4 Ways to Get Good Mortgage Rates on a Low Income

Having a low-income does not prevent you from buying a home in today’s market. You can find the property that suits you best for a deal that fits within your budget. Lenders look at more than income when approving a loan, so do not be discouraged and feel like you need to keep renting a home or apartment. 

When searching for properties, you want to use some of the tips mentioned below to ensure you get the best mortgage rate as a low-income buyer.

Research Lenders

You might be surprised at how many lenders accept buyers with low-income. With more options, you don’t have to choose the first offer, and you can find ways to reduce down payment requirements and lower your mortgage rates. 

When completing applications, be sure to put the same information on all applications, including the type of property you are interested in purchasing, the size of the down-payment you can make, and the kind of income you have.

Good Credit Score

Having a low-income does not mean your credit score is low. By managing your bills and making payments on-time, you can find reasonable mortgage rates on a new home. You can request your credit score and history for discounted prices or even free-of-charge (this will vary from person-to-person). 

Go over your debt ratio and see what can be paid down and what accounts you should close. If there are any inaccuracies on your credit report, dispute them immediately.

Public and Private Programs

Some government agencies and private lenders have programs available for low-income buyers. These programs develop criteria that buyers must meet and award loans with reasonable mortgage rates. 

The qualifications vary, but some of the most common requirements include being a first-time buyer, purchasing a specific type of home, such as single-family homes, and the property’s location.

Trusted Real Estate Solutions

Buying a home can present many challenges, especially for low-income buyers. The good news is that there are realty solutions that you can take advantage of to ensure you are getting a great deal on single-family homes, including low mortgage rates. 

The companies will keep you well-informed throughout the purchasing process, from contract requirements, local rules and regulations, and more. A reputable realty solutions company will ensure you have all of the facts you need and go over the best options for you and your family.

The tips above can help you with the buying process and get you one step closer to purchasing a home with a good mortgage rate, even with low-income wages. 

The best advice is to search and use all of the resources available to low-income buyers. Remember to stay positive and enjoy the buying process as much as possible; you only get one chance to buy your first home.

Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan

Six Easy Steps to Financing Your Dream Car

Buying a car is a big step for most people. For many, it may be one of the biggest purchases they make, next to a home. While it is easy for folks to get caught up in the dream of buying their dream car, there are steps that need to be completed to get to that point. 

Financing is a huge piece of the puzzle for many individuals, and it may be one of the most complex and misunderstood parts of the car buying process. Below are six steps that are helping to ensure that the financing of a vehicle is successful.

Step One: How Much to Borrow?

A person should not get hung up on the amount of money a bank or credit union is willing to lend them. Just because a financial institution is willing to lend a certain amount of money doesn't mean that will translate to a monthly payment that will fit into a person's budget. 

Most car dealers and financial institutions have payment calculators on their websites. Prospective borrowers should use them to determine how much they can afford to pay a month for their car payment.

Step Two: Figuring Out a Loan Term

The next step for a car shopper should be to figure out their loan term. Obviously, a car buyer will want to make sure that the loan term results in an affordable payment, but there a couple of different choices they may need to make. 

Do they go with a longer-term and have more financial flexibility? Should they choose a shorter term, pay the vehicle off quicker, and save money in finance charges? Do I have to apply for a bad credit car loan in Australia? Car buyers will need to make the right choice for themselves and their budget.

Step Three: Reviewing Credit Reports

Credit scores will have a huge impact on determining what kind of interest rates a borrower can get. For this reason, it is important for all car buyers to know what is on their credit report. 

By filing disputes to get old and inaccurate information off a credit report, a person can save themselves thousands of dollars in finance charges due to higher interest rates.

Step Four: Determine a Down Payment

Down payments are a great way for a person to reduce the amount they need to borrow. Having a down payment can make the overall cost of the loan less expensive. People should consider putting down as much money as they comfortably can when taking out an auto loan.

Step Five: Shop Around for Good Terms

There are lots of banks and credit unions out there. They are all eager to earn the business of car shoppers. Car buyers should do some research and see what financial institutions are offering for the loan terms they want.

Step Six: Use a Loan Approval for Negotiation

For drivers who want their dream car at an affordable price, having a loan approval from a credit union or bank may help them secure that. Car shoppers should not mention their credit approval until they see what a dealership can offer in terms of price and financing.

Drive Away in a New Vehicle

For car buyers who want their dream car on their terms, these steps give them a good chance at making that happen. When working on auto financing, car shoppers should remember that the decisions they make will end up determining how much the vehicle will cost them in the long run.

Plan Ahead: Strategies to Help Ensure That You're Ready for Retirement When It Comes

Retirement is a time to quit working and start to enjoy life at a leisurely pace. If you want to have enough money for retirement, it's important that you prepare as soon as possible. Here are some strategies that you should utilize to help ensure that you're ready for retirement.

Cost-of-Living Projections

You really won't know how much you'll need for retirement until you do some sort of cost-of-living projections. You need to think about what your expenses maybe during that time. 

You will need to factor in things like whether or not you'll have a mortgage and if you plan on traveling. This analysis will give you a more accurate picture as to how much money you will need to save in total before you retire.

Budget Money From Every Paycheck

You will most likely need a substantial amount of money before you can retire. Because of this, you should set aside money from every single paycheck to put towards retirement. 

This will keep you from having to come up with a large sum of money all at once later in life. Even setting aside a small amount of money can really have a huge impact if you are consistent.

Pay Off Debt

It's also a good idea to put aside as much money as you can to pay off debt. It will be difficult to live off a smaller income in retirement if you have debt that you are still paying for. You should strive to have the smallest amount of bills possible once you retire.

Smart Investing

If you won't be retiring for a while, it's a great time to start investing. You might want to consider putting some money in the stock market or buying some investment property. While it is always a risk to invest, you can grow your money and come out financially ahead when it comes time to retire.

Financial Planning

You can get help with all these things by looking into financial planning. A financial planner will meet with you to discuss your needs and concerns about your future. 

After taking a look at your current financial situation and your goals, they will help you determine the best steps for you to take in order to accumulate the amount of money that you'll need in order to retire comfortably.

Planning for retirement can be overwhelming when you consider the amount of money you might need. Fortunately, there are some strategies that you can start to utilize in order to ensure that you're ready for retirement when the time comes.

5 Ways To Start Investing As A Business

Running an investment business is very different from running a traditional brick-and-mortar or even an eCommerce store. While it shares similarities, including the need for adequate capital and a thoroughly-devised plan, how you build an investment firm can be a vastly different path. 

There are multiple risk factors and ever-changing variables that an investor must be prepared for. To help you build a solid foundation for your investing business, here are five ways to get started:

Open a Brokerage Account

Today's investors are fortunate enough to be able to place buy and sell orders in real-time. Gone are the days when you'd have to call a broker on the trading floor to open a position. At the same time, you can complete said order within the day. 

This archaic form of investing left investors at risk of getting in on trade at less favorable prices. It only takes a few clicks of the mouse button with an online brokerage account to own a stock or commodity. 

When comparison shopping for broker accounts, field your candidates for commissions and other related fees, available asset classes you can buy and sell, and dashboard features, i.e., analytical tools, technical indicators, beginner courses, etcetera.

Protect Yourself Legally

It's not the most exciting part of owning and operating a business. Still, it is one of the essential facets of any commercial enterprise: a retail store or an investment portfolio. For instance, make sure you are aware of and comply with blue sky filings. 

This state-level, anti-fraud law requires security issuers to disclose the terms of their offering and any material information that could impact the underlying security value. Blue sky laws can vary by state, but these regulations are set to protect people from fraudulent investments. 

You should also understand how to file your taxes as any income sourced from securities is taxed at a different rate than your ordinary income.

Decide on Your Investment Approach

How well your investment portfolio performs hinges on your investment-selection approach. You must have sound reasoning beyond gut instinct when you invest in an asset, whether it's treasury bonds of a foreign country or a promising new tech company. 

Having a technical strategy helps weed out high-risk, low-reward assets while also allowing you to achieve more consistent and predictable results. Some investment strategies to study for beginners include value investing, growth investing, and small-cap investing.

Record Everything

Not only will it help ease the process of filing taxes every year, but having a comprehensive record of your investments can give you a clearer picture of what you're doing right and what needs improving. 

For instance, you can analyze the timestamps of each investment bought or sold in the last quarter to gauge whether or not short-term positions churned a profit or loss. You can manually record your positions in a notebook or request an account statement from your broker, which is offered at no cost. 

You can also use an online trading journal to record your positions in a blog post format. Like Babypips, websites allow you to post your trades to the public and read other investor's blog posts as well.

Consider Robo Advisors

Although robo advisors are involved in many financial planning utilities, one of its main applications is automated investing through algorithms that look for specific parameters to determine when to buy or sell an asset. Most robo advisors use mutual funds or ETFs instead of individual stocks to build your portfolio. 

In addition to robo advisors, you can also use a copy trading platform to follow and copy other more experienced investors’ trades. Any time they place a trade, your account makes the same one.

Investing as a business affords many pleasures, including minimal startup costs, flexibility in work hours, and multiple avenues to secure a profit. That said, it's also a performance-based business where growth and profitability are directly tied to how well you can analyze financial markets and how consistent you are in following your risk management measures. 

As a final piece of advice, know when to take a profit. As your portfolio grows, you'll want to lower your positions’ overall risk by systematically withdrawing money out of your account.

How to Save on Air Conditioning and Heating in an Older Home

There are plenty of reasons why prospective buyers look for an older building when choosing their home. While there are usually plenty of good reasons to pick an aged home, these structures can also present a few challenges that you should be ready to handle. 

This list of challenges often includes difficulty maintaining indoor temperatures as well as higher overall heating and air conditioning costs.

Address Outdated Insulation

One of the most common problems with older houses is poor insulation from the outside. This could be due to degraded or outdated insulation within the walls. 

It could also stem from general deterioration of the seals around windows and doors, or air leaks in the attic and crawl space. Getting new insulation and seals around all points of the entrance can put a huge dent in your power bill.

Consider Zoning the House

Zoning your house by modifying your system to support multiple thermostats can also really cut down on your costs. This type of HVAC setup divides homes into distinct areas, usually several rooms connected together, that share heating and cooling needs. 

When zoning a home, you can set different temperature goals so you only have to invest a lot of energy into the areas where you actually spend time every day.

Consider Ductless Options

Ductless units are a great way to supplement your existing HVAC system without investing in costly installs or ductwork. These units operate as heat pumps by transferring heat between the inside and outside of the home, depending on your current needs. 

They don't rely on any ducts, hence the name ductless, and are relatively small and easy to install. Homeowners who want to concentrate on conditioning a single room or space can save a lot of money with one of these.

Modernize Your System

Some older homes simply have an old, outdated, and worn out HVAC system that needs to be replaced. Removing old equipment and putting a new system in can be expensive initially, but often results in much more efficient operation from month to month. If you intend to stay in the home for the foreseeable future, this option may be your best bet for staying comfortable and getting bang for your buck.

It's hard to quantify the value of a good heating and cooling system, especially if you live in an area with sweltering summers or frigid winters. When buying an old home, it's a good idea to consider the costs of modifying or replacing the HVAC system before you make a final decision.

3 Tips to Keep Your Business in Good Financial Standing

(Image Source: Pixabay)

As a business owner, it is your responsibility to ensure that your company is always in good financial standing. Unfortunately, there are far too many things you can do that means that you could make a mistake and slip up. Here are some of the things you can do to ensure that you remain safe and secure.

Pay Your Invoices on Time

The first thing you need to do is ensure that you are paying your invoices on time. These are going to be crucial as they will allow you to continue acquiring the services or supplies you need to be able to complete your operations.

Likewise, you need to make sure that you are receiving payments from your own clients at a good time. Issue your own invoices promptly, and make it clear when the payment deadline is. You need to ensure that the flow of money coming in and out of your business is unobstructed and able to move easily.

Watch for Scams

There are so many scams out there that you need to be aware of as a business owner. If someone comes to you with a claim that they have an amazing business deal for you to get in on, chances are that it might not be as reputable as it first appears. You always need to do your research before agreeing to such an offer, even if it is coming from someone that you trust.




If you do fall for such a scam and end up losing money, you need to ensure that you know where to turn to be able to retrieve your money. A service like PayBack is going to be able to help you recover your assets and potentially put a stop to the scammer going after another company.

Track Your Spending

One of the most important aspects of keeping your business in good financial standing will always be to track your spending. No matter how big or small an expense is, you need to make sure that it is logged and accounted for.

Unfortunately, it is really easy for you to overspend in business. You need to make sure that you are always paying close attention to your various budgets and how they fit together. If you are able to pare back your spending in one area, it might free you up to be able to spend a little more in a different sector.

No matter what, you need to make sure that you are able to keep your business in good financial standing. There are so many different things that all fit together to make one functioning business, and your finances will be at the heart of that. 

If you are able to keep your finances healthy and top of the line, other issues that present themselves can be dealt with more swiftly. If you aren’t sure how your business’s finances are, make sure you find out how they are doing as soon as possible.