risk premium over the usual rate charged for two wheeler loans. But here you need to be proactive in the sense that you need to know your credit score first and if it’s low you should probably work on improving it and then maybe apply for the loan later.

3. Look for pre-approved two wheeler loan offers:

3. Look for pre-approved two wheeler loan offers:

If your transaction record with the bank is in order and you have consistently developed a healthy relationship with your banker, the lending institutions will make special pre-approved loan offers in such a case. Typically, with this type of loan, you are familiar with the loan amount, rate, fees, etc., so the terms of the loan are much more obvious. These loans are also processed and paid out very quickly. To find out about such offers, you can either visit your bank branch or access the Net Banking facility.

4. For an even better deal, you can apply for the 2 wheel credit when special offers are available:

4. For an even better deal, you can apply for the 2 wheel credit when special offers are available:

Banks offer special deals on two wheeler loans on occasions like Independence Day, during some festivals, etc. At that time, you can get a competitive interest rate, but banks always take your risk profile into account. In addition, you can even get a loan with no processing fee as part of these offers.

5. You can also opt for a two wheeler loan available in conjunction with the car company:

5. You can also opt for a two wheeler loan available in conjunction with the car company:

If you are a potential two-wheeler borrower, you have two options. On the one hand, you can choose the lender yourself, on the other hand, these car dealers also have connections with lenders for loans that are processed quickly and at the same time have a low interest rate. Availing a loan through such connections can also earn you a loan with no processing fees.

GoodReturns.in

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Low-interest home loans and eco-friendly car loans to save on your household budget in June https://winwinlose.net/low-interest-home-loans-and-eco-friendly-car-loans-to-save-on-your-household-budget-in-june/ Wed, 22 Jun 2022 05:46:00 +0000 https://winwinlose.net/low-interest-home-loans-and-eco-friendly-car-loans-to-save-on-your-household-budget-in-june/ At Lifehacker, we independently select and write about things we love and think you will love too. We have affiliate and advertising partnerships, which means we may receive a percentage of sales or other compensation through the links on this page. BTW – the prices are correct and the items are in stock at the […]]]>

At Lifehacker, we independently select and write about things we love and think you will love too. We have affiliate and advertising partnerships, which means we may receive a percentage of sales or other compensation through the links on this page. BTW – the prices are correct and the items are in stock at the time of publication.

Interest rates are officially rising after a decade of interest rate cuts, with the Reserve Bank of Australia raising interest rates by 0.25% and 0.50% in May and June respectively. So where else can Australians get a good deal on their financial products?

There are still competitive home loans out there for those seeking lower fixed or variable interest rates, with some still in the low 2 percent range. If your home loan repayments are taking a financial toll on your budget, it may be worth comparing your options.

With gas prices rising and more infrastructure to be built by state governments, it might be worth considering switching to an electric vehicle to save money in the long run. While the upfront cost of an electric vehicle can be intimidating, car lenders generally offer lower interest rates on their green car loans, so it’s worth exploring this option.

And if the colder-than-average weather has you dreaming of warmer climates, you can buy an international ticket using bonus Qantas frequent flyer points on check-in, which will be offered on a range of credit cards in June.

So let’s explore some of the most competitive interest rates on home loans and green car loans, as well as bulk point-on-enrollment credit cards.

Lowest adjustable rate home loans

The Big Four banks have forecast that cash rates will continue to rise, peaking at around 2-3% by the holiday season. And that means variable home loan interest rates should move with them, so your home loan repayments are significantly higher in just six months.

One option homeowners have to take back control of their mortgage payments is to consider refinancing to a lender with lower interest rates. While there’s more to a home loan than the rate charged, including fees and features worth comparing, lowering your interest rate before rates soar could give you some breathing room. You may even be able to build up a savings buffer from your lower home loan amortization rates.

According to the RateCity database, there are still two home loan providers that offer variable rates below 2% for owner-occupiers paying principal and interest. And while those rates are expected to rise in response to the June rate hike, for your refinance research, it’s worth knowing which lenders are currently offering competitive rates.

Lowest variable rates for owner-occupiers (paying P&I)

home loan interest rate comparison rate Remarks
Reduce Home Loans Super Saver Home Loans 1.94%* 2.03% * Changed to 2.44% on June 24th
Pacific Mortgage Group Variable Standard Home Loan 1.99%* 2.06% * Changed to 2.49% on June 27th
Foreign Bank Home loans 2.01%* 2.03% * Changed to 2.51% on June 22nd

Source: RateCity.com.au. Data status 06/21/22.

Lowest fixed rate home loans

With interest rates already rising, you may be wondering if it’s too late to set your mortgage rate. RateCity research shows that by comparing your existing home loan rate to lower rate options on the market, some homeowners are getting the edge through refinancing.

Interest rates always fluctuate over a term of 25 to 30 years. So if you’re looking for stability in your repayments by fixing your interest rate for a fixed period of time, consider comparing fixed rate options.

RateCity’s database shows that the following home loan interest rates are the most competitive for their fixed term:

Source: RateCity.com.au. Date exactly from 06/21/22.

Green car loans to finance your electric vehicle

Gasoline prices are currently at an all-time high and Australians are expected to pay even more once the six-month fuel consumption tax cut expires at the end of September. One option drivers have to reduce the ongoing cost of fueling their vehicle with gasoline is to consider switching to an electric vehicle (EV).

And with the latest Tesla Model Y heading our way in August, you might be seriously considering getting an electric vehicle. EVs are a greener option when it comes to driving, but they have their own pain points, like initial cost.

Buying an electric vehicle in Australia tends to be more expensive than in the rest of the world. But Australian lenders know this and generally offer lower interest rates on their green car loans to encourage customers to make more sustainable choices.

Here are some green car loans that can help you go full throttle and switch to an electric vehicle:

Largest Qantas frequent flyer bulk points when signing up for credit cards

This month, several credit cards are offering bulk frequent flyer points that can take you as far as Europe, depending on eligibility.

Research from RateCity shows that you need at least 36,000 frequent flyer points to return to Bali and over 100,000 to buy return flights to London or Europe. These are the credit cards that offer the most Qantas frequent flyer points upon sign-up, according to the RateCity database:

· Qantas Premier Titanium – 150,000 points

· ANZ Frequent Flyer Black – 130,000 points

· NAB Rewards Signature Qantas – 120,000 points

Westpac Altitude Black (Altitude Qantas) – 120,000 points

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Small payday loans online with no credit check https://winwinlose.net/small-payday-loans-online-with-no-credit-check/ Sat, 18 Jun 2022 17:29:25 +0000 https://winwinlose.net/small-payday-loans-online-with-no-credit-check/ Small loan online without credit check Get a 100% cash advance online even if you have a bad credit rating. The Best Fast Loan Service! loan A credit check can also sometimes be applied to some payday loans. A credit check is not typically required for many payday loans, but may be required if the […]]]>

Small loan online without credit check

Get a 100% cash advance online even if you have a bad credit rating. The Best Fast Loan Service!

loan

A credit check can also sometimes be applied to some payday loans. A credit check is not typically required for many payday loans, but may be required if the loan is greater than $10,000. Some lenders require applicants to have a driver’s license. But not others. Your credit score will almost certainly be higher anyway, and your current credit score may not be worth the cost of the loan. Some payday lenders require a social security number or other biometric information for their borrowers. Despite a credit check, you can take out small loans online without a credit check and it’s so easy today. You can do this faster and more profitably.

Other providers do not provide for a minimum deposit or other payment requirements. Once you agree, you will receive a confirmation screen and check in the mail. If your bank hasn’t approved any of your credit cards, or if you’ve been the victim of identity theft, you can still contact the lender and ask them to verify the information. If the seller hasn’t paid you the money equal to the debt by the time you get to the bank, it’s common for them to simply refund you the deposit and not send you anything back.

You will not be charged any fee for refunding the money. Remember that someone going through a temporary financial crisis has no way of getting a cash advance back. You will not be penalized by the lender if you do not receive the promised $300 within seven to ten days of approval. This delay in receiving your money is an unfortunate thing for many. If you are able to get cash that you urgently need, use instant cash advances. These loans offer an affordable way to get your money now without waiting for a credit check. To be clear, these are small online payday loans with no credit check and you can avail them today. This type of loan is easier to get than a bank loan with a lot of paperwork and time.

Why are these types of credit so popular?

Lenders take great care to ensure that the borrower can make the repayment. With instant loans, you can repay your payday money in just a few minutes. Online Payday Loans, Banks and Savings Accounts Online loans are available from a variety of credit unions, small and large businesses, and banks. Online loans generally make it easy to get cash advances approved, but there are a few downsides. They can be expensive if you have a large amount, you have to pay early, they can have high interest rates, and they require more frequent paperwork and security features like ID or a guarantor. If you are considering taking out a loan, you can always get a small payday loan online without a credit check and it will always be beneficial to you.

Online Payday Loans, Banks and Savings Accounts Online loans are available from a variety of credit unions, small and large businesses, and banks. Online loans generally make it easy to get cash advances approved, but there are a few downsides. They can be expensive if you have a large amount, you have to pay early, they can have high interest rates, and they require more frequent paperwork and security features like ID or a guarantor.

But payday loans online offer an opportunity to make more money as an employer with these online loans. You don’t have to have a perfect employment history. Some companies let employees pay their payroll taxes online using a credit report, and the government makes sure they receive their paychecks online. If you’re in an emergency that requires cash, consider a cash advance to get quick cash if you’re short of $500 or need to get out of a bad situation quickly.

Monthly fees can be waived for certain borrowers, but the loan is usually expensive. The credit scores that companies use to assess the risk of using this type of credit typically do not have the same level of accuracy as those used when looking at a credit score.

types of loans

The other way to make money fast is through payday loans and cash advances. In this situation, you have a much more limited time frame to pay down the debt or get the funds out the quickest. The two most common types of payday loans you will encounter are cash advance and payout. Cash Advance Payday Cash Advance is a fast way to get cash.

This type of credit is often used to collect fees on your credit card account or to pay for an ATM loan. As a rule, cash loans and cash advances are not used for personal use, but in the interest of a quick payout of the money. With this type of payday loan, you can get up to 10 percent of the principal amount of the loan at prepayment rates. Many cash lenders charge a higher interest rate than you can get on your credit card. However, the interest rate is usually very low and is often less than 5 percent. Also, you don’t have to worry about checking your credit status, that is not the case here where you can only get no rejection payday loans from direct lenders and this is the best way to get some quick cash already today.

You will not have a complete credit history before getting a loan. However, instant loans are designed to make it easy for you to pay off the debt quickly. The best rate can be made possible with a cash advance loan. Other Instant Loans Instant loans can be used to make credit card, student loan, or mortgage payments. You have an immediate interest rate to pay back the loan.

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6 home equity planning strategies for first-time borrowers https://winwinlose.net/6-home-equity-planning-strategies-for-first-time-borrowers/ Fri, 17 Jun 2022 05:21:46 +0000 https://winwinlose.net/6-home-equity-planning-strategies-for-first-time-borrowers/ Lenders primarily approve home loans based on applicants’ income, creditworthiness, ability to repay, and other factors. Failure to meet the criteria set by lenders can result in rejection of a home loan application. Here are some of the factors that first-time home loan borrowers should keep in mind to increase their home loan eligibility. Check […]]]>

Lenders primarily approve home loans based on applicants’ income, creditworthiness, ability to repay, and other factors. Failure to meet the criteria set by lenders can result in rejection of a home loan application.

Here are some of the factors that first-time home loan borrowers should keep in mind to increase their home loan eligibility.

Check your credit on a regular basis

Your creditworthiness is among the first factors considered by banks and HFCs when evaluating home loan applications. Applicants with a credit score of 750 or greater have a higher chance of a loan approval. Such credit scores can also help them in availing home loans at lower interest rates. So if you want to take out a home loan in the future, you should start checking your creditworthiness at regular intervals. This would allow people with low credit scores to take the necessary actions to improve their credit scores. An improved credit rating would increase their chances of availing home loans at lower interest rates.

Try contributing a higher deposit

The LTV ratio is the fraction of the property’s value that a bank or NBFC can lend to the home borrower. The buyer must cover the rest of the real estate costs from his own funds, either as a down payment or as a contribution margin. The final LTV ratio for a home loan application is primarily determined by the lender’s credit risk assessment of the borrower. Therefore, applicants should first try to save at least 10% to 25% of their property’s value to ensure they are financially ready to make a margin contribution or down payment on the loan.

A higher down payment reduces credit risk and improves the chances of a loan approval. Some lenders also offer lower interest rates to borrowers who opt for lower LTV ratios. Therefore, home loan applicants who want to reduce their interest costs should aim to create larger corpuses for paying down their home loans. However, avoid jeopardizing your emergency fund and investment portfolios earmarked for important financial goals with higher down payments or margin contributions. This may force them to take out loans at higher interest rates to cope with financial needs.

Examine your EMI affordability

Home loan lenders also consider applicants’ ability to repay when evaluating their home loan applications. Banks and HFCs typically prefer lending to those applicants whose total EMI obligation, including that on the new home loan, remains within 50-60% of their monthly income. Those who exceed this limit have reduced chances of an approved home loan. These applicants should seek to reduce their loan repayment obligations by calling in or prepaying some of their previous loans, choosing a longer repayment period, or making a higher down payment or higher margin contribution on their new home loan.

Applicants can take the help of online home loan EMI calculators to determine their optimal EMI based on their ability to repay. This reduces the likelihood of EMIs defaulting in the future.

Include your home loan EMIs in your emergency fund

Unexpected financial hardship or loss of income due to job loss, illness, disability or other circumstances can occur at any time, which could adversely affect your ability to repay the loan. In addition, home loan EMI defaults can result in penalties and a decline in creditworthiness. While you can liquidate your current investments to pay off your home loan EMIs, doing so can negatively impact your long-term financial health. Therefore, it is better to include the estimated EMIs for home loans in your emergency fund for at least six months. This allows you to continue making EMI repayments even if you run into financial difficulties.

Compare home loan offers from multiple lenders

Interest rates, loan amount, LTV ratio, loan terms, processing fees, and other associated costs for home loans can vary widely from lender to lender depending on the credit risk assessment of loan applicants. Because home loans tend to be of greater value and have longer terms, even a small difference in interest rates can have a long-term impact. Therefore, home loan applicants should do extensive research and compare the home loan facilities offered by as many banks and home finance companies (HFCs) as possible before settling on a particular one.

Home loan applicants should first approach lenders with whom they have existing deposit or loan relationships, as many home lenders offer preferential interest rates and other terms to their existing customers. Then they should visit online financial marketplaces to evaluate the interest rates and other home loan features offered by other lenders.

Loop in a co-applicant to improve creditworthiness

Many home loan applications are rejected due to low credit rating, insufficient income, high EMI obligations, etc. of the home loan applicants. Such borrowers can improve their credit score and chances of approval by bringing in a co-applicant, preferably someone with a steady income and good credit. Note that accepting a female co-applicant can earn an additional 0.05% interest rebate from some lenders.

(By Ratan Chaudhary – Head of Home Loans, Paisabazaar)

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Smartphone Financing – Ways to get your hands on the latest iPhone https://winwinlose.net/smartphone-financing-ways-to-get-your-hands-on-the-latest-iphone/ Tue, 14 Jun 2022 06:16:45 +0000 https://winwinlose.net/smartphone-financing-ways-to-get-your-hands-on-the-latest-iphone/ As smartphones get more expensive by the day, the ways to pay for them have also grown over time. If you’re looking to get your hands on your favorite Apple iPhone or the latest Samsung Galaxy, there are several ways you can finance a cell phone purchase. If you don’t have enough cash to pay […]]]>

As smartphones get more expensive by the day, the ways to pay for them have also grown over time. If you’re looking to get your hands on your favorite Apple iPhone or the latest Samsung Galaxy, there are several ways you can finance a cell phone purchase. If you don’t have enough cash to pay for a new smartphone, you can pay for it in monthly installments over an agreed period of time or use your credit card to top up the transaction. Instead of paying with cash, smartphone financing (https://en.wikipedia.org/wiki/Loan) offers several advantages, e.g. B. Earn credit card rewards, build good credit, and spend more time checking out. Before you get started, you should do a thorough research to determine which method is right and beneficial for you.

There are several ways to make a smartphone purchase more affordable if you don’t have enough money to pay upfront, and some of the best smartphone financing options are listed below in this article.

Financing via a new carrier

If you want to enjoy the advanced features of a newly launched smartphone and don’t mind switching carriers, you can finance a new phone through a new carrier subscription plan. Depending on the smartphone manufacturer and service provider, you can get the full price of a phone or enjoy a reduced and affordable monthly installment. Before you switch, familiarize yourself with what’s on offer and see what benefits you’ll get if you sign up with a new provider. Some network operators also offer their new customers benefits other than financing, such as free internet, calls and texts.

manufacturer financing

Financing an unlocked smartphone is easier with manufacturer financing as giant smartphone manufacturers like Apple and Samsung offer affordable financing plans to their customers. They work with various financial institutions and banks to offer interest-free installment plans. Samsung offers such plans in partnership with TD Bank, and Apple is collaborating with Citizen One to launch smartphone financing programs. Some manufacturers are also working with credit card companies to lower the overall cost of their smartphones for their new customers. However, one must have good credit to be eligible for such plans.

Obtaining a Personal Loan

Taking out a personal loan is one of the best and most effective ways to fund a smartphone purchase. There are several companies like Payday LV that offer personal loans on better terms. Good credit can help you get competitive interest rates and easier repayment terms. Before you apply for a loan, make sure you apply for a loan from a lender that offers a low enough loan amount to cover the cost of a smartphone. You can also compare different lenders and banks to choose the right option for your budget.

Dealer Financing

Some e-commerce shops and retailers like Best Buy also offer smartphone financing programs to help people buy their favorite smartphones without financial problems. They usually offer interest-free promotional periods of up to 2 years or more to pay off the cost of a smartphone. Some also help consumers get personal loans on better terms so they can easily finance a cell phone with a lower interest rate. Consumers with strong credit histories can easily qualify for 0% APR financing programs.

credit cards

If you don’t want to switch carriers or aren’t interested in a personal loan, you can still use your credit card to finance a smartphone. With credit cards known to be the most expensive form of smartphone financing, some credit card issuers are partnering with smartphone manufacturers to introduce exciting offers like 0% introductory APR or interest-free smartphone financing plans. However, you should choose the right credit card with tempting perks to finance a new cell phone. A 0% APR card with a 16-24 month introductory period is a great way to cover the cost of your new smartphone.

Conclusion

In this world of financing opportunities, anyone can buy a new smartphone packed with advanced features. However, choosing the right smartphone financing option can be daunting for beginners. Depending on your personal creditworthiness and financial possibilities, you should opt for a cheap financing solution with better repayment terms.

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The lack of affordable housing threatens the economy https://winwinlose.net/the-lack-of-affordable-housing-threatens-the-economy/ Sat, 11 Jun 2022 20:09:00 +0000 https://winwinlose.net/the-lack-of-affordable-housing-threatens-the-economy/ WEST PALM BEACH, Fla. (AP) — Palm Beach County’s lack of affordable housing has begun to hamper the growth of its economy, to the point where its recent expansion is in jeopardy, speakers at a housing summit said last week. Some firms interested in moving their headquarters to Palm Beach County have put their plans […]]]>

WEST PALM BEACH, Fla. (AP) — Palm Beach County’s lack of affordable housing has begun to hamper the growth of its economy, to the point where its recent expansion is in jeopardy, speakers at a housing summit said last week.

Some firms interested in moving their headquarters to Palm Beach County have put their plans on hold until the situation improves, Kelly Smallridge, executive director of the county’s Economic Development Board, said as she attended a panel Thursday at the Palm Beach County Convention Center.

One company even explored the possibility of buying a house for its employees but couldn’t do so because of the cost, she said.

WPTV

Downtown West Palm Beach on April 14, 2021

Smallridge said some employees resigned days after they were hired because they couldn’t find housing that matched their salaries.

“We offer competitive wages,” said Clinton Forbes, executive director of Palm Tran, the county’s bus system, “but we’re having trouble hiring and retaining employees. People want to live where they work and that is difficult for our drivers.”

The starting salary for bus drivers is $65,000 — enough to buy a home that costs about $200,000 on a 30-year mortgage, according to online calculators.

Only a fraction of new housing in Palm Beach County is budget-driven by “workers.”

Analysts have put the lack of affordable housing in the county at tens of thousands of homes, condos, or apartments. In the past five years, the county has created about 1,000 workers’ shelters, a number that County Commissioner Mack Bernard has in the past called grossly inadequate.

Street in downtown West Palm Beach

City of West Palm Beach

“It will take us all to preserve paradise,” said District Administrator Verdenia Baker, noting that the district’s population has grown from 863,503 in 1990 to over 1.5 million.

Demand for housing has pushed the average home cost to more than $600,000, Baker found, almost four times the 1990 level.

Thursday’s summit came as commissioners are considering asking voters to approve a referendum in November on $200 million in bonds to build more affordable housing for workers. Bernard, a panelist, said approving the bond will help create more capacity.

“We need this badly,” he said, noting that prices will come down as more units are built. Other commissioners have questioned the prudence of seeking the bond at a time of high inflation and with monies from previous county housing funds unspent.

Bernard, who represents Riviera Beach and parts of the central area of ​​Palm Beach County, also acknowledged that the county needs to “use current dollars more effectively.”

High rise condominiums in West Palm Beach

WPTV

High rise condominiums in West Palm Beach

Some want to hold a $200 million vote on real estate bonds

Jack Weir, president of Eastwind Development, another panelist, said the bond issue will provide a special source of funding for developers.

He expects the funds to be used as “gap” financing, which provides soft loans to pay for some of the construction costs of apartments and condos. The builders would have to reserve some apartments at market prices.

The county’s worker housing program is designed to create housing that people in essential jobs like teaching, nursing, and public safety can afford.

The rents that may be charged by the developers involved are linked to household income: the lower the income, the lower the rent. These rents are between 60% and 140% of median family income.

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Rents for a one-bedroom apartment, for example, must be capped at $1,318 for households earning up to $63,280. The rent can increase to $2,306 for a household with an income of $110,740.

The county requires new housing developments to reserve a percentage of their units for income-earning households. In return, developers can increase the density of their projects, sometimes doubling what the zone code allows. Rental limits apply to units between one and four bedrooms.

For the areas without their own legal personality, the guidelines of the district apply. Some municipalities have their own guidelines.

Nick Rojo, President of Affiliated Development, noted that any solution must come from the local or county level. “We can’t rely on Tallahassee,” he said.

Weir noted that the state legislature has often taken money from a state housing fund to balance the state budget. Backed by the state’s Republican-led legislature, Gov. Ron DeSantis signed a bill in 2021 to divert half of Florida’s Affordable Housing Trust fund — known as the Sadowski Fund — to fund sanitation systems and sea-level rise projects.

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Weir and Rojo said developers also need to do a better job of addressing the “not in my backyard” argument, which aims to discourage city, township and village officials from approving denser and taller developments, such as apartment buildings, in single-family home-dominated neighborhoods.

“We need to make sure the future tenants of these apartment buildings are represented at public hearings,” Weir said, “so that elected officials understand that there are two sides to this situation.”

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June 9, 2022 – Current Funding Rates Rise – Forbes Advisor https://winwinlose.net/june-9-2022-current-funding-rates-rise-forbes-advisor/ Thu, 09 Jun 2022 14:05:19 +0000 https://winwinlose.net/june-9-2022-current-funding-rates-rise-forbes-advisor/ Editor’s Note: We earn a commission from affiliate links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. The interest rate on a 30-year fixed refinance has skyrocketed today. The average interest rate on a 30-year fixed-rate mortgage is 5.56%, according to Bankrate.com. The average interest rate for a 15-year […]]]>

Editor’s Note: We earn a commission from affiliate links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

The interest rate on a 30-year fixed refinance has skyrocketed today.

The average interest rate on a 30-year fixed-rate mortgage is 5.56%, according to Bankrate.com. The average interest rate for a 15-year fixed-rate mortgage is 4.78%. The average interest rate on a 20-year refinance loan is 5.55% and the average interest rate on a 5/1 ARM is 3.83%.

Related: Compare current refinancing rates

30-year refinancing rates

Today, the average 30-year fixed-rate mortgage refinance rate rose to 5.56%. Last week the 30-year fix was at 5.49%. Today’s price is below the 52-week high of 4.55%.

The annual percentage rate of charge (APR) on a 30-year fixed rate investment is 5.57%. This time last week it was 5.50%. APR is the total cost of your loan.

At the current interest rate of 5.56%, homebuyers with a $100,000 30-year fixed-rate refinance mortgage pay $572 a month in principal and interest (not including taxes and fees), according to the Forbes Advisor Mortgage Calculator. Total interest paid over the life of the loan is approximately $105,761.

20-year fixed rate refinancing rates

The average interest rate for the 20-year fixed refinance mortgage is 5.55%. Last week at the same time, the 20-year fixed-rate mortgage was at 5.41%.

The APR for a 20-year fixed deposit is 5.56%. This time last week it was 5.42%.

Refinancing a $100,000 20-year fixed-rate mortgage at today’s rate of 5.55% costs $691 per month in principal and interest. Taxes and fees are not included. You would pay a total of approximately $65,771 in interest over the life of the loan.

15-year fixed rate mortgage refinance rates

Today the 15-year fixed-rate mortgage rate is 4.78%, higher than yesterday. Last week it was 4.64%. Today’s rate is above the 52-week low of 4.12%.

The effective annual interest on a 15-year fixed interest investment is 4.80%. This time last week it was 4.66%.

Refinancing a $100,000 15-year fixed-rate mortgage at today’s rate of 4.78% costs $779 per month in principal and interest. You will pay a total of $40,289 in interest over the life of the loan.

30-year jumbo mortgage refinance rates

The average interest rate for the 30-year fixed-rate jumbo mortgage refinance is 5.56%. Last week the average rate was 5.52%. The 30-year fixed rate on a jumbo mortgage is above the 52-week low of 4.57%.

Borrowers with a 30-year fixed-rate jumbo mortgage refinance at today’s interest rate of 5.56% pay $572 per month in principal and interest per $100,000.

15-year jumbo mortgage refinance rates

The average interest rate for refinancing the 15-year jumbo fixed-rate mortgage rose to 4.81%. Last week the average rate was 4.68%. The 15-year fixed rate on a jumbo mortgage is higher than the 52-week low of 3.85%.

Borrowers with a 15-year fixed-rate jumbo mortgage refinance and today’s interest rate of 4.81% pay $781 per month in principal and interest per $100,000. That means that on a $750,000 loan, the monthly principal and interest payment would be about $5,857 and you would pay a total of about $304,258 in interest over the life of the loan.

5/1 ARM Refinance Rates

The average interest rate for a 5/1 ARM is 3.83%, above the 52-week low of 2.83%. Last week the average rate was 4.83%.

Borrowers with a $100,000 5/1 ARM at today’s interest rate of 3.83% pay $468 per month in principal and interest.

When does refinancing make sense?

There are a number of reasons why you should refinance your home, but many homeowners consider refinancing if they can lower their interest rate, reduce their monthly payments, or pay off their home loan sooner. Refinancing can also help you access your home’s equity or eliminate private mortgage insurance (PMI).

Refinancing a home loan can be particularly useful if you plan to stay in your home for a while. Even if you get a lower interest rate, you still need to consider borrowing costs. Calculate the break-even point at which your savings from a lower interest rate exceeds your closing costs by dividing your closing costs by the monthly savings from your new payment.

Our mortgage refinance calculator can help you determine if refinancing is right for you.

How to qualify for the best refinancing rates today

Similar to buying a mortgage when buying a home, when it comes to refinancing, here is the lowest refinancing rate:

  • Maintain good credit
  • Consider a shorter-term loan
  • Lower your debt to income ratio
  • Monitor mortgage rates

A solid credit history is no guarantee that you will approve your refinance or get the lowest interest rate, but it might make your journey easier. Lenders are also more likely to approve you if you don’t have excessive monthly debt. You should also keep an eye on mortgage rates for different loan periods. They fluctuate frequently, and loans that require early repayment are usually charged at lower rates.

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Traditional credit: pros and cons https://winwinlose.net/traditional-credit-pros-and-cons/ Tue, 07 Jun 2022 14:10:55 +0000 https://winwinlose.net/traditional-credit-pros-and-cons/ You may get in looking for a variety of alternatives for your home loan. Government-backed loans such as Federal Housing Administration (FHA) and Veterans Affairs (VA) loans are the most common, while privately-backed conventional loans are another option. Conventional loans are one of the most popular types of mortgage loans today. A traditional loan is […]]]>

You may get in looking for a variety of alternatives for your home loan. Government-backed loans such as Federal Housing Administration (FHA) and Veterans Affairs (VA) loans are the most common, while privately-backed conventional loans are another option.

Conventional loans are one of the most popular types of mortgage loans today. A traditional loan is any type of loan (such as a mortgage) offered through a private lender. Conventional loans are not dependent on the state securing them.

It also implies that the bank bears all the risk in lending. If a borrower defaults on their mortgage, it’s up to the lender to put the home on the market and try to recoup the loan. The bank will lose money if the home cannot be sold for enough to cover the loan amount.

Traditional loans have a higher credit rating requirement than other types of loans. This is because they are not insured by the state.

So without further ado, here they are Pros and cons of traditional loans:

ADVANTAGES

– You may be able to qualify for a higher loan amount with a traditional loan than with other types of loans. This is because traditional loans are not limited to a specific loan limit like FHA and VA loans. The sky is the limit as to how much you can borrow.

– You may get a lower interest rate on a traditional loan than other types of loans. This is because your credit score and down payment are likely to be higher, making you less of a risk to the lender.

-You don’t have to pay for Personal Mortgage Insurance (PMI) with a traditional loan if you’re paying back 20% or more. PMI is required for FHA and VA loans if you don’t put up at least 20%.

– Compared to other loan options, traditional loans usually have lower closing fees. You must prepay mortgage insurance on an FHA loan, while VA and USDA loans have financing fees. If you know you have the money for your down payment but don’t want to pay any more interest, a regular loan might be a good choice for you.

– The down payment requirements are only 3%, although the credit requirements are higher. A 20% down payment used to be required to get a standard loan. The down payment on a traditional loan can be as little as 3% if you meet all the required standards, but if you have bad credit or have money problems, the rate can be higher.

The down payment for an FHA loan is usually the same as the amount required for a corresponding FHA mortgage. Say you have a $200,000 mortgage. The down payment requirement on an FHA loan is 3.5 percent, or $7,000 on a $200,000 loan. A conventional loan with a down payment of the same amount would require a credit rating of at least 620.

– You can find conventional loans with variable or fixed mortgage rates. Adjustable-rate mortgages (ARMs) typically have lower interest rates than traditional fixed-rate mortgage loans, but they may involve higher initial payments and could be risky if interest rates rise significantly in the future.

DISADVANTAGE

– You typically need a credit score of 620 or higher to qualify for a traditional loan. This can be a difficult hurdle for some people.

– You may have to pay for PMI if you cannot repay at least 20% on a traditional loan. This can add up to a significant monthly cost to your mortgage payment.

– You could be subject to a higher interest rate if you have poor credit or are unable to make a large down payment. This is because the lender sees you as a higher risk.

-It can be difficult to qualify for a traditional loan if you have a lot of debt. This is because your debt to income (DTI) ratio will be too high. DTI is a measure that looks at how much debt you have compared to your income.

Conclusion

Now that you know the ins and outs of traditional loans, you can start researching lenders to see if you qualify for this type of loan.

All in all, traditional loans offer a good middle ground for people who may not qualify for government-backed loans but still need help securing a mortgage. Talk to your lender about whether a classic loan is right for you.

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A mass shooting in downtown Philadelphia leaves 3 dead and 11 wounded https://winwinlose.net/a-mass-shooting-in-downtown-philadelphia-leaves-3-dead-and-11-wounded/ Sun, 05 Jun 2022 13:21:45 +0000 https://winwinlose.net/a-mass-shooting-in-downtown-philadelphia-leaves-3-dead-and-11-wounded/ PHILADELPHIA — Gunfire killed three people and wounded at least 11 others late Saturday night in one of downtown Philadelphia’s most popular entertainment districts, authorities said. Police officers were patrolling South Street in downtown Philadelphia when they heard multiple gunshots and saw several suspects shooting into a large crowd just before midnight, Police Inspector DF […]]]>

PHILADELPHIA — Gunfire killed three people and wounded at least 11 others late Saturday night in one of downtown Philadelphia’s most popular entertainment districts, authorities said.

Police officers were patrolling South Street in downtown Philadelphia when they heard multiple gunshots and saw several suspects shooting into a large crowd just before midnight, Police Inspector DF Pace said during a news conference.

An officer shot one of the suspects from about 30 feet away, but it’s unclear if the suspect was hit, Pace said.

“You can imagine there were hundreds of people just enjoying South Street like they are doing every single weekend when this shooting broke out,” Pace said.

Two men and a woman were among those killed in the shooting, he said. Their names have not been released by the authorities. The condition of those wounded by gunfire is still unknown.

The victims killed in the shooting were a 26-year-old woman, a 22-year-old man and a 34-year-old man, police said, 6ABC reported.

Two handguns were seized, including one with an extended magazine, police said. No arrests were made.

Pace said police have asked business owners to review video from surveillance cameras.

The Department said on Twitter to avoid the area. South Street is well known for its entertainment and nightlife with several bars, restaurants and shops.

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These are the best hiking areas in New Jersey

A trip to New Jersey doesn’t have to be all about the beach. Our state has some incredible hiking trails, waterfalls and lakes.

From the Pine Barrens to the Appalachian Trail to New Jersey’s hidden gems, there are many options for a great hike. Hiking is a great way to spend time outside and enjoy nature, and it’s also a great workout.

Before you hit the trails and explore some of our listeners’ suggestions, I have some hiking etiquette tips from the American Hiking Society.

If you are going downhill and meet an uphill hiker, step aside and give the uphill hiker room. A hiker going uphill has the right-of-way unless stopping to catch his breath.

Always stay on the trail, you may see byways unless marked as an official trail, stay away from them. If you leave the trail, you can harm the ecosystems surrounding the trail, the plants and wildlife that live there.

You also don’t want to disturb the wildlife you encounter, just keep your distance from the wildlife and keep hiking.

Cyclists should give way to hikers and horses. Hikers should also give way to horses, but I’m not sure how many horses you’ll encounter on New Jersey’s trails.

If you decide to take your dog with you on your hike, be sure to keep them on a leash and ensure all pet waste is removed.

Finally, keep the weather in mind, if the trail is too muddy it’s probably best to save your hike for another day.

I asked our listeners for their suggestions for the best hiking areas in New Jersey, check out their suggestions:

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