Starter home Forever home Definition A home you plan to own for a short period before buying another one The only home you plan to buy Home features May have drawbacks in size, location, or other features Must meet both current and future needs Cost Typically cheaper Typically more expensive Mortgage May prefer an ARM … Read more
Whole life insurance is a type of permanent coverage that’s offered in a range of “styles” to suit different needs. Since permanent coverage, including whole life, is more expensive than temporary or “term” coverage, many of the different types of whole life insurance have evolved to help owners manage the cost of premiums. But other … Read more
One of the biggest investments you will ever make is your home. In the event of an unexpected loss, you need a homeowner’s insurance company you can depend on to restore your home and its contents to their previous condition. One company that deserves consideration for your homeowner’s insurance needs is Shelter Insurance. Shelter Insurance … Read more
Key Takeaways An insurance declaration page sums up what is in an insurance policy. It comes at the start of policy paperwork and contains information such as your deductible, coverage, discounts, and more. You should check your dec page for errors as soon as you get it. Errors may make it hard to file a … Read more
Definition and Examples of Amortization Amortization is the way loan payments are applied to certain types of loans. Typically, the monthly payment remains the same, and it’s divided among interest costs (what your lender gets paid for the loan), reducing your loan balance (also known as “paying off the principal loan”), and other expenses like … Read more
Early Withdrawal Penalties at Major Banks bank One-year CD penalty Five-year CD penalty Ally 60 days of interest 150 days of interest Bank of America 90 days of interest 365 days of interest Capital one Three months of interest Six months of interest Chase 180 days of interest 365 days of interest Discover six months … Read more
7(a) Loans 504/CDC Loans Franchise Uses Establishing and operating the business as well as real estate or heavy equipment Purchase of real estate and large equipment or machinery Eligibility Be a small business, operating as a for-profit in the US, have invested equity, demonstrate good credit history Operating as a for-profit in the US, have … Read more
Hosting a place on Airbnb can be a lucrative undertaking—although financing the initial investment might seem daunting. To help you gain a greater understanding of financing an Airbnb business, we’ll cover the main options for funding, tips to help you successfully finance the venture, and answers to some frequently asked questions. Can You Finance an … Read more
HELOC Home Equity Loan Secured by your home equity Secured by your home equity Low interest rates Low interest rates Usually variable rate Variable or fixed rate Draw funds multiple times One-time payout Upfront and annual fees Upfront fees, but no annual fees Secured by Home Equity Both home equity loans and HELOCs are secured … Read more
You can’t get a power of attorney to act for someone after they have died, and an existing power of attorney becomes invalid upon the death of the principal—the individual who gave you the right to take certain actions on their behalf. Someone is still going to have to take care of their affairs after … Read more