Category: Finance

Mortgage terms : Closed mortgage – A mortgage that cannot be repaid or prepaid, renegotiated or refinanced prior to maturity, unless stated in the agreed upon terms. Closing costs – Costs that are in addition to the purchase price of a property and which must be paid on the closing date. Examples include legal fees, land transfer taxes, and disbursements. Debt service ratio – The percentage of the borrower’s income used for monthly payments of principal, interest, taxes, heating costs, condo fees (if applicable) and debts. GDS is gross debt service – how much you spend on Principal, Interest, Taxes and Heating. TDS is total debt service – GDS plus all other debt payment obligations. Default – A homeowner is ‘in default’ when he or she breaks the terms of a mortgage agreement, usually by not making required mortgage payments or by not making payments on time. Down payment – The money that you pay up-front for a house. Down payments typically range from 5%-20% of the total value of the home, but can be anything above 5%, if you qualify. Early Discharge Penalty – A penalty you may pay your lending institution for breaking the mortgage contract early. This is usually 3 months interest or the Interest Rate Differential (IRD), whichever is larger. See below for IRD.

Paying attention to your financial situation is very valuable. Here are some advices related to finance terms. Business credit cards are designed specifically for business use. They provide business owners with an easy method of keeping business and personal transactions separate. There are standard business credit and charge cards available. Even for a business credit card, your personal credit history is considered because the credit card issuer still needs to hold an individual accountable for the credit card balance.

Obtaining a Payday Loan: Payday loan providers are typically small credit merchants with physical locations that allow onsite credit applications and approval. Some payday loan services may also be available through online lenders. To complete a payday loan application, a borrower must provide paystubs from their employer showing their current levels of income. Payday lenders often base their loan principal on a percentage of the borrower’s predicted short-term income. Many also use a borrower’s wages as collateral. Other factors influencing the loan terms include a borrower’s credit score and credit history, which is obtained from a hard credit pull at the time of application. More financial calculators at Home equity loan calculator.

Terms: A working capital loan is one taken to finance the everyday operations of a company. Organizations in industries that have high seasonality or cyclical sales cycles often rely on this type of loan to help tide them over during periods of reduced business activity.

Equity: The value of an asset after all debts against it have been calculated. A property may be worth $800,000, for example, but if it has a $500,000 mortgage against it, the equity the owner has is $300,000. More financial info on Year fixed mortgage rates today.

GAAP: As a new investor, it’s important to know the distinction between like measurements because the market allows firms to advertise their numbers in ways not otherwise regulated. For instance, often companies will publicize their numbers using either GAAP or non-GAAP measures. GAAP, or Generally Accepted Accounting Principles, outlines rules and conventions for reporting financial information. It is a means to standardize financial statements and ensure consistency in reporting. When a company publicizes its earnings and includes non-GAAP figures, it means they want to provide investors with an arguably more accurate depiction of the company’s health, like removing one-time items to smooth out earnings. However, the further away a company deviates from GAAP standards, the more room is allocated for some creative accounting and manipulation (like in the case of EBITDA). When looking at a company publishing non-GAAP numbers, new investors should be careful of these pro-forma statements, as they may differ greatly from what GAAP deems acceptable.

Mortgage default insurance – Required if you are contributing between 5% and 20% of the value of the property as the down payment or to satisfy lender requirements, when necessary. More on Mortgage refinance calculator. High ratio mortgage – A mortgage where the borrower is contributing less than 20% of the value of the property as the down payment. The borrower may have to pay a mortgage default insurance premium such as CMHC insurance, usually tacked onto the mortgage amount.

If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor: this won’t rebuild your credit score immediately, but if you can begin to manage your credit and pay on time, your score should increase over time. And seeking assistance from a credit counseling service will not hurt your FICO Scores. Amounts owed tips, This category contributes 30% to a FICO® Score’s calculation and can be easier to clean up than payment history, but that requires financial discipline and understanding the tips below.

Your credit score is a numerical reflection of all of the financial information contained in your credit report. Credit reports come from one of three credit bureaus: Equifax, Experian, and Transunion. Creditors and other companies send in financial information related to you and other consumers to help build an accurate representation of your creditworthiness.

New credit tips: Re-establish your credit history if you have had problems: opening new accounts responsibly and paying them off on time will raise your credit score in the long term.

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Bankruptcies may be reported for no more than ten years from the date you initially filed. If your case was dismissed, the ten years starts from the date of dismissal. The amount of time also depends on the type of bankruptcy you filed. Chapter 13 bankruptcies stay on for only seven years, while Chapter 7 bankruptcies remain on your credit report for the full ten years.

Quick Loan Shopping – If you have bad credit and can’t find any other way to improve your score, you could consider taking a “quick loan.” These are typically loans for small amounts — $250 to $1,000 — that get repayment history reported to credit agencies, and can become a positive on your credit report. This is a last resort. See If You Qualify for a 0% Interest Card – Several companies offer cards with 0% interest on balances, but there are caveats to this. There can be a fee for transferring the balance and the zero-percent offer is only good for an introductory period, typically 12-18 months. It usually takes a very good credit score to qualify for one of these.

There are many crypto currencies and a good management of your crypto portofolio is essential for good profits. We will compare HodlStream to other crypto portofolio managers. Blockfolio is one of the most popular portfolio trackers out there and for good reason. It has 5M+ downloads and 90k+ reviews in Google Play Store and Apple App Store combined. Intuitive design is the cornerstone of the app. Blockfolio is focused entirely on the app with no web-available feature. It allows for tracking of multiple portfolios and like Gem, Blockfolio is free-to-use for all its features. However, there is no exchange sync capability which means all trades have to be added manually.

Cointracker is available for both iOS and Android. It tracks more than 2,500 coins, allowing you to connect transactions from 20 exchanges. You can also import Bitcoin, Ethereum / ERC20, Litecoin and Dogecoin wallets. While charting functionality via the simple app is limited, perhaps the biggest attraction of Cointracker is its automated tax form creation (focused on US tax residents). While these tax plans range from £34 to £780, depending on the number of transactions, clearly this element of the site will be useful to many.

Must have : Cryptocurrencies are frustrating expansive. While they create a diverse ecosystem of digital assets, managing them from a single account is difficult. There are dozens of exchanges offering a unique smattering of currencies, requiring investor flexibility to hold and manage accounts on many platforms. To make sure that you are able to keep tabs on all of your crypto finances, you’d want to use a crypto portfolio tracker solution such as Blox.io, which can achieve that high level of clarity by syncing all wallets and exchanges into a single location, providing investors with a full view of their crypto assets. When paired with full transactional control, this significantly simplifies crypto asset management. More details at Personalized crypto portfolio visualizations.

As the cryptocurrency movement continues to advance, investors will require a crypto portfolio manager to maintain their tokens and contracts. In many ways, they require the same tools available to traditional investors, so that they can adequately track, monitor, and account for their assets. There are many options to choose from, but selecting software that includes synchronization, auditability, and inclusivity are keys to management success. By evaluating in these merits, it’s possible to make a great software selection that bolsters financial management for crypto assets.